For those experts, your input is highly appreciated . I'm a newbie here! My offer just got accepted for an REO property and needs some rehab before we can close the loan and ready for rent. I got call from a lender LOANGUYS to do a bridge loan. I was told that they can do it as low as 5.75% for 12 mos, no docs just purely asset base, no prepayment penalty. I am new to this. Did anyone work with them or are they even legit? What are things I need to know with this kind of loan? Thank you
