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Question? Do I need a mortgage broker license to broker/sale hard money loans money loans, fix and flip, construction or etc?
Question? Do I need a mortgage broker license to broker/sale hard money loans money loans, fix and flip, construction or etc?
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Most states do not require a license if the transaction is not a "consumer loan" transaction, meaning that the loan is supplied to an entity (LLC) for business purposes (like real estate investing). There are some states that do require it even for business loan originations (you can check with the state that you are considering brokering in). We are a direct short-term lender for purchase & rehab and ground-up construction to real estate investors and we lend in these states: AL, CT, DE, FL, GA, IN, KY, MA, MD, MO, NC, NJ, OH, PA, SC, TN, TX & VA. Brokers do not need a license to broker with us in the states mentioned. We lend 100% of purchase & 100% of the rehab up to 75% of the ARV. Rob@rehabfinancial.com Direct: 215.913.1580. Love to work with brokers!
No you don't . License only needed for primary mortgage loans.
Steve Benjamin
Professional Business Loans
Irvine, CA 92620
SteveProBiz@gmail.com
https:/probizloans.net/
949-228-1050
Most states don't require it, but there are states that do require a lender and/or broker's license. Work with your HML lender, sometimes they can connect you with a local broker or lender and work out a deal for you. @Rahiem Hickmon - Good luck! Cheers!
no