Hard Money Loans
Residential & Commercial Mortgages
What is a Hard Money Loan?
A Hard Money Loan is a collateral (or equity) based loan, which puts more emphasis on the lendable equity in your property rather than on your credit. Under current lending policies in the United States, "stated income loans" are considered hard money loans.
Hard Money Loans are not only for borrowers with credit issues. There are many reasons that one would seek a Hard Money Loan versus traditional residential or commercial financing, such as:
- Borrowers that cannot (or prefer not to) prove income. Many self-employed people fall into this category under the new lending laws.
- Hard to Finance Building Types
- 2 Days for Commitment
- As Fast as 5 Days for Closing Without the Stringent Guidelines of Residential or Commercial Loans
- more reasons ...
It is not uncommon to get funding on a hard Money Loan within 5 days if the borrower can provide the necessary information quickly. Hard Money Loans are also used for bridge or short term financing.
Residential & Commercial
It’s an everyday reality that banks and traditional lenders can’t keep up with the speed of doing business. Since Hard Money Loans are short-term by nature with the borrower usually retiring the loan within a year, most borrowers prefer a quick closing (30-days or less) and avoid an intrusive underwriting process. Being able to access the capital you need in just a few days can be imperative to preserving valuable business relationships or capitalizing on tremendous profit opportunities.
For the borrower who wants to instantly restructure debt in preparation for a conventional refinance, or whose plans are to prepare the property for sale at its highest market value, Hard Money Loans can be the fastest and simplest solution--faster than a bank and cheaper than a partner.
All Types Of Borrowers
- Individuals, Corporations, LLC's, Partnerships, Trusts, Estates, etc.
- Multiple borrowers and or multiple entities in a single transaction
- Non-FICO driven. Hard Money lenders base their decisions on the quality of Real Estate
All Types Of Property
- 1-4 Units, 5+ Acres, Vacation Homes, 5+ Acres, Mix-Use, Industrial, Office, Multi-Family, Self-Storage, Strip Malls
- Cross-collateralize on multiple properties for maximum loan amounts
- Subordinate liens are O.K.
For Any Reason
- Residential and Commercial Property Acquisition
- Development and Construction
- Bridge Loans
- Cash Out (no limitations)
- Bridge Financing
- Bank Workouts
- Bankruptcies and Foreclosures
- Restructure Debt, Divorce or Estate Settlement
Portfolio Lending
- Hard Money Loans do not rely on credit lines or secondary market approvals
- Creative approaches to "Hard Money" equity loans
- No seasoning requirements or cash-out limitations
Simple Application Process
- Call us to take an application over the phone OR
- Apply for a Hard Money Loan Online OR
- Print & Fax us your Hard Money Loan application (download)
- FAST ANSWERS, 24-48 hour turnaround to obtain a Letter of Interest (LOI)
- Hard Money Loans typically close in 7-10 business days after the LOI is received assuming you have the documentation that the lender asks for readily available.
| Loan Amounts: | $500,000 to $100 Million | |
| Loan to Value: | Up to 65% of the disposition value of the collateral, based on the estimated cash sale price given a 180 day marketing time. If the loan is used for renovation or construction, the loan amount can be based on the improved value, and would be disbursed in stages as work progresses. | |
| Interest Rates: | 9.99% to 21% per annum, interest only, depending upon collateral and loan structure. | |
| Prepay Penalty: | None | |
| Use of Proceeds: | Loans are made for business purposes only. | |
| Loan Term: | Flexible loan term from 1 to 20 years. | |
| Fees: | In lieu of equity participation, fees of 4-10% of the loan amount may be included in the loan. | |
| Collateral: | Real estate and other fixed or liquid assets. | |
| Lien Position: | First |
