OUR LOAN PRODUCTS
**for non-owner occupied properties only**
Common Questions About Our Loan Packages
Hard money rates are higher than traditional bank loans. Since they are riskier, done faster, and require less underwriting, the rate is higher. A typical hard money loan will be 4% to 5% higher than traditional bank interest rates.
Banks take a long time to approve loans, and they often apply very rigid funding criteria to deals. So if you have a special situation or circumstances, you may be out of luck. Hard money loans are also perfect for buyers who want to close a deal quick, and can’t wait 45 days for a bank approval. Hard money is not for everyone, but there are investors that are able to buy property not possible otherwise, thanks to hard money loans.
Yes. Hard money loans are focused on asset-based underwriting. This means that your credit score is less important than the financial worth of the property you are buying. Your experience is also as important but borrowers with bad credit can easily qualify for hard money loan.
We look at both the borrower and the property on all of our loans. For the borrower we consider experience, income, liquidity, net worth, and credit score. For the property, we consider type of use, extent of renovation, and as-repaired value (ARV). However, as a private money lender we can be much more creative with each loan scenario in a way traditional lenders are not able to.
Yes. As a private money lender with experience in many facets of the real estate industry, we are able to offer loan types and structures which fit many types of investment properties.
In most cases the loan amount must not exceed 75% of the after repaired value.
We can close in as little as 24 hours pending title work.
Yes. We offer 100% financing with cross collateralization.
The rehab portion of your loan is placed into an escrow account at the time of funding. Once the construction improvements have been completed, an inspection will be done on the property and the draw will be released.
We typically receive an inspection report within 48 hours and disperse the funds the following day.