The higher costs and tough hard money loan requirements is often offset by the fact that the borrower tends to pay off the loan relatively quickly, usually within a period of one to three years. Hard money lending is a business model that can be practised as an income generating alternative investment.
Hard money is usually provided by investors that are interested in leveraging real estate transactions that yield a greater return than conventional forms of investing. The investors are usually real estate savvy and enjoy the benefits of providing private financing with relatively small risks since hard money transactions are sufficiently sheltered behind a tangible property and it's equity.
Hard money loans are beneficial for both parties since the borrower enjoys fast turn-around that is wanted or needed for their business or property needs, and the investor enjoys a greater return for the loan advanced.
a). What are some of the advantages of hard money loans?
Quick and easy process,
No borrowing limit,
Great for first time investments.
b). What are some of the disadvantages of hard money loans?
High above standard interest rates,
Very high origination fee,
Loan is short term not long term,
Risk of losing property.
c). Do we offer hard money loans?
Yes. We have sources that advance hard money loans to our clients at competitive market rates.
d). What do you accept as collateral for hard money loans?
We accept hard money loan applications for Acquisition loans, Bridge loans, Development loans, Gap financing, Interim financing, Mezzanine financing, Short-term credit resolution, Project rescue funds for emergency situations, Factoring of accounts receivable, Raw Land, Bridge Financing, Construction, Bankruptcy Discharge, Refinance, Equity Recapture, Pending Foreclosure, and Poor Credit / Late Pay etc. will be considered; after approval, fast funding in days, when needed, on any type of commercial real estate project; credit challenges not a problem, all requests will be considered.
e). What are our hard money loan terms?
LOAN RANGE: $1M to $50M per project.
DURATION: Loan decisions can typically be made within 24 hours from the receipt of the required items and documentation needed by underwriting; after loan approval and depending on the lawyer's time to draw up the loan agreement/contract, financing can occur within 3 to 7 days or longer.
LOAN TERM: 1 to 12 months or longer
LOAN TO VALUE: 50% or more, depending on the asset/collateral.
INTEREST RATE: from 13% to 20%; Points can range from 6 to 10, depending on the specific property, the borrowers credit and the loan amount.
TERMS: The funding parameters, specific terms, timing, and costs will be based on the business analysis and overall risk assessment and strength of the project and the Principals. Since our sources are very competitive, the principals' project will receive the rate and terms that it deserves.
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