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HARD MONEY LOAN

 WHAT IS HARD MONEY LOAN?


A private hard money loan is simply a short-term loan secured by real estate. They are funded by us private investors (or a fund of investors) as opposed to conventional lenders, such as banks, or credit unions. 


TERMS.

The terms are usually around 6-12 months. BUT, on certain special circumstances, the loan term can be extended to longer terms of 2-5 years. This is rare though. Hard money loan requires monthly payments of only interest, or interest and some principal with a balloon payment at the end of the loan term. 


Important, due to the extra rules and regulations required by Dodd-Frank, we do not lend on owner-occupied residential properties. Only for investors who need quick CASH for...


  • Fix and Flips Properties. (single family, multi family units only)
  • Construction Loans/Rehab loans. (rates differ greatly depending on projects. Call for details. 480-217-7440.)


OUR 4  MAIN HARD MONEY LENDING REQUIREMENTS.

1. Down Payment / Equity. 

The main requirement for obtaining a hard money loan is having the necessary down payment, or equity in the property to serve as collateral for the loan. 

2. Cash Reserves / Overall Financial Strength. 

3. Exit Strategy / Experience in Real Estate.

4. New Borrower / Repeat, AND over all reputation amonsg your peers.


INTEREST RATES

Ranges from 10 – 20% depending on the perceived risk of the loan

Points can range anywhere from 2 – 4% of the total amount loaned.


Call us today and start your private money loan process. 480-217-7440