Private Funding
What is Private Funding or Hard Money Loan?
Hard Money Loan is Loan that is based on collateral rather than the borrowers income or credit. It puts more emphasis on the lendable equity in your property rather than on your credit.Simply because it is more of an equity based loan it does not mean that only people with credit problem apply and get hard money loans. Many borrowers of hard money loans have good credit. The only reason they go for a hard money loan is because it is FAST! And because it cuts through the red tape. And the borrower, especially the self-employed borrower, does not have to provide income verification. It is not uncommon to get funding in 5 days if the borrower can provide the necessary information on time. Hard money loans are also used for bridge or short term financing.
We offer:
- Competitive pricing
- Fair and flexible terms
- Up to 65% loan to value on commercial and residential, 50% on land
- Loans up to $3M
- Minimal paperwork
- Straight-forward approach to underwriting, quick turnarounds
Property Types:
- Commercial (office, retail, industrial)
- Residential (single family, multi-family)
- Vacant landLoan Types
- Acquisition and Development
- Bridge financing
- Cash out
- Construction
- Refinance
- Note purchases
General Terms and Conditions:
- Loan Amount: $50,000 - $3,000,000
- Term: 6 months to 18 months
- Interest Rate: 10.99% - 14.99%
- Points: 3 - 6
- No Prepayment Penalty
- Interest only
