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Established in 2010, we provide short-term fix & flip financing and long-term rental financing for real estate investors. Our loans, often called hard money loans, range from $50k to $2.5M and can be used for the purchase or refinance of non-owner occupied residential & commercial properties, financing of renovation project, and bridge funding.
A hard money loan is a loan of "last resort" or a short-term bridge loan. Primarily used in real estate transactions, its terms are based mainly on the value of the property being used as collateral,
A: There are hard-money lenders and then there are real hard-money lenders. For the benefit of my readers, a hard-money lender is a private lender that usually makes quick, short-term loans at.
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The Hard Money Loan Program for residential properties offers real estate investors fast access to funds. Hard Money Loan approval is heavily based on the investment property; specifically the amount of equity. The Hard Money Loan Program is also advantageous due to that fact that credit scores and income are not heavily relied upon so there is no need to worry about income qualifications.
Hard Money Loans for Commercial Buyers Business owners, trusts, corporations and private partnerships often secure hard money loans for their commercial property needs. These private money loans, which can be used to rehabilitate or pay off mature notes on commercial properties, are often known as bridge loans or gap loans.
Even properties that wouldn’t necessarily be thought of as appropriate for short-term rental are being converted for short-term use and performing well. For instance, the owner of a fourplex in the lake tahoe area might be able to rent each unit out to locals for $1,000 per month, whereas on Airbnb each unit can fetch $150 to $200 per night.
Private Hard Money Lenders tend to lend short-term loans (also called bridge loans) that provide funding and or cash, based on the value of the collateral. hard money lenders and Investors can and will utilize all types of collateral- residential properties, commercial properties, vacant land, vehicles, etc. to complete the loan.
Alternatively, a hard-money loan covers between 80% and 90% of a borrower’s cost. This higher LTC ratio narrows the gap in a borrower’s capital stack. While interest rates are more expensive, several.
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