Hard Money Lending
Our Hard Money mortgage loan department is a network of 39 individual Equity-Based lenders; Hard Money lenders/ Private Money lenders that will fund any reasonable loan scenario.
We have equity-based portfolio lenders, direct money lenders, and banks that offer soft money, sub-prime and non-prime loan programs including Small Business Loans and alternative-equity-financing options; our Hard Money division is on pace to do over 160 hard money loans this year.
Our mission is to help individuals, investors, builders, developers, foreign nationals and all legal entities including foreign legal entities obtain alternative real estate financing options to assist in a diverse real estate market (usually understood as Hard Money loans). We are a unique Hard Money Loan service for a variety of real estate transactions, including investor purchase loans; refinance cash out option; new construction; second trust deeds; third trust deeds (Hard Money); refinance loans for primary and investment properties; fix and flips; rehab projects; probate properties; rental properties' non-warrantable condos; mixed-use; mobile manufactured homes; rural area properties and unconventional properties such as what are called ultra-modern properties that lack traditional 'comparables'. We also have programs for other types of properties including 'log' and 'dome' homes.
There are many advantages of working with an extraordinary Mortgage Broker as Hard Money Mortgage Broker's can provide special services: a fast and efficient funding experience with easy terms and limited conditions.
Some additional benefits of working with a Hard Money broker include a wide range of loan programs that come with the lowest pricing the market can offer. If a borrower is in the market for a hard money loan, they might get approved for a Soft Money loan program with a lower rate with a 5-year interest-only feature without a pre-payment penalty, as one example.
Ongoing relationships in this cutting-edge industry are developed over time and with funded loans. We have lenders that will look at almost any loan scenario and we also have lenders that specialize in various loan scenarios, many that are Hard Money and as well, traditional financing.
These Hard Money lenders are driven by private investor money, typically referred to as Hard Money or Private Money loans. This borrowing capital comes from special interest segments of the market that are pursuing specific criteria loan scenarios. Loans that meet specified criteria can receive discounted pricing from the lender. For example, if a Hard Money lender has an 11% standard interest rate, that rate will go down for every loan scenario criteria that meets their desired guideline structure. These variables vary from geo-targeted areas of the country, states, regions, and specific zip codes, as well as specific property types, loan purposes, occupancy type, credit criteria, credit scores and employment for soft money lenders (differing from Hard Money investors'), Subprime and Non-prime lenders, as well as other types of specific loan characteristics. Some examples would include: 580+ credit score blanket loans for the northeast region of the country; 1-4 unit purchase loans with loan amounts greater than 5 million; bridge loans that meet specific exit strategy criteria; state-specific rehab loans that feature a progressive Loan-to-Cost (LTC) ratios up to 85% for an investor with greater than 3 closed transactions experience within the last 4 years. Another example would be: "unseasoned cash-out refinance" for newly (unseasoned) purchase for a limited zip code area in Southern California, unconventional income documentation program for owner-occupied Single Family residential properties; these origination lenders will typically have their own pre-determined guideline criteria matrix to ensure that brokers stay within their guideline matrix. These revolutionary loan programs (usually Hard Money) can make it easier for an experienced Broker to quickly facilitate Hard Money loans for consumers. This is ideal because when the loan fits the lender's pre-determined guidelines, the complex loan scenario becomes an easy, consistent and clean loan process which in turn will provide pricing that is the best the market can offer because we, the Mortgage Broker are in effect, filling an order.
Seasoned Real Estate Investor niche: some Hard Money/Private Lenders like working specifically with seasoned real estate investors. These guideline criteria can be quantified or qualified by the number of years or number of transactions undertaken by the borrower. For example, some lenders want to lend only to real estate investors that have completed more than 3 transactions and some won't touch a real estate investor with less than 3. A further example is that some Hard Money lenders won't lend in an urban area and some won't lend in rural areas. When a lender requires a niche, they also, in turn, will provide discounted pricing, thus benefitting the consumer.
No asset or income verification that comes with 6-30 year terms and requires sub 500 or no credit scores for residential investors. Discounts 620+ credit score. ?
ARV 85% Loan-to-Cost (LTC) No Pre Payment Penalty options; loans made to LLC with a personal guaranty.
Hard Money Loans
Private Money 70% LTV
Hard Money 5 Million Owner Occupied
Jumbo Hard Money to 3 Million 80% LTV
Hard Money Super Jumbo Florida
California Hard Money 30 Million
Latest Loan Programs
• Investor Loan - No Doc
• Bank Statement Loan 600 Credit Score
• Asset Depletion Super Jumbo Mortgage
• Bank Statement Loan 580 Credit Score
• Stated Income Verified Assets to 70% LTV Owner Occupied
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