Our hard money loan programs are unique and work differently from traditional loans. The best way to understand how they work, is to understand the difference between hard money lenders and other lenders such as your bank or credit union.
Our Hard Money Loans Deliver:
We provide pre-approvals in as few as 24 hours and can fund your loan in 5 days or less.
Our proprietary underwriting criteria focuses on your deal potential, not your credit or income.
Our hard money loans are designed to keep your costs low and help maximize your profits.
Our team is focused to ensure smooth closing and timely support of your renovation project.
Our knowledge of local markets helps ensure that your real estate investment is a success.
Peace of Mind
In business since 2006, we’ve built our reputation on delivering on our promises and treating our customers as valued business partners.
Hard Money Difference
Hard money lenders do not lend on primary residences.
Hard money loans are business loans issued to real estate investors looking to make a profit. As such they are not subject to many regulations that apply to consumer lending.
Hard money lenders do not sell their loans to Fannie Mae or Freddie Mac.
Typically, they lend their own money or money they raise from capital investors. They decide which loans to fund based on their own risk tolerance and lending experience.
Hard money loans are typically short-term loans.
Unlike consumer loans, hard money loans are not designed to hold for fifteen or thirty years. Their typical term is between six to eighteen months before they need to be repaid either by flipping the property or refinancing it.
There are three major reasons why, without hard money lenders, real estate investing would be limited to those with deep pockets.
Hard Money Advantage
Many investors wouldn’t qualify for a loan.
Some investors don’t have a high credit score or don’t show enough income to qualify for a traditional loan. Others are turned down because they already have too many mortgages. Without hard money financing these borrowers would have no choice but to sit on the sidelines and watch other people make money.
Many properties would not qualify for financing.
Other lenders base their loans on the current condition of the property. With few exceptions, they lend to consumers, not rehabbers, so they require a property to be “livable” right away. They don’t want to lend on properties that are damaged, trashed or don’t have a functioning kitchen or bathrooms. Hard money lenders focus on the property’s potential or what it can be once an investor finishes up the rehab.
No ability to compete with cash offers.
A great investment opportunity often comes with a seller who needs to close fast. An all-cash offer is hard to compete with – unless you are working with a hard money lender. Because of their speed, hard money loans are widely considered equivalent to all-cash offers.
Hard Money Advantage