Single Family Fix and/or Flip

In today's climate, many rehab loans are done with hard money........

What is a Hard Money Loan?

This is where a hard asset (real estate) is used as collateral for a loan and is typically referred to as private mortgage or private mortgage note. Unlike bank financing, hard money loans are provided by private individuals and/or small lenders rather than large government or Wall Street-backed sources. Hard money loans are often used by a person who is having difficulties qualifying for a conventional loan because the approval process for a hard money loan is much more streamlined than with those conventional banks because hard money lenders look mainly to the collateral as security for repayment rather than the borrower alone.

Hard money loans are used for both commercial and residential properties because the private lender uses their own money they are able to create their own flexible lending terms that can meet both theirs and the borrower's needs. One other advantage of hard money loans is that they typically close quickly with little documentation. Since these loans are usually “outside of the box” and come with higher risk, the interest rates are usually higher than that of a conventional loan.

Loans are usually up to 65% Loan-to-value (LTV) based on the After-Repaired-Value (ARV);

100% of acquisition/construction can be financed with no problem;

Both residential and commercial properties are allowed

Low credit scores

 No income 

Foreclosure and bank REO properties

Interest only and "no payment" options can be available

All loans must be for business or investment purposes  no primary residences

Cash-out refinances of land or existing structures.

If interested in the rehab loan (click here).