2 Week Closings – Apply for a Hard Money Loan
- Loan Size
From $1,000,000 – most loans fund between $1 and $10 million
Urban and suburban US properties and International OK
Improved commercial and Investment residential real estate ( raw land or construction/development projects OK)
From 9.99% – 18% plus 2 points
1-3 years, interest only, no prepayment penalty
- Max LTV
Purchase: Value is actual purchase price of the real estate* If borrower has down 10+% in cash, we’ll “stretch” the LTV max
Refinance: Value is Lenders opinion of the appraised value of real estate for refinances. We have our own review appraiser and principle travel to visit each property.
Blanket loans; points and fees wrapped into the loan; multiple income sources considered.
- Due Diligence
A deposit of about $5 – $10k is required before due diligence process is begun and is credited against the third party costs of underwriting: fair market value evaluation fee, inspections, site visit, legal costs, escrow, etc.
- Down Payment
The fee is due upon signing of the Letter of Intent and Term Sheet and cannot be wrapped into closing costs. The Term Sheet will follow with in 5 days of LOI