Private Mortgage

Hard Money Loans are designed for the borrower that needs a lite document, easy to close commercial real estate loan. Designed also for the borrower who either due to personal problems, or time related characteristics, cannot qualify or would have great difficulty qualifying for traditional institutional quality commercial real estate financing.

We enjoy a great working relationship with “private” investors and non-traditional commercial lenders eager to finance all types of commercial real estate and land. Because our “private” investors use their own money to fund a loan, flexibility and terms and conditions may be more reasonable. In some situations, an appraisal would not be required.

Whether it’s a purchase or a cash-out refinance, contact us.

Private money fills a niche in commercial mortgage lending, helping buyers who have specialized needs or too many credit problems to get conventional financing. These type of loans come with much less red tape and restrictions than bank loans or traditional commercial lender financing.

Certain types of commercial projects may not be eligible for bank financing. ­ These can include certain commercial properties and types of businesses or operations, the land the property is on, or the incompleteness or damage to a property. Hard Money is designed to solve all of these quandaries, and can fund a much broader range of properties and projects than bank financing.

Loan Terms Information

• Rates Start from: 8.5%
• Loan amount: $75,000 to 5,000,000
• Loan type: Interest only (1 YR / 2 YRS / 3 YRS)
• Mortgage Types: Purchase, Refinance, Cash out
• LTV: Up To 80%
• Minimum Property Value: Required $75,000
• Occupancy Type: Investment and Second Home

Property Type:

• Single Family Homes
• Townhomes
• Condominiums
• Condo-Hotels
• Multifamily
• Office Building
• Retail Centers

Additional Loan Information

• Non US citizens – OK
• Not perfect credit – OK
• Blanket loan – OK
• NO upfront application fees
• NO income or employment verification
• FREE pre-qualification letter
• Closing – 1-2 Weeks
• Tax and Insurance Escrows may be required
• Pre-payment penalty – only first 6 month (or case by case)

A hard money loan is a loan that is collateralized against real property. Hard money loans are commonly obtained through a private lender, individual or organization.

Typically, there are less hurdles with hard money loans. Because of this, lenders can often make decisions faster than traditional banks and lending institutions. It’s not uncommon to see hard money lending decisions made in a few days, versus months through a traditional bank. Funding of hard money loans can be facilitated just as fast, often in just a few weeks.

Because of the risks associated with lending to individuals with lower credit scores or less liquid assets, interest rates are commonly higher. While the qualifying guidelines vary from lender to lender, the traditional guidelines that banks use for lending are often not as big of a factor.

To further minimize the risk to the lender, they will often fund the loan in the first lien position. This means that in the event of a loan default, the hard money lender is the first creditor to be paid off. Hard money loans typically have a higher down payment, as compared to traditional loans.

Note: Programs are subject to change without prior notice. Each program has their set of underwriting guidelines, please contact us to acquire up to date and specific program requirements.

• Rates start @ 7.5% Interest
• Minimum Loan Amount – $50,000
• Maximum Loan Amount – $5 Million
• Terms – up to Five years, Interest Only Loan
• Purchase, Refinance & Cash out
• Minimum Down Payment – 35%
• Maximum LTV 70% – Case by Case
• Lending in entire Florida

Property Types

• Single Family Homes
• Townhomes
• Condominiums
• Condo-Hotels
• Multifamily
• Office Building
• Retail Centers

Additional Loan Information

• Primary residence – case by case
• Not a U.S. citizen – OK
• Less than perfect credit – OK
• Blanket Loans – OK
• NO upfront application fees
• NO income or employment verification (Most Loans)
• Closing – 7 days
• Tax and Insurance Escrows may be required
• Prepayment penalty – 0 to 24 Months