Hard Money Loans
Hard Money Loans are asset-based loan financing through which the borrower receives funds secured by real property leveraged between 65%-80% Loan-to-Value. Proceeds are issued by direct portfolio lenders utilizing private investor’s funds. Rates range based on risk, there is no prepayment penalty and repayment is usually interest only. Borrowers must illustrate the ability to repay the loan within 12-18 months. Cross collateralization may be used to leverage equities from other real estate investments in lieu of fronting the balance of funds to close. Not available for owner occupied residence due to regulatory restrictions. Lending in CA – submit for all other states.