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.

Lending Criteria Description
Interest Rate 9.99% – 12.00%
Maximum Loan-to-Value 65% – 80%
Lender / Broker Points TBD
Fico Requirements NONE
Property Type SFR/1-4/CONDO/5+/COMMRECIAL
Prepayment Penalty None
Recourse Yes
Lender Processing $1,495 Lender + $500 Doc Prep
Terms 12 Months Fixed
Minimum Loan Amounts TBD
Closing Timeframe 2 Weeks
Amortization Interest Only – As Dispersed
Collateral Cross-Collateralization
Other Costs All 3rd Party Closing Fees.
This information is NOT a loan approval or commitment to lend. The actual loan amount, interest rate, fees, costs and monthly payment on your specific loan transaction can vary and will depend on your choice of loan product and your unique credit profile. Loans (in CA) will be made pursuant to BRE License #02001852 & NMLS License #1463667. Loan Brook, Inc. is an equal housing lender.