Do you need hard money loans for
Land Loans, Lot Loans, Non-Owner Stated, Manufactured, Pre-Hud, Ranches, Small Commercial, Lower Credit Scores
or No Scores, Rehabs, No Prepayment Penalties with No Minimum Loan Amount?
Let me tell you a little about our hard money process and how fast you can close them. Rates range from 11
to 14%. 8 to 10 points. Our points come out of loan proceeds. If the loan doesn't close
we do not make anything. We have no up front fees to look at your loans. All hard money loans are unique.
Some of the basic program high lights are max loan amount $500,000. with no minimum loan amount. For land loans
our max LTV is 50%. For Pre-Hud manufactured we are normally looking at a max of 50%, all
other loans the max LTV is 65%. We even offer small commercial loans as long as loan amount does not exceed
our max loan size. If the property is owner occupied it must be full doc. Below are the items needed to get
a possible approval:
Completed 1003, I need
to know date purchased and for how much. I also need to know how much cash they have into the loan if purchased recently.
1008
credit
income if full doc (we require all owner occupied
properties to be full doc)
if stated I need a copy of a business license or proof of self employment
some photos of the property and tax value
detailed cash out letter or purchase contract
(if a purchase we lend off of the purchase price or appraised value whichever is less)
exit strategy
I can usually have you an answer in 24 to
48 hours with any conditions required. The reason we request tax value and photos is if the loan works off of tax value and
the photos show property well maintained, many times we do not require an appraisal. This can save
your borrower a lot of money especially on commercial. If you would like any additional information please let me know.
