I am the Guru of Hard Money in Las Vegas and can close quickly! To save us both some time, please read this page in its entirety before contacting me.
Are you sure you need Hard Money? Hard Money from a private investor may be the best option if you can NOT prove your income using tax returns, if your credit score is below 580, or if you plan on selling the property within 9 months. If you CAN prove your income, have a score over 580, but had a recent bankruptcy, short sale or foreclosure, you may not need hard money. In this case the down payment is 20%.
Hard Money RATES/FEES : 9% to 12%, depending on a variety of factors, including loan amount, property condition, credit and overall strength of file. 3.75% points, $1650 in other loan fees.
HOW MUCH WE LEND: Max loan to value (LTV) is 65% to 75% of appraised value on refinances. 25% to 35% down payment on purchases. An appraisal by an approved appraiser may be required.
INCOME: You must prove your ability to make the monthly payments and repay the loan. Traditional income documentation is preferred; however, we will accept bank statements, lease agreements and other documentation to prove sufficient cash flow.
CREDIT: No minimum FICO. Borrowers with Bankruptcies, Short Sales, and Foreclosures are OK. Generally, tax liens would have to be satisfied/settled from the loan proceeds.
WHAT WE LEND ON: Our focus is on detached single-family residences; however we will consider Condos and Town homes.
***Just 20% down could be the minimum IF your credit score is at least 580 and meet other requirements. The rate would be between 6% and 9%. For this program, your income is based on tax returns. Recent Bankruptcies, Short Sales, and Foreclosures are OK.
Please tell me the property address, approximate value, and how much money you need. EMAIL OR TEXT IS BEST: 702-721-7230 firstname.lastname@example.org