Private "Hard" Money Mortgage Loans

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Private Money Loans aka Hard Money Loans or Bridge Loans are funded by private individuals, so the terms vary based on the situation. Lowest rate with 25% down (75LTV) is 10.99%. 30% down starts at 7.99%.  2.5 – 3% origination points. On primary residences, a recent 6 mo. housing payment history must be 0 x 30 day late payments. On Primary Residence loans you must prove that you can make the payment. Interest only may be an option. Typically there are no pre-payment penalties.

Whether it’s called a short-term loan, investor loan, or alternative loan, if you can show consistent income through your bank account for at least 12-months, you may qualify for a Bank Statement Loan. You must have at least 2-years self-employment for a Bank Statement loan. Hard Money from a Private Investor may be the best option if you do not show enough income on your tax returns, and have less than 12-months of bank statement income, or if your credit score is less than 620.

Fix and Flips: Yes, we do loan on these but you must be experienced and have the down payment, closing costs and the money for the renovations.

*sample: Loan Amount of $187,500 amortized over 30 years, rate 8%, 3 % origination, $ 500 Underwriting, the APR is 8.806%.

We ONLY loan money when the loan is secured by Real Estate. If you don’t own Real Estate or are not looking to buy Real Estate, you came to the wrong place.

Ask about Dan’s “Same as Cash” Pre-Approval letter which will help you compete with that pesky cash buyer. Whether is called Hard Money or Private Money, we must comply with state and federal laws.