READ THROUGH THIS ENTIRE PAGE THEN USE THE CONTACT FORM TO SEND ME YOUR SCENARIO. NO CALLS OR TEXTS PLEASE. USE THE CONTACT FORM AT THE BOTTOM OF THE PAGE.
Funding of these loans is done by a private individual, so the terms vary based on the situation. BEST CASE would be 25% down (75LTV), rate of 8% + 3 Points + $500 Underwriting Fee. Recent 6 mo. housing payment history must be 0 x 30 day late payments. Loans are NOT made based on equity alone, so you must prove that you can make the payment.
Are you sure you need “Hard” Money? If you can show consistent income through your bank account for at least 12-months, you may qualify for a Bank Statement Loan AT A MUCH LOWER RATE/FEES THAN HARD MONEY AND THE DOWN PAYMENT IS LOWER!!! 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.
How to Get Approved: Don’t call me and try to explain your deal over the phone. Describe the deal using the contact form below, providing information such as property address, your approximate credit score, total bank balances, along with whatever else you think is relevant, such as your experience in the Real Estate field, renovation experience, etc.
*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.
Many people find that even with the higher rate, buying Real Estate with Hard Money can still be a solid investment. Rather than tying up up your money by paying cash, consider using hard money to fund your next property. The Return on Investment when buying with a loan can be much higher than buying with cash! 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. In short, you must show that you can afford to make the payment. Loans based on equity alone are NOT allowed.
Senior Loan Officer
All Western Mortgage
(established in 1981)
“Dan The Loan Man”
702-326-7469 talk/text every day
Dan’s Licensing: NV MLD 45649, CA-DBO313289, CO-100516554 NMLS 313289
All Western Mortgage, 8345 W Sunset Rd Ste 380. Las Vegas, NV 89113
702-326-7469- TALK OR TEXT | | 702.369.0905 – Switchboard (Ask for Dan)
Company NMLS# 14210, NV Division of Mortgage Lending Lic# 204, CA Dept of Corporations Lic# 603F053, CA Dept of Real Estate Lic# 01893025, CO Division of Real Estate.