Private “Hard” Money

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Investor Loans

Dan’s word is his bond.

Dan is the Man when it comes to Private Money in Las Vegas! So no ones time is wasted, please read this page in its entirety BEFORE contacting Dan.

Attn: 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.

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!!! 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 below 580.

HARD MONEY RATES/FEES: 9.5% 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. Second Mortgage will be considered. Smaller loan amounts could incur an increase in points.

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. ITIN buyers will be considered as long as you files taxes.

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: We will consider any type of property. Condos too!!!

ITIN:  If you have an ITIN and file taxes, we may be able to help.

Please give Dan the property address, approximate value, and how much money you need. EMAIL OR TEXT IS BEST: 702-326-7469  DSherbondy@AllWestern.com

*sample: Loan Amount of $187,500 amortized over 30 years, rate 10%, 3.75% origination, $1600 Underwriting, the APR is 10.606%. Points may be higher on loan amounts under $150,000.

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.

 

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