Owner Occupied or 2nd (Vacation) Home: 7.99% + 3 Points + $500 Underwriting Fee. Full Documentation for income and assets (Tax Returns or Pay Stubs and W2’s) or 12 months bank statements. 12 mo. seasoning required on major derogatory events including SS, Foreclosure, BK. Recent 6 mo. housing payment history must be 0 x 30 day late payments.
Owner Occupied, 2nd Home, Rental Property, “Flips”: 8.99% + 3 Points + $500 Underwriting Fee. Full Doc, 6 mo. Bank Statements, or Asset Qualifying. No Seasoning on major derogatory events – including SS, Foreclosure, BK – must be settled. Recent 6 mo. housing payment history reviewed for acceptance.
Owner Occupied, 2nd Home, Rental property, Properties zoned commercial: 9.99% + 3 Points + $500 Underwriting Fee. Full Doc, 6 mo. Bank Statements, or Asset Qualifying. No Seasoning on major derogatory events – including SS, Foreclosure, BK must be settled. Requires certificate of homebuyer education) Recent 6 mo. housing payment history reviewed for acceptance.
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.
Fix and Flips: Yes, we do loan on these but you must have the down payment 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 7.99%, 3 % origination, $ 500 Underwriting, the APR is 8.606%.
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, Arizona Lic# 0923280, Licensed by the CA Dept of Corporations Lic# 603F053, CA Dept of Real Estate Lic# 01893025, CO Division of Real Estate, Florida Lic# MLD895, NM Financial Institutions Division Lic# 03619, UT Division of Real Estate Lic# 7776975,
OR Dept of Consumer & Business Services Lic# ML-4924, TX Dept of Savings and Mortgage Lending – Consumer Notice, WA State Dept of Financial Institutions Lic# CL-14210.