Hard Money Bridge Loan – Fix and Flip Loan Summary
- 1.When you need a fast closing (Our quick close time is 5 days!)
- 2.When high leverage or a low down payment is required.
- 3.When the property needs funds for renovations.
- 4.When you cannot provide verifiable income (no tax returns required).
- 5.When the asset is not yet stabilized, leased up, or producing any income.
- 6.When you want a short term loan with no prepayment penalty.
We offer a 100% program and a limited documentation 90% down loan program. Fix and Flip loans are a great way to leverage your existing capital to generate more income with the ability to close & flip more projects at once utilizing bank funds!
Hardmoneyloanlender.com finances the acquisition and the rehab costs of the project.
Program Summary
| Loan Amount: | $100,000 – $250 Million |
| Term Length: | 12 – 36 Months |
| Max LTV: | 100% (90% Limited Doc) |
| Rehab: | Funded 100% |
| Amortization: | Interest only |
| Interest Rate: | Starting at 6.99% |
| Closing Time: | 5 – 14 Days |
| Loan Use: | Purchase, Rehab, Refinance Cash out refinance |
Pro's About Hard Money Loans:
- Flexibility
- Quick closing in 3 - 7 Days
- Interest-only payments
- Wide range of property types
- No Minimum credit requirement
What Do I Need To Qualify?
- Simple... Equity in the property!
- Origination Fee: 1.50% - 2.75% of the loan amount
- No Prepayment Penalty
- No Appraisal Necessary
- Under 600 Credit Up to 65% LTV
- Over 600 Credit Up to 80% LTV
Eligible Properties for Hard Money Loans
Single Family
Single Family is classified as one to four-unit residential use dwellings including condominium, P.U.D., townhomes, duplex’s, triplex’s, and quadplex’s. At HardMoneyLoanLende.comr, we will lend to real estate investors and entities looking to purchase, refinance, fix & flip, or buy to rent from $75,000-$200 million.
Retail
Retail is any property used for commercial retail space such as a storefront for selling goods or services. HardMoneyLoanLender.com will lend to real estate investors and business owners who are looking for a loan for: purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take out from $250,000+.
Multi Family
Multi-family is a classification of housing where multiple units (5+) for residential use are contained within one or more buildings within one community or complex. At HardMoneyLoanLender.com, we will lend to real estate investors looking to purchase or refinance or cash out multi-family properties with loan amounts of $200,000-$200 million.
Office
Office is a property classification which generates income from tenants comprised of businesses and professionals. www.HardMoneyLoanLender.com will lend to real estate investors and business owners who are looking for a loan for: purchase, refinance, cash out refinance, bridge to stabilization, bridge to sale, or bridge to construction take out from $200,000-$200million.
Mixed Use
Mixed-use is a type of development that blends residential and commercial uses into one integrated complex or building. At HardMoneyLoanLender.com, we will lend to real estate investors in the following scenarios: purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take out on mixed use projects with loan amounts from $250,000+.
Hospitality
HardMoneyLoanLender.com will lend to experienced operators with a flag in the hotel and lodging sector. Loan amounts are $500,000+.
Ground Up Construction Loans
Up to 85% of land, 100% of Construction. Ground up is available for owner occupied, spec homes, PUDs.
Other eligible properties include: Self storage, senior housing, marinas, parking facilities, automotive
Common uses include: Acquisition, refinance, cash-out Refinance, DSCR Loans, renovation / construction, Fix and Flip Loans, Fix to Rent Loans.Ground up construction loans, Multifamily Value Add.
Required Documents for Closing
-
Property
Documents
- Purchase Contract
- Payoff Statement (if Refinance)
- Rent Roll & Leases
- Renovation Budget (if Rehab)
-
Personal
Documents
- Loan Application
- Track Record / Experience / SREO
- Last Month's Bank Statement
- Drivers License and/or Passport
-
Business
Documents
- Articles of Incorporation
- Operating Agreement (LLC) or Bylaws (Corp.)
- EIN Letter
Is a Hard Money Loan Right For Me?
Need to close fast? Hard Money Loans are a great fit!
Benefits of Hard Money Loans:
- No Income Documentation
- No Credit Minimum
- No Appraisal Req.
- Quick Closing: 3 to 7 Days
- Rates Starting at 7.49%
- Up to 80% Loan to Value
- No Debt Service Coverage Req.
- No Prepayment Penalty
- No Upfront Lender Fee
Hard Money Loan Approval Process
Close in as little as 3-7 Days with 5 easy steps!
Step
1
Submit Loan Request
Step
2
Upload Documents & Accept LOI
Step
3
Valuation & Title Ordered
Step
4
Final Legal Review
Step
5
Closing
For residential and owner occupied loans CLICK HERE!