Hard Money Offers: Competitive Rates and High CLTVs

[Karen Schimpf]

                                                                                                                                                                                             https://flic.kr/p/PmNUGY

In the realm of real estate financing, hard money loans stand as a unique solution for investors seeking quick access to capital. Unlike traditional bank loans, these loans are collateral-backed and cater to a specific niche within the real estate market. Here, we delve into what hard money loans are, how they work, who provides them, and what criteria borrowers typically need to meet.

Why Hard Money Loan?

A hard money loan is a type of short-term financing typically used by real estate investors for purchasing, renovating, or refinancing properties. Unlike conventional loans that are based on the borrower’s creditworthiness and income, hard money loans are secured by the value of the property itself. The loan amount is determined based on the estimated value of the property after any proposed repairs or renovations are completed.

How Hard Money Loans Work

Hard money loans usually have a shorter term compared to traditional loans, typically ranging from six to twelve months, although longer terms can sometimes be arranged. During this period, the borrower makes monthly payments to the lender, often consisting of interest-only payments. The loan is repaid either through the sale of the property or by refinancing with a more traditional mortgage.

Commercial Capital LTD Lends Hard Money

Hard money lenders, such as our company, specialize in providing these types of loans. They fill a gap in the market by offering quick access to capital for real estate investors who may not qualify for traditional financing or need funds more rapidly than traditional lenders can provide.

Our Hard Money Loan Criteria

At our company, we pride ourselves on offering flexible hard money loan options. Our criteria include:

• No FICO score restrictions
• Up to 90% to 100% Combined Loan-to-Value (CLTV) financing
• Acceptance of rural
• Bankruptcy bailouts are acceptable
• Utilization of borrower-provided appraisals
• No restrictions on property types
• Borrowers must show they have enough capital to complete the deal
• Prior real estate experience adds strengthens to the deal

Requirements for a Hard Money Loan

While hard money lenders are typically less concerned with a borrower’s credit score, they do scrutinize the property being purchased and the borrower’s plans for increasing its value. Additionally, borrowers must demonstrate sufficient capital to successfully complete the deal, and prior real estate experience is often considered advantageous.

Hard money loans serve as a vital tool in the real estate investor’s toolkit, offering quick access to capital for property purchases, renovations, and refinancing. Our rates can start in the 9's. Hard money loans provide a valuable solution for investors looking to capitalize on real estate opportunities quickly and efficiently.

Give us a call today to discuss your commercial finance needs or get started by filling out this form!

Karen Schimpf

(512) 358-1511

[email protected]

www.ApplyCommercialLoans.com

Give me a CALL TODAY at 512-358-1511 or get started by filling out this form!

P.S.- Unlock the potential of your business with SBA loans - tailored financial solutions designed to fuel growth and empower entrepreneurs. Let's navigate the world of SBA loans together, ensuring your business thrives with the right support and expertise at your side.