Commercial Hard Money Financing
General lending Parameters:
- Loans from $15,000 to $25,000,000*
- 17-yr. term; 2 yrs. interest only, converting to 15-yr. full amount in yr. 3*
- “Start rates”: Yrs .1-2: From 9.99%; Yrs.2/3-17: 11.99-15%*
- No prepay penalty nor balloon
- LTV: 80-85% of purchase price for new borrowers; not to exceed 65-70% of ARV, with acceptable credit. Limits to rise, with good borrowing experience. No repair money.*
- Borrower requirements: Tri-merge credit report with first loan (or we can run it) and copy of contract (if purchase). No credit pulls thereafter. No assets, no income, no first-born!
- Below mid 600’s, possible adjustment on rate and/or LTV.*
- All types of residential or residential income real estate, including condos, townhomes.
- All types of Commercial Hard Money Loans or Commercial income real estate.
- We make non-recourse loans to self-directed IRAs!
- We do Transaction Funding. (We provide free Proof of Funds letters.)