HARD MONEY LOAN
non-recourse
If you need funding in a hurry and if you have collateral available, a hard money loan may be the right solution for you. Hard money lenders are able to make loans banks can’t - the ones banks consider riskier than commercial loans. They’re often used to purchase, refinance with cash out, or for construction.
ABOUT HARD MONEY
Because hard money loans are quick and convenient they are more expensive. The typical hard money loan is short-term and generally ranges between one to seven years, longer terms are available on a case-by-case basis. Interest rates can range from 9% to 14%. Interest only payments keeps this type of financing affordable. Interest reserve is also available with Loan to Values as high as 70%.
Quick facts:
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Loan Amounts: $2,000,000 – $500,000,000
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Rates: Start as low as 8.99%
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Loan Term: 1, 2, 3, and 7 year terms available
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Closing: 2-3 weeks