What are Hard Money Loans?
Hard money loans are usually provided by a group of private investors. They can become very useful for transactions that banks won't approve such as no credit, no income, or on property type or condition which are not approved.
When you need money fast to close on a real estate transaction a hard money or a bridge loan can come to the rescue to save the deal. There are instances when you need to purchase a new home before selling and closing on another property, a private bridge loan can help make that transaction possible. You don't need any proof of income or credit for these types of loan however you do need a down payment of at least 35% or more. Interest rates from 8%. This special financing option is available in South Florida only.
Guidelines For Hard Money Loans
Here are some basic guidelines to follow to apply for hard money loans:
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Property types allowed:
Residential (non-homestead property), commercial properties, vacant land, office building, construction or remodeling​
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Loan-to-value:
up to 65% of appraised value.
Land 50% of appraised value.
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Term: up to 2 years
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Credit: No credit needed
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Interest rate: From 8% I/O payments
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Area where we currently offer Hard Money Loans:
South Florida (Miami Dade, Broward, Monroe & Palm Beach)
Closing 3 to 5 days once all the documentation is ready
Hard Money Loans Are Easier Than You Think!
Easy and Convenient
Here’s how our home purchase loan process works:
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Complete our simple Hard Money Loan Qualifier
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Receive options based on your unique criteria and scenario
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Compare mortgage interest rates and terms
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Choose the offer that best fits your needs