Commercial Hard Money Loans

Program:

Designed for the borrower that needs a lite document, easy to close commercial real estate loan.  Designed also for the borrower who either due to personal problems or time related characteristics cannot qualify or would have great difficulty qualifying for traditional institutional quality commercial real estate financing.

Loan Size:

$250,000 to no maximum

Location:

Nationwide except Alaska and Hawaii

Property Types:

All types considered except ground up construction and land development.

Lien Position:

first mortgage or deed of trust.

Interest Rate:

9-1/2 – 16% depending upon overall transaction credit quality including guarantor credit score, LTV, loan amount, property type and property condition.

Loan to Value:

50 – 75% depending upon property type, state and guarantor credit score.

Amortization:

Generally 15 years but will allow 20 on case by case basis.

Loan Term:

Generally 15 years but will allow 20 on case by case basis.

Origination Fee:

2% (no fee for correspondents)

Points:

2 – 5 points depending on situation

Closing:

Approximately one (1) week from receipt of complete loan underwriting package and confirmation of real estate value.

Assumption/Transfer:

Provided the loan is not in default and subject to Lender’s discretion, loan may be assumed for a fee of 1%.

Prepayment/Lock Out:

Not allowed for the first two years.  5% of the unpaid principal balance due during years three through five.  After year five, the loan has no prepayment premium.

Recourse:

Yes

Escrows:

Required for taxes and insurance.

Click here to fill out the Quick Loan Request Form.