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Hard Money

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Hard money and Bridge loans are a type of short-term real estate financing. These loans are for real estate investors who need quick access to real estate capital. 

  • 620+ Fico
  • 10% down payment
  • 3 year IO Option
  • Full Doc & Alt Doc ok
  • Loans to $3 Mil+
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HARD MONEY LOANS

HARD MONEY LOANS

Hard money loans offer quick access to capital secured by property, ideal for investors needing fast financing, despite higher interest rates.
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LOAN PROGRAM DETAILS

Typical guidelines for Hard Money loans.

Docs

 Full

Credit Score

620

LTV

   90% 

Max Loan

$15 Mil+

Hard Money Features

  • Short-term loan
  • Secured by collateral
  • Flexible underwriting guidelines
  • Quick funding process
  • Less emphasis on credit score

Hard Money Benefits

  • Fast access to capital
  • Ability to purchase properties quickly
  • Flexibility in loan terms
  • No prepayment penalties in some cases
  • Less strict requirements compared to other loans.
POPULAR HARD MONEY LOANS
Traditional
Prime
Fannie / Freddie
In today’s ever-changing financial landscape, the 30-year fixed mortgage remains a popular choice for homeowners seeking predictable payments and long-term stability.
BENEFITS
  • 680+ Fico
  • 10% down payment 
  • 30yr, 15yr fixed
  • Full Doc
  • $726,000 – $1.396 mil
Big Loan Amounts
Prime Credit & Assets
Jumbo/Super Jumbo
Jumbo and Super Jumbo loans are a type of mortgage designed to finance high-value properties that exceed the conforming loan limit set by Fannie Mae and Freddie Mac.
BENEFITS
  • 700+ Fico
  • 10% down payment 
  • 30yr, 15yr fixed
  • Full Doc w 12 Months Reserves
  • Loans to $3 Mil+
Traditional
Prime Credit & Assets
Investment & 2nd Homes
Investment and second homes can be a smart financial decision, but securing financing for these types of properties can be challenging.
BENEFITS
  • 700+ Fico
  • 10% down payment
  • 30yr, 15yr fixed
  • Full Doc w 12 Months Reserves
  • Loans to $3 Mil+

Hard Money Residential Mortgage Loans

Hard money residential mortgage loans are a type of loan that is typically used by real estate investors or individuals who are unable to obtain traditional financing. These loans are usually issued by private investors or companies and are secured by the property being purchased. While hard money loans can be more expensive than traditional mortgages, they can provide a faster and more flexible financing option.

Qualifications for a Hard Money Residential Mortgage Loan

Qualifying for a hard money residential mortgage loan is different than qualifying for a traditional mortgage. While traditional mortgages focus on the borrower’s creditworthiness and ability to repay the loan, hard money lenders primarily focus on the value of the property being purchased. Here are some of the qualifications you may need to meet:

  • Collateral (the property being purchased)
  • Equity (you may need to have some equity in the property)
  • Proof of income (some lenders may require proof of income to ensure you can repay the loan)
  • Ability to repay (the lender will want to see that you have a plan to repay the loan)

Documentation Required for a Hard Money Residential Mortgage Loan

To apply for a hard money residential mortgage loan, you’ll need to provide several documents to the lender. Here are some of the documents you may need to provide:

  • Personal information (name, address, Social Security number, etc.)
  • Proof of income (bank statements, tax returns, etc.)
  • Asset documentation (bank statements, investment account statements, retirement account statements)
  • Property documentation (purchase agreement, property appraisal)
  • Employment documentation (letter from employer, proof of self-employment income)
  • Credit history information (credit score, past bankruptcies, foreclosures)

Benefits of Hard Money Residential Mortgage Loans

While hard money loans can be more expensive than traditional mortgages, they can provide several benefits:

  • Faster financing (the approval process can be much quicker than traditional mortgages)
  • Flexible terms (hard money loans can have more flexible terms than traditional mortgages)
  • Ability to purchase distressed properties (hard money loans can be used to purchase properties that may not qualify for traditional financing)

Our team of experienced mortgage professionals can guide you through the process of obtaining a hard money loan and help you secure the financing you need.

 

Learn more about Blanket Mortgage options today!

FAQS

What is a hard money loan?

A hard money loan is a type of short-term financing typically used by real estate investors to purchase or renovate properties quickly. These loans are secured by the value of the property being purchased rather than the borrower’s creditworthiness, making them popular among investors who may not qualify for traditional financing.

How does a hard money loan differ from traditional financing?

Hard money loans differ from traditional financing in that they are typically funded by private investors or private lending companies rather than banks or financial institutions. These loans have shorter terms, higher interest rates, and are based primarily on the value of the property rather than the borrower’s credit history or income.

What are the benefits of a hard money loan?

Hard money loans offer real estate investors several benefits, including fast approval and funding, flexible lending criteria, and the ability to finance properties that may not qualify for traditional financing due to their condition or other factors.

Who is eligible for a hard money loan?

Eligibility for a hard money loan is typically based on the value of the investment property and the potential profitability of the investment rather than the borrower’s credit score or income. Real estate investors with a solid investment strategy and a viable exit plan are often best suited for hard money loans.

What types of properties are eligible for hard money loans?

Hard money loans can be used to finance various types of investment properties, including residential properties (such as single-family homes, multi-family properties, or condominiums) and commercial properties (such as office buildings, retail spaces, or industrial properties).

How much funding can investors receive through a hard money loan?

The amount of funding available through a hard money loan depends on factors such as the value of the investment property, the potential profitability of the investment, and the lender’s lending criteria. Hard money lenders typically lend a percentage of the property’s value, known as the loan-to-value (LTV) ratio.

What is the typical term for a hard money loan?

The typical term for a hard money loan ranges from a few months to a few years, depending on the lender and the specific terms of the loan. Hard money loans are designed to provide short-term financing until the borrower can secure longer-term financing or sell the property.

How do I apply for a hard money loan?

To apply for a hard money loan, real estate investors should contact hard money lenders or private lending companies to discuss their investment goals and borrowing needs. They will need to provide documentation of the investment property, their investment strategy, and their exit plan for repaying the loan. The lender will review the application and determine the loan amount and terms for which the borrower qualifies.

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