Usually yes. Although there are times when we will not allow secondary liens, most times we don’t worry about where you come up with the remaining money to buy the property, whether from a business ...
The down payment for hard money lenders typically ranges from 10% to 40% of the property’s purchase price. We are usually at 20% down payment. The exact amount depends on the overall project, the borrower’s ...
Before providing documents, we can have a quick conversation to make sure your project is a good fit or you can fill out our loan application (it takes less than 1 minute) at https://www.hardmoneybankers.com/loan-application/. Once ...
No, we don't use appraisals mostly because the time it takes to get them back and we try to close our loans very quickkly. Most hard money lenders (including Hard Money Bankers) that use private ...
One of the best things about a hard money loan is the speed at which you can get one. Approvals are typically granted within 24 hours and settlements can take place in less than a ...
Most hard money loans require monthly payments which are interest-only payments during the term of the loan and then a balloon payment at the end of the term. Here are some common payment structures: Interest-Only ...
Hard money lenders charge points or origination fees that range from 2% to 6% of the loan amount. While hard money loans have higher rates than traditional mortgages, securing a lower rate depends on other ...
Depending on your situation a Hard money lender can be worth using, but they come with pros and cons. They offer fast, asset-based loans with flexible terms, making them ideal for real estate investors, house ...
Most hard money lenders that use private capital don’t require a standard appraisal. However, they may use a broker price opinion (BPO), an internal valuation, or a comparative market analysis instead of a full formal ...
When presenting a deal to a hard money lender, borrowers should provide information on the property's value and their ability to execute the project successfully. This includes a clear game plan on what they plan ...
Hard Money Bankers, LLC
10015 Old Columbia Rd, Suite H-125 Columbia, MD 21046
800.883.8290 | info@hardmoneybankers.com
All Rights Reserved. Hard Money Bankers, LLC makes commercial, business purpose loans. Loans are for investment purposes only and not for personal, family, or household use. Loan product availability may be limited in certain states. This is not a commitment to lend. All loans are subject to borrower underwriting and credit approval, in Hard Money Bankers sole and absolute discretion.
800.883.8290