Bridge / Hard Money Loans
These loans are for customers that need temporary financing until they can acquire permanent funding. These loans in most cases have a very short term and a high interest rate.
WE CAN CLOSE IN 7 DAYS!
Guidelines / Requirements
– Credit score is not a factor
– LTV 45% – 65% cases by case
– Exit strategy has to be solid / concrete
– Will lend on the following
A) Real estate ( All types )
– Cash flow is a cases by case scenario
– Loan amount – $500k – $1 billion
– 1 – 5 years (Based on the project) Balloon note at the end of the term
– Interest rate – 10% – 15.99%
– Monthly payments are interest only
– No pre-payment penalty ( In most cases )
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