Why would I choose "Hard Money" over Bank Financing?

The time frame you are working with is the major factor. When time is of the essence, hard money is the only choice to make. A bank cannot act as quickly compared to a hard money lender especially in a foreclosure situation. A bank will not loan on properties that need repair.

Do you deal with owner occupant purchases?

We deal solely with investment properties. We are not permitted to loan on owner occupied or Homesteaded properties due to certain guidelines.

What is your loan to value?

We loan 50% of the after repaired market value subject to credit worthiness and
inspection of the property.

Do you loan 100% of the purchase price?

No at this time. Due to market conditions we require at least 10% down payment depending on the LTV and credit worthiness of the borrower.

Do you look at credit?

Yes. Credit is one of the determining factors when obtaining a loan through our company. The better the credit, the higher LTV we will be willing to give.

What if I have bad credit?

We have dealt with less than stellar credit situations before. We may require a higher down payment, lower LTV or charge higher rates/points. Once you have established a relationship with us, we will more willing to lend to you at a lower rate and/or terms.

What types of properties do you loan on?

Mostly single family homes, Others on a case by case basis. See LOANS Download

Do you loan money at the courthouse steps?

No. When buying at the courthouse, you are buying "subject to" any other encumbrances. There is usually no title insurance available, You can buy with your own cash and then refinance your cash out with us after we check title. Unless you already have clear title on the property, we cannot close. We must have clear title before funding.

Do you do refinances?

Yes, but we only refinance for investors and are always the first lien holder. Dependent on the value of the property and situation, we would pay off your existing mortgage so that you could pull cash out.