residential-hard-money-loans

What is Residential Hard Money Lending?

residential-hard-money-loans

Purchasing an investment property is one of life’s significant investments with many variables to consider at every stage. This is equally as important as a right investment to finding a right loan.

Bridge loans structure our loans to comply with all applicable regulations and work collectively to define your goals, priorities and budget to secure the best loan resulting in a hassle free closing.

It is an important segment of lending and a heck of a niche for our residential hard money lenders to make our clients remove disambiguates with heavy protection.

How is Residential Hard Money different from a bank loan?

# Bank Pre-Foreclosure Loans
Basis for loan approval Income, credit score, tax returns, financials, appraisals, etc… Residential Real estate assets
Minimum FICO scores Typically 700+ None
Required documentation Significant Minimal on the property
Upfront fees Appraisals, application fees, etc… None
Property Type Owner occupied and investment properties, capped on number of properties On residential loans can only lend on investment single family homes
Loan Money Received 60 days + Less than 10 days

When is a Residential Hard Money loan appropriate?

  • Borrowers with diminished credit (Pre-Foreclosure Loans can lend to borrowers with any credit including past bankruptcies).
  • Tax Liens/Judgements/unpaid items etc..
  • Borrowers that require funds rapidly on their residential investment property.
  • Time constrained borrowers/ Borrowers require fast closing.
  • borrowers requiring a stated loan due to tax returns (or lack of).
  • Foreclosure avoidance.
  • Foreign Nationals.
  • Borrowers don’t have the time or energy to hurdle through several girdles of a conventional lender.
  • Complex loans with multiple pieces of collateral
  • Pre-foreclosure has the ability to handle various exclusive residential real estate financing requirements with no upfront fees on investment single family homes