A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by the value of a parcel of real estate.
|Non-conforming asset based loan|
|Rates start at 9.99%|
|Term 12 – 36 months (Usually with 6 – month Interest Guarantee)|
|History of low credit, short sales or foreclosures, foreclosure bailouts, etc.|
|Max LTV 60%|
Property types include: Mixed-Use, Multi-Family, Office, Retail, Warehouse, Lt. Industrial, Self-Storage, Automotive, Restaurant/Bar, and more.
Needed For Submission
|1. Executive Summary|
|2. A Complete 1003 and Personal Financial Statement for all Borrowers|
|3. Current Trimerge Credit Report (within 30 days)|
|4. Color Pictures of Subject Property|
|5. Rent Roll|
|6. Operating Statement (investment properties only)|
|7. 2 Years Tax Returns Personal and Business (if applicable)|