How Do They Work?
FAQs – Hard Money Loans
FAQs – Hard Money Loans
A hard money loan is a real estate-backed loan where a borrower receives funds secured by equity in their property (or properties). Hard money lenders like Hard Money Loans GLHF are mainly focused on the equity in the property as opposed to borrower credit and financials. Hard money loans are typically short-term ranging from six months up to two years.
Hard money lenders like Hard Money Loans GLHF primarily focus on a property’s equity to secure the loan. The borrower’s credit is considered, but is not a primary determinant in the underwriting process.
We will consider a wide variety of loan types including: purchase, refinance, cash-out refinance, partnership buyouts, rehabs, 1031 exchanges and value-added acquisitions.
Hard Money Loans GLHF will consider a wide variety of property types including: office, retail centers, industrial, hotels, parking lots/structures, condo inventory, entitled land, multifamily properties, non-owner-occupied single-family homes, vacation homes and rentals, primer loans and bridge loans.
Our interest rates typically range from 8.5% to 12%, interest-only. Lender origination points typically range from 1% to 5% of the loan amount. The borrower pays for standard closing costs (title, escrow, legal).
You can either complete our online loan application, email or call us. We would prefer to talk through your loan scenario directly, as we can determine in a matter of minutes, once we have a few simple questions answered, if we have interest.
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