Buy and Hold Hard Money Loans
Hard Money Loans GLHF is a hard money lender that assist experienced flippers and landlords finance investment projects.
|LOAN TERM||12 months|
|Extension Fees||1% for 3 month|
|Min Credit Score||600|
|Roll Points into Loan||Yes, .5pt Premium|
|Payments Due||Monthly IO|
|3rd Party Servicing Fee||$15/mo|
|Draw Request Fee||$200|
Buy & Hold
A hard money or private money loan is a short-term loan secured by the property itself and used by investors to buy and repair a property before it is refinanced. Real Estate Investors typically use “buy and hold” hard money loans to purchase, rehab, and then refinance the property. These loans are ideal for financing properties in poor condition that a bank usually would not approve.
Our hard money loans have lower qualifications and require significantly less paperwork for approval compared to banks. Many times when acquiring wholesale properties the investor needs to receive funds quickly. Most of our Hard Money Loans customers receive funding within 2 weeks. Hard Money Loans GLHF and its underwriting guidelines care more about the property and its potential after repair value (ARV) than about the borrower’s background as the loan is guaranteed by the property. However a high credit score will earn you a lower interest rate.
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