HARD MONEY CAN BE EASY MONEY FOR YOUR REAL ESTATE DEALS TAMERA ARAGON
loan payment, our hard money lenders will accept loans made to persons who have unconventional incomes. If
you have no income or means of repaying the loan, you will not qualify for a hard money loan, period.
4.
You have a rural property, unique property, or mixed-use property and have found it difficult to qualify
for a conventional loan, as long as there’s sufficient equity in the property, and our hard money lender
deems the property a worthwhile investment, you qualify for a hard money loan;
5.
You need a cash equity loan with less than perfect credit and have a 1st mortgage with a negative
amortization feature — with the right amount of equity after the required adjustment for the potential
negative amortization you may qualify for a 2nd mortgage hard money loan;
6.
You need a short-term loan to build, rehab, or remodel real estate or make improvements to raw
land prior to selling the property or refinancing into long-term permanent financing (note-hard money
loans used for these purposes require a future value appraisal and construction documentation for
approval);
7.
The property is in the name of a “non-natural person” — your property is held in the name of a trust,
LLC, corporation, or an entity — rather than an individual.
8.
You need a business loan secured by equity in real estate, but cannot qualify or wait for a conventional
business, commercial, or SBA loan;
9.
You are a Foreign National with no long-term U.S. employment or other assets
Do not consider a hard money loan if- - •
You would have less than 30% or more
equity remaining in the property after the
new loan, including any points and fees
financed (Note: the amount of required
equity for hard money loans varies by
property type and investor);
•
You are looking for a low-interest rate
loan, or a loan with low points and fees;
•
You cannot repay the loan according to
the terms of the Note;
Hard Money loans
have one basic requirement.
There has to be
some substantial equity
in the property
to give the lender a reason
to invest their funds
in an otherwise risky venture.