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A "hard money" loan is a short-term bridge loan used to acquire or refinance a property when conventional financing is not available or will simply take too long to close. A hard money loan is a great fit in the following situations:
At Capital Funding Financial, our hard money loans close very quickly... even in as little as 5 days! Our hard money loans require no personal income verification and very little documentation!
What is a hard money loan typically used for? A hard money loan also known as an asset based loan is traditionally used to finance the acquisition of the property, as well as improvement or renovations for real estate investors or as a short term financing solution for borrowers who can not qualify through a conventional bank. In the case of a real estate investor, after the renovation is complete the property will be sold or leased up. The hard money loan will then be refinanced with a lower rate & longer term permanent financing. Essentially, hard-money loans "bridge" the gap for the investor until permanent financing becomes available or the asset is sold.
|Loan Amount:||$250,000 - $5 Million|
|Term Length:||5 YR, 7 YR, and 10 YR Terms|
|Max LTV:||Up to 80%|
|Amortization:||Interest only or Full Amortization|
|Interest Rate:||Starting at 6.35%|
|Closing Time:||10 - 17 Days|
|Loan Use:||Purchase, refinance, cash-out,|
Single Family is classified as one to four-unit residential use dwellings including condominium, P.U.D., townhomes, duplex’s, triplex’s, and quadplex’s. At Capital Funding Financial, we will lend to real estate investors and entities looking to purchase, refinance, fix & flip, or buy to rent from $75,000+.
Multi-family is a classification of housing where multiple units (5+) for residential use are contained within one or more buildings within one community or complex. At Capital Funding Financial, we will lend to real estate investors looking to purchase or refinance multi-family properties with loan amounts of $250,000+.
Mixed-use is a type of development that blends residential and commercial uses into one integrated complex or building. At Capital Funding Financial, we will lend to real estate investors in the following scenarios: purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take out on mixed use projects with loan amounts from $250,000+.
Retail is any property used for commercial retail space such as a storefront for selling goods or services. Capital Funding Financial will lend to real estate investors and business owners who are looking for a loan for: purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take out from $250,000+.
Office is a property classification which generates income from tenants comprised of businesses and professionals. Capital Funding Financial will lend to real estate investors and business owners who are looking for a loan for: purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take out from $250,000+.
Capital Funding Financial will lend to experienced operators with a flag in the hotel and lodging sector. Loan amounts are $500,000+.
Other eligible properties include: Self storage, senior housing, marinas, parking facilities, automotive
Common uses include: Acquisition, refinance, cash-out, renovation / construction
Origination Fee: 1.00% - 2.50% of the loan amount
Underwriting Fee: $1,495 - $1,995
Legal Fee: $1,495
Minimum of 3 Years (Declining: 3%, 2%, 1% Structure)