Frequently Asked Questions (FAQs) about Hard Money Loans

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Frequently Asked Questions

Q: How fast can I get a loan on my House?
A: With all the proper documentation it takes between 24 hours to one week .

Q: How Much Can I borrow?
A: Up to 80% Loan To Value is a good rule of thumb. We have no hidden fees!

Q: Do I need to be employed?
A: No but you do need to show enough income to cover the monthly payment. We definitely understand non standard income and we constantly lend where bank's rigid income models produce denials. Hard money loans are what community banking used to be: someone that lives and works locally and gets if someone is making money or not.

Q: Can I be on disability or retired?
A: Yes

Q: Do I need good credit for a loan?
A: No! No credit or bad credit is okay.

Q: Is there a pre-payment penalty?
A: No, you can pay off your loan at anytime with no prepayment penalties.

Q: Does my property need to be paid off?
A: We can often do second liens but you need to have a solid amount of equity in the property.

Q: What if my title is in my name and another person's name?
A: In most cases this is not a problem.

Q: Are you an owner occupied hard money lender?
A: Yes.

Q: What is the difference between a hard money lender and a private money lender?
A: There is no difference. Some people use "hard money" when they refer to a company like ours and use "private money" or "private funding" when they mean a loan from a rich friend or relative.

Q: Which is easier to get, an owner occupied hard money loan or an investment hard money loan?
A: There are a lot less rules with investment lending. Owner occupied loans also have statutory delays which must be followed to ensure that the borrower has thought the loan through.

Q: My house is in foreclosure, can you help me get it out of foreclosure?
A: Yes, we can help a lot of the time! We will need to see that the factors that created the foreclosure situation are reasonably over or soon to be over for you.

Q: Can you lend money against gold?
A: Yes

Q: What documents do I need for a Hard Money Loan?
A: Here are the requirements for a Hard Money Loan!

Q: If I can't show proof of income can I still get a loan?
A: Maybe, call us at (800) 746-1175 to discuss.

Q: What is the best way to apply for a Loan?
A: Apply online for a Hard Money Loan or call (800) 746-1175 to get started today!

Q: If I don't live close to your office can I still get the loan?
A: Yes!