The HardMoney Company welcomes partnering with real estate brokers for referred and brokered deals. Our brokering process makes the entire referral process easy and efficient for both parties.
Our team understands that a mutually reliable relationship leads to positive results for both parties. Good deals are presented by brokers and brokers are always paid at settlements. Current brokers have often commented on the ease of our loan process and the speed in which they are compensated.
Our Hard Money Broker Process
- You refer us a customer who is looking for a hard money loan.
- Our team will review and assess the needs of their project. We may require more information or we will need to collect any necessary documentation that is required.
- The broker will be protected and will be paid at the closing of the deal.
To learn more about brokering deals with our team, feel free to reference the snapshot summary below, or contact us.
Hard Money Brokers Program Summary
- Remember brokers are always protected and paid at closings.
- We always welcome brokers’ participation.
- The HardMoney Company is self-funded, thus we can be very creative in making your deal happen!
- Loan Types: Rehabs, second trusts... almost anything that makes sense except EPA challenged proposals
- Loan Amounts: $50K to 5mm
- Loan Territory: The VA/DC/MD metro area & Florida remain our major markets. However, we do make loans throughout the country.
- Credit Requirements: Credit and income are examined but not a primary consideration.
- Interest Rates: 9-15%
- Points: 1-5 points
- Broker’s Compensation: 20-50% of points charged
- Paperwork Required: We dislike paperwork as much as you; different states require different levels of documentation.
- Borrower Experience Required? No
- Bankruptcy Issues: Usually not a problem
- LTV: Typically based on AS-IS value
- ARV: Not usually a consideration
- Can a client have multiple loans with us? Yes, depending on the strength of the client.
- Pre-approval letters: We are happy to provide after a completed application is submitted.
Hard Money Broker Program FAQs
Below are the most frequently asked questions about our hard money broker program. Please contact us if you any other questions that you would like to be answered.
What Is A Hard Money Broker?
A hard money broker is responsible for connecting borrowers with hard money lenders. Brokers act as a middleman to help facilitate the deal and help to protect hard money borrowers while they borrow capital for their next private real estate investment project. Hard money brokers will in return be paid a percentage of the points charged to the borrower's loan.
Where Is Our Hard Money Broker Program Operated From?
The HardMoney Company brokers program operates primarily out of Virginia, DC, Maryland, and Florida. However, our team is capable and willing to facilitate deals all across the nation of the deal is a good fit for both parties.
What Is The Hard Money Broker Compensation?
The compensation for hard money brokers will vary depending on the deal but the average compensation can range from 20%-50% of points charged to the borrower's loan deal.