Each deal is carefully and individually evaluated; loan approval is based on the following:
The address and physical structure
Your financial commitment (how much cash the borrower is putting in the game)
Current “as-is” value (current equity value)
Borrower’s credit and income — we accept all levels of income and credit, but we analyze to prevent clients from over-extending themselves. Rarely is credit/income a reason for us to deny a loan request.
Previous history with the Hardmoney Company
Interest Rates 9-15%
Points 1-5
Term 1-2 years
Other Fees No up-front fees
Good faith deposits are required only after a loan commitment
Appraisal services: VA-MD-DC single residential units are $300-$400. Similar Florida appraisals range from $500-$800. Commercial property appraisals are determined individually
Legal Fee: $800- $1,800 (larger or multi-unit loans will be quoted separately)
