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Hard Money Bridge Loan Lender
Our commercial and residential bridge loans are designed as interim financing for an individual or business until permanent funding can be found. As professional bridge loan lenders, our team can help you get the short term cash flow that you need to fix your property or the capital you need to purchase another property. Our team has the experience needed to guide you through the entire bride loan process with favorable loan rates. Our team has experience with residential bridge loans as well as commercial bridge loans so you can rest assured that we can help with nearly any project that you may have. The HardMoney Company is a private hard money lender which allows us to provide our clients with custom bridge loan rates and turn-around-time that banks aren’t able to offer.
Bridge Loans At A Glance
| Topic | Answer |
|---|---|
| Types of Property: | Single Family Homes, Multi-Family Residents, Commercial, 5+ Units, Industrial, Office Park |
| Loan Values: | $150k Minimum – No Maximum Loan Amount |
| Loan Term Length: | 6 – 18 months |
| Average Interest Rate: | 8% – 15% |
| Loan-To-Value (LTV): | Up to 80% |
| Funding Time: | Can close deals as quick as 7 days |
To help assist you with cost estimates related to your fix and flip hard money loan, use our loan calculator!
Hard Money Bridge Loan Basics
A bridge loan is a specific type of loan used by residential and commercial property owners to secure the short term capital they need to work on their property until they are able to secure permanent funding. Bridge loans provide the property owner with quick cash flow so they can continue to work on their property or even to provide them with the capital they need to purchase another property. Once a commercial or residential property has been purchased, it may take time to improve the residence, place tenants, or sell the property. A Bridge Loan can provide the funds for an investor, real estate professional, or contractor to purchase, build, fix, or flip a home or building. For example, if the property is on the market to be sold and you need a temporary loan to purchase another property, the HardMoney Company will give you a Bridge Loan. If you own a property free and clear or with substantial equity, you can use this as collateral for a Bridge Loan. Take the First Step Toward Funding — See if You Pre-Qualify for Your Loan Today!
Free Loan-Application Process
Benefits of a Bridge Loan
The main benefit of bridge loans is that the financing deals are flexible to help individuals and corporations secure the intermittent capital they need for their real estate investment projects. Project expenses can pop up out of nowhere which can cause issues with your project, but a bridge loan will provide you with the cash flow you need to continue operations. Bridge loans are known for their flexibility which makes it a great option for a wide variety of different types of projects as you can work with the hard money lender to find a deal that works for your project. Our team can help you receive a bridge loan in order to have the funding you need to progress your project.
Bridge Loans vs Traditional Loans
Bridge loans are often confused with traditional loans but they provide a much different opportunity compared to traditional loans. A bridge loan is utilized when an individual or a corporation requires fast access to funding. This funding can be used to keep their project on schedule, to repair their building, or to cover cash flow issues in the short term. Bridge loans typically have higher interest rates because they are utilized over a shorter period of time, whereas traditional loans aren’t known for being specifically short term loans.
How Bridge Loans Work
Bridge loans can also be known as interim financing or gap financing, but they work by providing property owners the cash flow they need to bridge the gap when they are awaiting capital from their property but the funds aren’t available yet. Bridge loans are used by large commercial corporations as well as individual residents through a variety of different situations. Residential bridge loans are often used by homeowners who are looking to purchase a new home while their current home is still on the market. The loan gives them the capital they need to close on the new house while they wait for the original house to sell. The same process is possible for commercial bridge loans as property owners will need time and capital to repair the property before they sell it. Our team can provide you with the short term capital that you need to move forward with flipping your property.
Types of Loans We Offer
Frequently Asked Questions
- Capitalization – We have the capital to close multiple deals at the same time. Our loans range from $50,000 to $5mm.
- Streamlined processing – Loan analysis, closings, and draws are always expedited.
- Analysis – Loans are only made when the HardMoney Company concludes that your success is very achievable.
- Senior Management – Our senior management is always involved in your personal transaction and are readily available to all clients.
The property and the deal are the main determining factors. Credit is examined however, we are very understanding of past credit issues. Rarely is someone denied simply because of their credit.
From 1% to 20%. Past performance and the transaction’s strength will determine the amount of cash required from a client. Often, refinance or “cash-out deals” require -0- cash.
Yes, after a careful analysis is completed on your first mortgage and the equity on the property.
Yes, after an application is completed.
Points are fees for acquiring a loan. Each point charged is equal to 1% of the loan amount. Two points on a $150,000 loan are equal to $3000.
Recently we closed a deal 24 hours from the time we met the client at his property. Our process is extremely streamlined however we are restricted with title reports and title issues. Most deals are closed within 5-7 business days. Florida is the exception: Florida transactions typically require 3 weeks to close.
Typically, interest rates for a hard money loan at the HardMoney Company range from 9-15%.
There are no up-front fees, but good faith deposits are required only after a loan commitment.
We accept all levels of income and credit. Rarely is credit/income a reason for us to deny a loan request.
A hard money loan is a short-term, asset-based loan primarily used for real estate investments. Unlike traditional loans, approval is based more on the property's value than the borrower's creditworthiness.
Hard money loans are typically easier to obtain, have shorter terms, higher interest rates, and are based on the property's value rather than the borrower's credit history. Conventional loans involve more strict credit checks and longer approval processes.
Hard money lenders often finance various property types, including residential investment properties, commercial properties like office buildings and retail spaces, rehab projects, and fix and flip projects.
Interest rates for hard money loans generally range from 9% to 15%, with loan terms varying from 1-2 years. Rates and terms depend on factors like property type, location, and loan-to-value ratio.
Hard money loans can often be approved and funded within 5-7 business days, a few weeks if on the longer side, making them a viable option for time-sensitive real estate transactions.
Most hard money lenders offer LTV ratios up to 75% on income-producing properties and up to 50% on land, though this can vary by lender and property type.
Yes, borrowers are usually expected to invest some of their own funds into the project, with down payment requirements varying based on the lender's policies and the property's specifics.
Common upfront fees may include appraisal fees, document fees, and sometimes loan application fees. It's important to inquire about all potential fees before proceeding.
While credit is considered, hard money lenders focus more on the property's value and the borrower's equity, making these loans accessible to individuals with less-than-perfect credit.
Advantages include a simpler application process, quicker approval, less emphasis on personal financial history, and the ability to finance projects that may not qualify for traditional loans.
Due to regulations, hard money loans are typically not available for primary residences. Most hard money lenders focus on investment properties and may require borrowers to secure financing through an entity like a registered LLC.
A private lender is an individual financing a project with personal capital, while a hard money lender is an organization or company that provides financing for real estate investments as a business.
Hard money loans can be safe when obtained from reputable lenders. However, borrowers should be aware of higher interest rates and fees compared to traditional loans and ensure they can meet the loan terms to avoid potential foreclosure.
Hard money lenders focus more on the property's value and potential, with less emphasis on the borrower's credit score and financial history, compared to institutional lenders.
Researching lenders' reputations, seeking referrals from other real estate investors, and verifying licensing and credentials can help borrowers find reliable hard money lenders.
Advantages include quick approval and funding, and flexibility in terms. Dangers involve higher interest rates, shorter repayment periods, and the risk of losing the property if unable to repay.
Yes, some hard money lenders are willing to work with borrowers who have tax liens, often requiring that tax issues be resolved at closing.
Some hard money lenders can provide blanket loans on commercial properties, but typically not on residential properties.
Hard money lenders may offer various programs, including interest-only loans and amortizing loans, depending on the needs of the transaction.
Yes, common upfront fees may include appraisal fees, document fees, and sometimes loan application fees. It's important to inquire about all potential fees before proceeding.
Executive Service from the Owner
At HardMoney Company, all clients will deal directly with our business owner and partner, Gus Goldsmith. Your hard money loan needs are our top priority!
As always, our friendly and professional staff can answer any questions or comments about our loans. Interested in a hard money loan for your business?
Call today!