30/10/2011
Hard Money Loan Terms
LOAN AMOUNT RANGE: $1M to $50M per project.
TIMING: Loan decisions can typically be made within 24 hours from the receipt of the required items and documentation needed by underwriting; after loan approval and depending on the attorney's time to draw up the loan agreement/contract, funding can occur within 3 to 7 days or longer.
LOAN TERM: 1 to 12 months or longer
LOAN TO VALUE: 50% or more, depending on the asset/collateral.
INTEREST RATE: from 13% to 20%; Points can range from 6 to 10, depending on the specific property, the borrowers credit and the loan amount.
Terms: The funding parameters, specific terms, timing, and costs will be based on the business analysis and overall risk assessment and strength of the project and the Principals. Since our sources are very competitive, the Principals' project will receive the rate and terms that it deserves.