Hard Money Loans California lending & Investments

HARD MONEY LOANS

Hard money commercial financing is much different than traditional conforming commercial financing. Hard money commercial loans are usually sought because a local bank or traditional financing is not going to do the loan for a variety of reasons. At CL&I we will look at some of the more common reasons we see people seeking hard money commercial financing, how it can benefit you if you fall into one of those situations, and most importantly, how to use hard money commercial financing to make you more money! Many people have been burned due to bad brokers or bad commercial hard money lenders and we are here to make sure that you don't have the same experience. Due to the high risks associated with hard money commercial loans the costs and fee's are also higher. It's very important to make sure that you are only paying for fair prices and fees. Just because you’re using hard money doesn't have to mean you need to be taken advantage of.

WHY DO PEOPLE USE COMMERCIAL HARD MONEY LOANS?

• LOW FICO SCORES
• NO PROOF OF INCOME TAX RETURNS
• SPECIALTY PROPERTY TYPES THAT BANKS WON'T FINANCE
• NOT ENOUGH FUNDS AVAILABLE TO GET TRADITIONAL FINANCING
• NON - PERFORMING PROPERTY TYPE WITH LOW OR NO DEBT SERVICE COVERAGE
• PRINCIPLE INEXPERIENCED IN FIELD THEY ARE MAKING PURCHASE IN
• NEED FLEXIBLE FINANCING ALTERNATIVES THAT BANKS WON'T ALLOW
• WANT TO UTILIZE EQUITY IN PROPERTY INSTEAD OF PERSONAL STRENGTHS OF PRINCIPLE
• WANT TO CLOSE TRANSACTION FAR MORE QUICKLY THAN A BANK WOULD ALLOW FOR

As you can see we offer a wide array of financing to virtually any property type including raw land. We work with a large network of hard money commercial lenders that cover a huge array of projects, property types, and situations that they specialize in. Through us you will have access to a lender that will want to fund your project no matter what the situation is. We are pleased to be able to offer our services in acquiring the hard money commercial financing you need while also ensuring that you are getting the lowest possible rates and fees in the market today.

Not all hard money commercial lenders are created equally. There is a huge problem with the commercial hard money lending niche today where the lenders or brokers are asking for large due diligence fees and then not funding the loan and not rebating the funds back to the client. We only work with upfront and honest commercial hard money lenders. The only fee our client's are required to pay upfront is the cost of their appraisal. Often lenders require an MAI appraisal in order to ensure they are getting the best possible value for the property. Hard Money Commercial Loans are based on the equity in the project more than anything else so the appraisal is of prime concern. It is virtually always customary for the borrower to pay for their own appraisal. Appraisal fees vary greatly depending on the property type and complexity required of the appraisal.

BENEFITS OF HARD MONEY COMMERCIAL LOANS

• LOANS FROM $500K-NO UPPER LIMIT
• EXTREMELY FAST CLOSINGS. SOMETIMES IN DAYS.
• LESS DOCUMENTATION REQUIRED. NORMALLY STATED BUT OCCASIONALLY NO DOC
• 3, 5, 7, 15 YEAR TERMS
• INTEREST RESERVES CAN BE FINANCED
• CREDIT SCORE NOT AN ISSUE
• INABILITY TO VERIFY INCOME NOT AN ISSUE

Hard Money commercial loans don't have to be complicated. We are well versed in the large hard money commercial funding arena. Our professionals are able to assist our client's in acquiring and compiling all the needed documentation for your hard money commercial project.