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Commercial
Hard Money Lending
At times there are situations where commercial property
and/or the borrower may not fit into the normal underwriting guidelines of
conventional commercial guidelines. The usual sources for financing such as banks,
life insurance companies, and conduits will not approve such a loan that
does not fit their strict guidelines.
Fortunately there are other sources of
financing for these situations, it is Hard Money or Alternative
Lending. This refers to loans collateralized by real estate, with the primary
underwriting decision based primarily upon the equity in the property. The
borrower's credit history is also considered but to a lesser extent.
Typically the loan-to-value offered with these types of loans do not
exceed 65% and interest rates vary from 10 to 14%. Closings can occur
within a matter of a couple of weeks instead of months.
As a mortgage broker we have numerous
Alternative Lending sources that are able to offer many different loan programs tailored
to fit your needs.
We invite you to complete our
Purchase Inquiry or
Refinance Inquiry with your situation
or contact us
to see how we
may help with your Alternative Financing needs.
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