Non-Bank & Private Money Financing
Non-Bank and Private Money Loans are often utilized when: ‘time is essential’, ‘the projects or property does not meet the criteria of conventional lenders’, ‘bad credit’, ‘bankruptcies’, ‘judgments’, ‘foreclosures’ or ‘IRS” problems.
Since we’re Commercial-Business Marketplace Brokers partnering with numerous traditional banks, non-bank and private funding sources who provide financing for both simple and tough lending transactions, we do not have specific parameters with respect to revenue, credit scores, geography, industry type, loan size, collateral or lack thereof etc.
Non-Bank & Private Money Financing from $100K to No $ Limit (Send Us Your Scenario)
Specific to 5+ residential and all commercial properties
Our Private/Hard Money Lenders often take higher risks and loan money quicker to Qualified Projects than Conventional Lenders will, at a higher rate, and shorter terms, but the project must make financial sense.
Our Network of Non-Bank and Private Hard Money Lenders specializes in hard to place short-term real estate-secured loans including, commercial, construction, bridge, land acquisition, development, raw land, and other real estate related loans.
Non-Bank & Private Money Rates, Terms & LTV/LTC:
- Terms will be relative to the risk of the project
Loan to Value Guidelines Below:
- Commercial Loans: LTV’ range from 55%-65% (special circumstances up to 75%+)
- Multi-Family Loans: LTV’ range from 55%-65% (special circumstances up to 75%+)
- Raw Land Loans: LTV’ range from 35%-50% of “As Is” Value based on recent comparables. With acquisitions, purchase price will be considered
Non-Bank & Private Money Rates Typically: 8% – 16%+ Range
Points: Range from 1 – 10 (based upon loan size, complexity and over-all risk)
Closing Costs: Paid by the Borrower(s) and/or out of the proceeds of financing
Third Party Reports i.e., appraisals, BPO’s environmental, surveys etc.: Paid by the Borrower
- Acquisitions – Seller can pay a portion of these costs ‘case by case’
- Refinances – Some costs can be paid at closing
Due Diligence & Commitment Fees
Dependent on each deal individually, we strive to keep this minimal and to include the cost of BPO (Broker Price Opinion) when applicable.
- To Apply for Real Estate Financing, we request that a completed application, along with Identification such as a Driver License and Passport.
- Upon receipt of a completed and signed application, we typically process in 5 – 72 hours.