Hard Money loan requirements are less stringent than conventional or bank financing, requiring only two basic qualifications:

#1. Decent existing real estate equity, or at least a 25% down payment for a purchase

#2. An ability to repay the loan 

You could borrow up to 70-75% of the value of the property, or if in Sonoma County, you could borrow up to 80%. Hard money loans are based largely on the equity existing in the real estate asset.

Basically considered an all cash offer, such loans have a strong competitive edge.  They can be used to purchase or refinance fixer properties, help out bad credit score or irregular income borrowers, enable large cash-out borrowers, and meet the demands of borrowers needing fast cash and short term Bridge loans.

Often owners are looking to refinance their homes to make improvements, buy a 2nd home or an investment property.  For buyers with tarnished profiles, Hard Money presents a viable option especially if they have been turned down by banks or local lenders.

Many people have credit cards with rates that range from 15% to 32%.  Hard Money rates are averaging 9% to12% and offer a tax deduction as well.  It will likely cost a bit more than a 30 year fixed rate loan but it can get you the money you need if you have been turned down elsewhere.

We invite you to call us at 707-523-2099 and see how Hard Money will work for your situation. We have worked with many types of loan scenarios since 1988. We are quite experienced, honest, fast and our rates are pretty good, too!

Best, Forest – The Guy in the White Hat

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