Hard Money

Hard Money loans are non traditional loans. They are often used for commercial transactions but not always. Hard Money loans are short term loans. They are normally used when a person cannot qualify for conventional financing terms. They are meant for someone to obtain a piece of property and then in a year or two refinance out of that loan. Hard money terms normally come with higher interest rates and prepayment penalties and points up front.

Although not as commonly used a Hard Money loan can be used for residential homes. We have helped clients in cities in Portland OR, Tualatin OR, Lake Oswego OR, to help a client obtain a property. A Hard Money Home Loan is used for various reasons. Some with below average or bad credit, high debt to income ratios, self-employed borrowers who have written off income, people with new jobs who do not meet income requirements, and many more reasons. A high down payments of at least 20% down payment is needed and in most cases even more.

These type of loan are meant to bridge a gap. It is used to obtain the property and then rehabilitate the borrowers situation so they may refinance into a better loan.

If you have a situation that needs to be looked at call for a free consultation.