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Commercial Hard Money
Lender
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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