Hard Money Loans
Are you looking for a Hard Money Loan in Florida?
Quick Close Loans primary commitment is to process and close our customers business commercial loans FAST. Some say we close our loans at Warp speed, (1-4 weeks).
We also have the most affordable closing cost due to the fact most of our lending is based on low-doc and no-doc requirements. Therefore, the borrower is not paying for the multitude of Bank required documents. The borrower will have a much lower closing cost.
We will match and or beat any Banks written loan closing cost estimate.
What is a Hard Money Loan?
Usually, the credit score of the borrower is not important, as the loan is secured by the value of the collateral property. Typically, the maximum loan to value ratio is 65-75%. That is, if the property is worth $100,000, the lender would advance $65,000-75,000 against it. This low LTV gives security for the loan and allows for low credit scores and gives Borrower many other easier terms.
Many Hard Money Loans are made by Private Investors. Often, they can wave off unnecessary requirements.
Hard Money Loans – Programs
*NO SEASONING OF PROPERTY OWNERSHIP REQUIRED – CASH OUT AT CLOSING OK
* All Property Types – OK
* Rehab All Conditions – OK
* No Doc – Stated Income – OK
** Easy make sense underwriting
Loan Amount: $150,000. – $7,000,000.
1 – 5 Year Term
Rates: 6.50% – 12.50% (depending on loan scenario)
Points: 2% – 4%
No pre-payment on some loan programs, based on rate & terms
No upfront fee charges