Hard money loan. Doesn’t it sound a bit awful? In fact, it’s the only loan you can trust. Hard money loan programs are designed to meet individual needs, despite what type of investor loan one is seeking.
Seemingly, it’s a temporary loan primarily used for real estate transactions that maintain a popular myth known as “quite hard to get.” However, this is the most easy-peasy loan and not like traditional real estate loans, which measure the borrower’s personal ability to return the loan. Typically, hard money lending loans are based on a “hard” asset or the value of the property, so barely any hard money lender asks for documentation of income or any of the technical paperwork when you are amidst of funding a fix and flip investment.
What’s more interesting is you face no trouble in acquiring this loan even if you secure a bad credit history. And much to your surprise, we are the most trustworthy Florida hard money lenders who at Atoz Capital lending endorse a variety of loan options. We offer loans such as:
- Investment property hard money loans
- Owner-occupied residential
- No documentation (no doc loan) loans (for investment properties only)
- Foreign national loans
- Private loans in Florida
- Fix and flip
- Rehab loans
- Commercial loans
- Bridge loan lending
- Equity cash-out refinance loans
More GOOD NEWS! Real estate investor’s who are facing an immense breakdown due to the strict underwriting criteria in place with conventional financing; we’ve got the doable solution for them! Here’s how Capital Funding Financial in South Florida offers premium non-conventional programs that accompany low rates and faster underwriting versus using a conventional bank. This policy works by only basing the decision off the asset value
We have sorted out these five hard money programs available in South Florida that improves every borrower’s circumstance.
1. Traditional Hard Money/No Docs Program
“ 9 – 10% Rate with 2 Point
- 1-3 Year Term Interest Only w/ Balloon
- Non Owner Occupied/Business Use/Investment/Commercial Properties
- Up to 75% LTV off Purchase Price or Appraisal (if Refi)
- 3-6 Month Prepay
- Quick 7 day closing – No Docs, No Bank Statements, No Income Verification
- Lender’s Title Policy & Appraisal Required”
2. Bank Statement (Personal or Business) Program
“No Tax Returns/Transcripts Required
- Bank Statement Deposits Used To Qualify
- 24 Months Bank Statements (Personal Or Business)
- Up To $2 MM
- Credit Scores Down To 620
- Rates Starting In The Low 5’s
- Personal To 90% LTV (No MI), Business To 80% LTV
- DTI Above 35/43 Considered With 660+ Credit Score
- Owner-Occupied, 2nd Homes, Investment Properties
- 2 Years Seasoning Foreclosure, Short Sale, BK, DIL
- Non-Warrantable Condos Considered
- 5/1 ARM Or 30-Year Fixed
- Gift Funds Allowed
- No Pre-Payment Penalty For Owner-Occupied And 2nd Homes
- SFRs, Townhomes, Condos, 2-4 Units”
3. Investor Cash Flow Program
“No Personal Income Used To Qualify
- Qualification Based On Property Cash Flow
- 2 Years Seasoning Foreclosure, Short Sale, BK, DIL
- Credit Scores Down To 650
- Rates Starting In The Low 6’s
- Up To 75% LTV (Up To 80% NOO On Other Programs)
- No DTI Restrictions
- 5/1 ARM Or 30-Year Fixed
- Must-Have Housing History And Own A Primary Home
- SFRs, Town Homes, Condos, 2-4 Units
- No Limit On Number Of Properties Financed
- Up To $1 MM (Minimum $75K)”
4. Non-Prime Program
“1 Day Out Of Foreclosure, Short Sale, BK, DIL
- Rates Starting In The 5’s
- Up To $1 MM (Over $1M Case By Case)
- Credit Scores Down To 500
- Up To 85% LTV With No MI
- 100% Gift Funds Allowed
- DTI Up To 50% Considered
- Owner-Occupied, 2nd Homes, Investment Properties
- 5/1 ARM Or 30-Year Fixed
- No Pre-Payment For Owner-Occupied And 2nd Homes
- SFRs, Townhomes, Condos, 2-4 Units
- Seller Concessions To 6% (2% For Investment)
- Non-Warrantable Condos Considered
- Up To 100% Investor Concentration Allowed”
5. Portfolio Program
“Rates Starting In The 4’s
- Up To 90% LTV With No MI
- 2 Years Seasoning Foreclosure, Short Sale, BK, DIL
- Up To $2 MM (Minimum $75k)
- Credit Scores Down To 620
- Cash Out For Reserves OK
- Gift Funds Allowed
- DTI Up To 50% Considered
- Owner-Occupied, 2nd Homes, Investment Properties
- Interest Only Program Available
- 5/1 ARM Or 30-Year Fixed
- No Pre-Payment Penalty For Owner-Occupied And 2nd Homes
- SFRs, Townhomes, Condos, 2-4 Units
- Seller Concessions To 6% (2% For Investment)
- Non-Warrantable Condos Considered
- Up To 100% Investor Concentration Allowed”
Ideally, we can fund your investment so it should not be a problem for you to making us your first hard money lender in South Florida!
