Hard Money Lender Direct

As a private lender, I can only lend on investment properties. I cannot finance your primary residence.

I always lend 100% of the construction budget under my private loan program. We specialize in funding construction projects and follow a very traditional post closing construction draw process.

I would say that a private lender is synonymous with hard money lender. Both lenders can be individuals or companies, both are generally unregulated and only make loans to investors. In the last 10-15 years, the private lending space really blew up as banks became very conservative coming out of the Great Recession/Housing crisis. Also, Wall Street figured out how to satisfy the demand for funding by investors looking to fix and flip foreclosure properties across the country. The term hard money comes with a bit of a stigma, so I prefer calling myself a private lender. The stigma is really tied to the perception that these lenders were loan sharks, or they were loan to own shops looking to foreclose on the property the minute they could. Private or Hard Money lenders can have varying risk tolerance and offer varying interest rates / points as a result. I would say that a true / "old school" hard money lender looks only at the value of the property as their source of repayment.

48 hours. Once I have the information on the required on the borrower and the property, I can issue a commitment in 2 days. Our private money loan program requires limited paperwork. We have a very common sense approach to underwriting your hard money loan.

My record is 3 days! Yes, you read that right, 3 days. I got information from the borrower over the weekend, got the loan approved/committed on Monday night and closed on Thursday. As a private lender, people come to me for speed, efficiency of my private loan program, and certainty of close (we lend our own funds). I would say our average closing time frame is 7-10 days.

I can not unfortunately. I can only do first mortgages on investment properties. However, as a private lender I can get creative. It is not uncommon for me to cross collateralize two properties into a single loan in order to provide 100% financing on a purchase. If you have a property with a lot of equity in it, I pay off the existing mortgage on that property and use the equity qualify you for 100% financing for the purchase of a second property.

A private lender can be an individual or a company that makes loans for business purposes, like a real estate investment. Private lenders cannot fund owner occupants. Interest rates on loan from private lenders are generally higher because they are loaning investor capital, not deposits like a bank. Therefore, the best way to use a private money lender is for a short-term bridge loan which is why most private lenders only offer 12 month terms.

We specialize in funding construction loans. We love fix and flips, condo conversions, and new home construction. Builders love me because they can close a construction loan with us and be closed to the weather in same time they can close a loan with bank/conventional lender. Also, we always fund 100% of the construction budget and can provide an interest reserve as well.

I am not a mortgage broker. I originate loans for EMCAP, a direct private lender who lends their own funds. Unlike a lot of lenders who say they are direct and then sell your loans to Wall Street, we are a balance sheet/portfolio lenders lending our investors capital.