What is a Hard Money Loan?


If you have tried to qualify for mortgage loan by a bank , or credit union and have been turned down due to credit or income requirements what do you do? You can try a hard or private money loan. A hard money loan is a loan that a private investor will lend money, put a first trust mortgage deed on your home, condo, land, vacation property, commercial building and land using only your property. The Hard money lender or investor will not use credit but the homeowner will borrow the money only using the Equity in their home. Hard Money Lenders and Investors or helping many Florida borrowers who have plenty of equity but no credit , bad credit, employment gaps, show no income because they or self-employed. In all of these cases the hard money and private money underwriters will use the income you have available to get you qualified and the equity in your home based on a appraisal. Hard money loans or helping and giving many borrowers another alternative refinancing route. Borrower can leverage the equity in their Florida one or vacation investment property to get the cash out they need.

Advantages of A Hard Or Private Money Loan

Super fast you should be able to close in 12 to 14 days
No Credit needed only Equity in your Real Estate and land , Home and land, doublewide and land , land only
If your Self Employed and depreciate all your income
Easy underwriting guidelines comparted to a bank or credit union
Stress free and hassle free loan process
No out of pocket fees
The homeowner has personal contact with their private investors.
Get the your need for whatever purpose without having to wait 30, 60 or days banks and still get turned down by a bank
1-Hr Approvals
Many hard money programs and investors to choose from.
Many Times no appraisals or needed
Very easy and simple documentation process
No long verification process , simple, easy quick close fast but rates or higher.

Cons of Doing a Hard and Private Money Loan

Short term solution

High Cost Loan

Higher Rates than a bank or credit union

Private and Hard Money Investors will lend up to 50 to 65% and sometimes up to 70% loan to value of the equity of your home. They will go inspect your property and determine a value, then contact the homeowner the underwriting will issue and Approval based on the terms and conditions of each hard money investor. The Loan Officer will call you and email you the proposal send by the private money investor. Once you decide if the loan conditions will work for you the borrower you will then call the loan officer and order title and appraisal on the Hard Money Loan Request. This begins the hard money loan process.

Steps in the Hard Money Loan Process

Borrower Contacts the Loan Officer
Loan Officer interacts with the Hard Money Investor
Private Money Lender visits the borrow to inspect the property for pride of ownership and determine a value on the property
Once a value is determined the borrower will be issued and Approval
Once you evaluate the Approval and decide to move forward , They will order Appraisal and Title on your Property
You will provide evidence of homeowners insurance, some income documentation
Appraisal come back and the value of your home is determined verified
Once you title is determined to be free and clear you will be contacted and a closing date will be set

What do people who get a hard money loan use the Hard Money cash out refinance For?

To pay off foreclosure by and HOA Home Owners Association
To stop a Foreclosure
They have to refinance after a divorce or final judgement is issued
Your looking for debt consolidation
Home Improvement
Pay of judgements or irs liens
Use the Cash out for Investments
Get Cash out for emergency reserves in this very volatile times you should have cash reserves available on hand
If your self Employed and cant show any income
To purchase another home, condo , vacation home or rental property
As you can see theirs unlimited reasons a person may need to get cash out of their home.

How many money can I borrow against the Equity in my home.

Most private money and hard money lenders will allow 60% to 65% of the value of your home. The loan amounts or usually starting at 35,000 up to several million. Pride of ownership in your home is very important to each private money lender since they or only allowing you to borrow the money based on the equity of your home. Many borrowers realize they can use and leverage the equity in their home to capitalize on a business opportunity, purchase another home, move at lighting speed to get the cash out they and meet their deadline but with a bank they would never get the cash they need unless they waited 45 to 60 days at that time the opportunity is usually gone

A lot of borrowers use Hard Money to help stop a home form going into foreclosure, they cant get a loan anywhere else many of these borrowers have owner their home for 15, 20 or 30 years and they hit a patch of bad times and unfortunate financial times and miss several mortgage payments. We have help hundreds of borrowers save their home their greatest investment. Also we help many borrower pay off their irs leins and also use hard money for debt consolidation paying off all their high interest credit cards and car payments We have many clients who save 2.000 a month up to 5,000 a month and up to 100,000 a year. Now that is giving yourself a true pay raise.

Types of Properties they will Qualify for a Hard Money Loan

Owner Occupied Home with equity

Non Owner Occupied Home with equity

Condo or Townhome with equity

Land up to 50% loan to value on your raw land, commercial land, horse farms, nursery with land, golf course, water front property, raw land and raw land with trees, farm land, and commercial building and land, or doublewide and land.

Investment Property and Investor Blanket Loan. If you own 5, 10.20 properties we can help you do a blanket investment property land and get the cashout you need

Liquor License Loan

Boat Slip Loan and Financing

Commercial Property

Mixed use

Multi Family

Tiny Homes with land

Horse Farms

Hotels, Motels, Storage Units, Gas Stations, Apartment Complexs and Strip Centers.

As you can see just about any type of property will be considered to quality for a Florida Hard or Private money loan. Our underwriters or very flexible and use a common sense approach to underwriting your loan request. We appreciate your time and look forward to all Florida Homeowners who need a loan fast and quick and no hassles and want to close with the most easy stress free process and leveraging their home equity to the the Florida Hard Money Refinance.

Free Consultation

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What We Offer

Hard Money Network is provided by investors who offer equity loans for free and clear properties in Florida. We at AHL Hard Money Network are a lead and marketing company that connects borrowers with hard and private money investors and we provide educational resources on hard money for potential borrowers.

We do not issue approvals. We are a marketing and lead portal. You will be contacted directly by our private investors. They will call you directly to determine the value and equity in your home and to help you throughout the approval process. Each inquiry is on a case by case basis. Thank you.
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