Stepping into the commercial real estate world can be as thrilling as it is complex. Whether you’re eyeing retail spaces, industrial facilities, or office buildings, the right financial backing can make all the difference. That’s why we designed our Commercial Hard Money Loans to move your projects forward, fast. Let’s talk about turning your real estate aspirations into achievements.
Please, note: We are craving a tailored approach, so this program is more of an informative nature, to give you an approximate understanding of what to expect from us during making a decision to fund or not. These criteria may vary depending on your exact property and scenario.
Hard money loans are a type of financing typically used by real estate investors, house flippers, and developers who need quick access to funds. These loans are secured by the value of the property being purchased rather than the borrower’s creditworthiness. Because of their flexible terms and fast approval process, hard money loans are an attractive option for those who may not qualify for traditional financing or need to act quickly to close on an investment property.
A hard money loan is a short-term, asset-based loan primarily used for real estate investment purposes. Unlike traditional loans, which are largely based on a borrower’s credit score and financial history, hard money loans are backed by the value of the property being financed. These loans often come with higher interest rates and shorter repayment periods, usually between 12 to 36 months, making them ideal for short-term investments.
Hard money loans are typically provided by private investors or lending companies, rather than conventional banks, which allows for more flexible approval criteria and a faster process.
Asset-Based Lending: The loan is secured by the property itself, with less emphasis on your credit score or financial history.
Quick Approval and Funding: Hard money loans can often be approved and funded within days, making them ideal for time-sensitive deals.
Flexible Terms: Since these loans are offered by private lenders, terms can often be negotiated to suit the borrower’s needs, including the loan amount, repayment schedule, and interest rates.
Short-Term Financing: Hard money loans are designed for short-term use, usually with repayment periods ranging from 12 to 36 months, making them popular for property flips or quick real estate deals.
Higher Interest Rates: Interest rates on hard money loans are typically higher than traditional loans, reflecting the increased risk to the lender.
Fix and Flip Projects: Real estate investors often use hard money loans to quickly purchase and renovate properties, then sell them for a profit before repaying the loan.
Bridge Loans: A hard money loan can serve as a bridge loan when you need temporary financing to close a deal before securing permanent funding.
Property Investors with Limited Credit: Investors who may not qualify for traditional loans due to poor credit, insufficient income documentation, or other factors can still obtain financing through a hard money lender.
Auction Purchases: If you’re buying a property at auction, where fast funding is required, a hard money loan can provide quick access to cash to secure the property.
Land or Development Projects: Hard money loans can be used to purchase raw land or fund the early stages of a development project.
Property Valuation: Since the loan is based on the value of the property, the lender will conduct an appraisal or review the property’s current market value to determine the loan amount.
Loan Application: While the application process is simpler than a traditional mortgage, you’ll still need to provide basic information about the property, your plans for it, and how you intend to repay the loan.
Approval and Terms: Hard money loans are typically approved quickly, often within a few days. The lender will offer terms based on the property’s value, the loan amount, and your exit strategy for repaying the loan.
Funding: Once approved, the funds are disbursed quickly, allowing you to move forward with your investment.
Repayment: Since hard money loans have shorter terms, repayment is typically required within 12 to 36 months. You may also have the option to refinance into a longer-term loan once the property is stabilized or sold.
What is a hard money loan? A hard money loan is a short-term loan secured by the value of the property, typically used for real estate investments like flipping houses or purchasing rental properties.
How fast can I get a hard money loan? Hard money loans can be approved and funded much faster than traditional loans—often within days.
What are the interest rates for hard money loans? Interest rates are usually higher than conventional loans, typically ranging from 8% to 15%, due to the increased risk for lenders.
How much can I borrow with a hard money loan? The loan amount is based on the property’s value, and lenders usually offer up to 65% to 75% of the property’s current or after-repair value (ARV).
Can I get a hard money loan with bad credit? Yes, since hard money lenders focus on the property’s value, borrowers with poor credit can still qualify, though it may impact the terms of the loan.
How long is the repayment period? Most hard money loans have a short repayment term, typically between 12 and 36 months.
What are the risks of a hard money loan? The higher interest rates and shorter repayment terms make hard money loans riskier if you’re unable to sell or refinance the property in time.
What is a bridge loan? A bridge loan is a type of hard money loan used to cover short-term financing needs while waiting for longer-term financing or the sale of a property.
Do I need a down payment for a hard money loan? Yes, most lenders require a down payment, typically 20% to 30% of the loan amount, based on the property’s value.
What is the difference between hard money and traditional loans? Hard money loans are based on property value and have shorter terms and higher interest rates, while traditional loans focus on creditworthiness and income, offering longer repayment terms and lower rates.
At Save Financial, we have extensive experience helping real estate investors and developers access the fast, flexible financing they need through hard money loans. Our team understands the unique challenges of real estate investing, and we work quickly to get you the funds you need to close deals and move forward with your projects. Whether you’re flipping a property or need a bridge loan, Save Financial is here to help. Contact us today for a free consultation or rate quote!
Hard money loans are a flexible financing solution for real estate investors and developers, allowing you to secure quick funding for property purchases or refinances. At Save Financial, we simplify the hard money loan process to help you achieve your real estate goals. Follow these steps to get started:
Before applying for a hard money loan, assess your project’s financial requirements. Whether you’re purchasing an investment property, refinancing an existing loan, or renovating a fixer-upper, clearly define the loan amount and purpose. Save Financial’s team can help evaluate your options and guide you on the best loan structure for your needs.
To begin the hard money loan process, visit our secure online application portal at:
https://savefinancialincorporated.zipforhome.com/CompanySite/Index.
Here, you’ll provide basic information about the property, your financial situation, and the loan amount required. Hard money loans typically require less documentation than traditional loans, making the process quicker and easier.
The key to a hard money loan is the value of the property being used as collateral. After your application is submitted, Save Financial will evaluate the property you’re purchasing or refinancing. In some cases, we may also require an environmental report, especially for commercial properties, to ensure there are no major risks.
Although hard money loans are based primarily on the property’s value, we may request some additional documentation, such as:
Save Financial will guide you through the documentation process to ensure everything is completed smoothly.
If you’re applying for a purchase loan, you’ll need to provide the contact information for your real estate agent and the escrow or title company involved in the transaction. This allows us to gather the fully executed purchase contract and any relevant details needed to finalize the loan agreement.
Once all documentation and the property evaluation are complete, your loan will move into the underwriting phase. Our underwriting team will assess the loan-to-value ratio, property condition, and any risks associated with the investment. Hard money loans tend to have faster underwriting than conventional loans, so approval can be swift.
After underwriting is complete, your hard money loan will be approved, and we’ll move toward closing. During this phase, you’ll sign the loan agreement and any other required paperwork. Save Financial ensures a fast and efficient closing, helping you access funds quickly to meet your project timelines.
Once the closing is finalized, your loan will be funded, allowing you to access the capital needed for your investment. Whether you’re purchasing a new property or refinancing an existing one, the loan proceeds will be disbursed promptly so you can move forward with your plans.
Ready to secure a hard money loan for your next property purchase or refinance? Start your application today by visiting our secure portal at https://savefinancialincorporated.zipforhome.com/CompanySite/Index. Contact Save Financial for expert guidance and a fast, flexible financing solution tailored to your real estate investment needs!
At Save Financial, we specialize in a wide variety of loan options to meet your unique financial needs. Our offerings include hard money loans secured by real estate, fix and flip loans, bridge loans, construction loans, purchase loans, and refinance loans. Whether you have good or bad credit, our experienced team is dedicated to guiding you through the entire loan process. Discover how we can help you secure the perfect loan for your situation. Contact us today to learn more about our comprehensive loan solutions!