Cathleen Thomas
Attention Real Estate Business Partners~Hard Money Loans for Commercial Projects, NO Residential
All loans will be considered, and are based on exit strategy, value, and ability to demonstrate repayment of the loan. Though everything is on a case-by-case basis per today’s marketplace, hard money loans do have lower loan-to-value (LTV) ratios than traditional loans because the property itself is u
sed as the only protection against default by the borrower.
The loan-to-value for hard money is typically 50%-65%, and less for raw land. Hard money loans carry interest rates even higher than traditional subprime loans.
Interest rates for hard money loans are 10% - 13%. These loans are Interest-Only and Non-Recourse with no Pre-Payment Penalty or Exit Fee.
There is up to a 3-year term available on all hard money loans. Generally, these loans can close in 30-45 days, or less.
If you have a property or project that requires a fast closing, please contact me~804-334-2671
