FAQ
Hard Money Loan
What are the interest rates?
Rates range anywhere from 9-12%
What documents are required?
-
Application -
Appraisal -
Copy of insurance -
Scope of work (if applicable) -
Entity documents -
Copy of ID
Do you have any pre-payment penalties
No, we do not work with lenders who charge prepayment penalties.
What are the associated fees?
Most lenders we work with charge less than $1,500 in fees
Rental Property Loan
What documents are required?
-
Two forms of ID -
Application -
Copy of insurance -
Copy of leases, if occupied -
Entity documents
What is Debt Service Coverage Ratio?
The DSCR is a calculation that evaluates the financial health of the property. This is calculated by taking the income and dividing by the expenses.
Do you offer blanket loans?
Yes, we are able to refinance more than one property into the same loan.
What condition does the property need to be in?
The property needs to be rental ready.