Hard Money Lenders
Hard Money Lenders
What Am I Going To Need In Order To Get A Hard Money Loan?
In order to qualify for a Hard Money loan, you must first have a down payment of at least 25% to 40% for a buy or significant equity in the property for a cash-out refinance.
The greater your down payment or value in your home, the more likely it is that you will be accepted. We’ll also take a peek at your credit report and cash on hand. We consider this when determining your ability to make payments on schedule and cover additional expenses like taxes, insurance, etc. We’ll examine the borrower’s real estate expertise last but not least.
One of the best private hard money lenders in the nation is Onkoure Financial Services. offering short-term mortgage solutions to buy fix-and-flip, rental properties, rehab, or refinance commercial properties across the United States, with a focus on assisting experienced and novice real estate investors.
Just contact us with the answers to these questions and we will give you a quick estimate:
- Property address?
- Property type?
- If purchase, what is the purchase price and down payment available?
- If refinance, what is the estimated value? And what is the amount owed?
- Closing under entity (LLC or Inc) or personal name?
- Amount of liquid assets available?
- How many investment properties have been owned by the borrower in the last 36 months?
- What is the estimated credit score?
- Is the property generating income?
- Rate and term expectations?
How Does Hard Money Lending Operate?
Hard money lenders evaluate the investor’s credit score, but it is not a primary factor in determining his or her eligibility for a loan. Instead, a hard money loan functions as an asset-based loan. Lenders instead demand that you use real estate as security.
To determine the risk of the debt and the debt to Value, they use the price of the property. (LTV). Conversely, real estate investors, developers, and flippers use hard money to collect the funds necessary to complete time-sensitive deals where they can purchase a property for a low price, fix it up, increase its worth, and then sell or rent it for a profit.
Real estate investors typically apply for a hard money loan because, if they meet all the requirements, private lenders can finance the transaction in a week or less.
HMLs are excellent for quick flips and rehabs, or for first-time acquisitions, but they are not the best choice for longer-term investments.
Similar to bridge loans, hard money loans function similarly. Both of them use comparable lending standards. Bridge loans are only used to purchase real estate or investment properties when conventional lending programs are not an option. When the buyer hasn’t yet sold their existing home, a bridge loan can also be used as a down payment for a new house.
Properties That Qualify for Onkoure Financial Services
Single Family
1-4 unit non-owner occupied
Multi Family
5+ Units
Mixed Use
Retail
Office
Apartment Buildings
Warehouses
And industrial properties
Churches
No primary residences
A Hard Money Lender That Will Work For You Is Onkoure Financial Services
Private mortgage lender Onkoure Financial Services specializes in hard money loans for repairing and reselling homes. For commercial real estate and rental homes, we offer affordable non-bank lending alternatives.
We facilitate smooth commercial real estate deals. For self-employed borrowers who are considering buying a building, obtaining working capital from the equity in a property, or refinancing their current business mortgage, our extensive lineup of commercial real estate loans provides solutions.
With private loans ranging from $100,000 to $50,000,000 on all kinds of real estate assets, we provide credit in all 50 states. We always encourage new investors; contact us to find out how to finance a house flip.
If you have a credit score of 550 or higher, 20% to 40% down payment availability, and are interested in purchasing a vehicle, get in touch with us right away.
Our financing procedure moves quickly. In as little as two to four weeks, we can close and finance deals.
We have a number of options for you if you’re interested in residential real estate investment properties, whether it be flipping and fixing up houses, purchasing and renting properties, or cashing out on a non-owner-occupied property.
Our closings happen quickly, and our permits are simple to obtain. We only require a few documents in order to acquire a letter of intent (LOI) or term sheet; call us right away for more details.
We swiftly approve with minimal paperwork.
- Comparable prices
- Simple procedure All 50 States
- Modular insurance
- Refinances for purchases or cash-out
- Numerous kinds of real estate for foreign nationals Issues with qualifying taxes are acceptable
- swift conclusion
For commercial real estate and rental homes, we offer affordable non-bank lending alternatives.
- $100,000 – $50,000,000 in loans
- 12-month to 30-year range
- Up to 75% LTV
- Amortization: 30 years maximum
- Interest rate: 7% initially
- Foreign citizens are eligible.
- Low credit scores and tax problems are not a concern.
- Payments: Monthly interest-only payments or completely amortized terms
- Time to close: 2 to 4 Weeks
- Rehab Costs: 100% Increase
- Position of lien: only first
- States All 50 U.S. States are accessible.
Close More Deals by Collaborating with Onkoure Financial Services
Broker of Commercial Mortgages
By facilitating your customers’ access to our direct private funding, you can increase your commission. Working with one of the top hard money lenders in the country ensures the safety of your customers.
Real estate brokers
We answer yes to bank rejections! Make it easier for your customers to complete their real estate investments.
Partner Affiliates
Offering non-owner occupied and commercial real estate loans will improve your monthly income when you refer deals to Onkoure Financial Services.
Join Us As A Partner Today!
– FAQs for Brokers on Hard Money Loans?
Q. How are traders compensated?
A. A percentage of the overall loan amount that is funded on a loan that a broker recommended to us is how much the broker is paid.