Equity lending (commonly referred to as “hard money lending”) is solely based on equity on investment or commercial real estate.  Credit is not an issue.  Proving income is not an issue.  However, the ability to repay the loan must be shown. The borrower needs to own a non-owner occupied property to use this product. This product is for investors that buy properties that need repairs…we will lend money to purchase and rehab it.

These are short term loans from 6 months to 3 years in duration.

• Close in 10 days

• Rates as low as 10% with only 2 points

• One page application

• LTV 50 to 70%

Example: Small investor owns several multi families. He had a full time job and all the tenants paid the rent on time, his wife worked also. The economy hit the skids a few years ago.  He was laid off, then his wife was laid off as well.  They have two kids in college and two in private school. Their credit starts to suffer and they can’t refinance to take some cash out to pay for schooling and increased medical insurance.  Also, they now had delinquent tenants. However two of the properties they own have no mortgage on them. They have a combined value of $400,000.  We could lend them up to $200,000 to fix up the properties to get them rented and to give them money for schooling. This extra money will allow them to start new jobs at salaries less than what they were making and raise the rents because the rental units will be renovated. In a year or so they can refinance and get a better rate.