Hard money loans can be a great tool for real estate investors. Hard money provides investors who are looking to supplement investment deals with a stable flow of funds. An investor with significant equity in commercial real estate and requires a quick close is a good candidate for a hard money loan. Traditional financial institutions do not offer hard money loans, so this lending option is only available through private lenders such as Private Mortgage Financing Partners (PMF Partners).
Hard money loans can also provide investors the opportunity to get into the real estate investing game. The whole purpose of these loans from a real estate point of view is to secure a property to renovate or develop and ultimately sell for a profit. PMF Partner loans range from $400,000 to $3,000,000 (in Texas they will consider loans as low as $300,000). Private Mortgage Financing Partners, LLC provides short-term private mortgage financing (hard money loans) secured by investment and commercial real estate.
These types of loans can be a faster and easier way to secure an investment purchase without the need for traditional financing or the long approval process that is required by banks and other financial institutions. Since these types of loans are asset-based, they are not contingent on the borrower’s creditworthiness. And on top of that, hard money loans are typically secured by a private mortgage and are short-term, so the approval process is much faster. Real estate investors and developers all have benefitted from this type of loan because it is a quick and easy way to secure financing.
As private mortgage lenders, PMF Partners:
|Lend up to 65% of the appraised value|
|No credit check or detailed application forms required|
|Usually, render a decision in 24 hours|
|Loans are interest-only monthly and due in one or two years.|
|Make 1st lien loans, with interest rates of 12%, with 3-4 points at closing|
|No application fee or other costs are due upfront|
So, if you are looking into a property, believe it is a good investment and that it will generate a healthy margin but are short on funds and can secure your loan with investment or commercial real estate, call PMF Partners today. Call us now, if you are considering the purchase of commercial property. Contact us with any questions, or to run any hard money type loan scenario by us. You can go to our website, click on “Request a Loan Now” and fill out the online, interactive loan application. PMF Partners is a Hard Money lender. We are experts in financing hard to finance deals (hard money, private money) through our private mortgage fund.