Hard Money Loans

At IGR Mortgage Services we provide Hard Money loan programs that expedite the financing process for real estate investors.  Unlike bank loans we can fast-track the underwriting process and provide funding in a few days, not weeks.  Our borrowers can rely on us to quickly fund their real estate deals and help them grow their real estate portfolios.

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Hard Money Loan Overview

A hard money loan is a short term loan used to acquire or refinance a property when a conventional loan is not practical or when a fast closing is needed. Traditionally a hard money loan is asset-based on the market value of the property. Since the loan is underwritten with more weight given to the property value, we can provide financing to borrowers who have less than perfect credit. This includes borrowers who have past mortgage lates, poor consumer credit history, short sales and foreclosures and other credit issues. The terms for hard money loans are more expensive than conventional loans, with rates between 7.49% to 11.99% and loans fees of 2% to 5%. Nevertheless, hard money loans are a great option for many borrowers who have situations that don’t check all the boxes for conventional financing.

HARD MONEY – QUICK SUMMARY:

FICO Scores – 400 +
Loan Amounts – $100K to $25M
Rates – 7.24% to 11.99%
Loan Fees 2% to 5%
Term – 12 to 24 months
Loan to Value – to 75%
Payments – Amortized or IO
Closing Time – 10 – 21 Days

BENEFITS OF HARD MONEY:

Flexible and Functional For Borrowers
Fast Track Closing 10-21 Days
Amortized or Interest Only Payments
Wide Range of Eligible Properties
No Income Documentation
Low Credit Scores Qualify
No Appraisal in Some Cases
Lend to Individual, LLC, Corp, Foreign National

Who Should Use A Hard Money Loan?

The primary reason real estate investors use hard money loans is the fast closing time. IGR Mortgage Services can provide pre-approvals within 24 to 48 hours and loan closings within two weeks in most cases. Also, investors with mortgage lates, recent bankruptcies, foreclosures and other derogatory credit can turn to hard money providing they have sufficient equity in the property being financed. A hard money loan “bridges the gap” to enable the real estate investor to improve their credit to qualify for a lower-rate refinance, or make improvements to the property  to make the property more financeable or saleable.

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Eligible Properties For Hard Money Loans

Residential 1 to 4 Units

Residential is classified as single-family and plexes up to four units including condominiums, rowhouses, townhomes and P.U.D’s. At IGR Mortgage we provide funds to investors to purchase, refinance, fix & flip, or hold and rent.

Multi-Family 5 to 100 Units

Multi-family is housing where multiple units (5+) for residential use are in one or more buildings within a community or complex. We provides funds to investors to purchase or refinance with loans amounts of $100K or more.

Mixed Use

Mixed-Use is a project that blends residential and commercial uses into one integrated complex or building. Common loan scenarios are purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take-out.

Commercial Property

We provide hard money loans on a wide range of commercial property types including retail, office space, light industrial, auto repair, self-storage, mobile homes parks, motels, small hotels, churches and others. Call 800-732-9450 for more information.

Lots and Land

IGR Mortgage provides nationwide financing for lots and land that generally fall into the following categories: Lot banking, subdividable land, fully-entitled subdivisions, all-in-one lot acquisition and construction, commercial pads, farma and Ag.

Cannabis Business R.E. Loans

If you have a licensed operation or a viable business plan with experienced management and equity, we have hard money loan options for real estate, working capital loans ans equipment financing for cannabis -related business and alternative industries.

If you have a question about a hard money loan give us a call to discuss the scenario. One ten-minute call may just be the ticket to a fast solution to meet your financing objectives!

IGR Mortgage Services has been providing investors with hard money loan options for over 30 years. We offer Fast & Affordable financing. for investors of every experience level. Call today to or send us your loan scenario to review!

Call 888-732-9480

IGR Mortgage Services

National Hard Money Loans
Stated Income & No-Doc Qualifying
Hassle-Free Loan Processing

503-504-2660/888-732-9480

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