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HARD MONEY LOAN

OVERVIEW

  • Hard Money Loans loans are short term loans that can be funded very fast – within a 3 days
  • Ideal for Fix and Flip opportunities
  • Great way to Fix and Refinance
  • Acquire and stabilize a property before refinancing with a Rental Loan
  • Perfect solution if a bank will not finance your property because of credit issues

RATES

  • Starting at 5% for interest-only loans
  • Amortization option available
  • 1.5 – 2% origination fee

LOAN TERMS

  • 1 year term standard
  • Multi - year term available
  • 6 month extensions available
  • Up to 85% of purchase price
  • Typically, 100% of rehab
  • First Lien Only
  • New appraisal to be ordered by The Mutual Finance Company
  • Can accept existing appraisal on a case-by-case basis
  • Insurance policy (TMFC should be loss payee and additional insured)
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Nationwide