Simple Answers to Frequent Questions

Frequently Asked Questions

  • When are you available?

    We are available when you need us. Get in touch at your convenience by booking an appointment, filling out our contact for, or calling (301) 569-6869.

  • How quickly can one get a loan using hard money?

    One of the best things about a hard money loan is how fast it can be to get one.  On occasion, approvals will be granted in as few as 24-48 hours. Also, settlements can take place in less than a week.

    Keep in mind, however,  that the lender will have to do an appraisal of the property, order and inspect the title work, and have some other lender documents drafted.  This could take a few days to multiple weeks depending on the circumstances of your situation, but in emergency situations such as foreclosure, we may be able to speed up the process for you.

  • What are the lender fees?

    We do not have a set schedule of fees.  Hard money loans generally cost 4-5 points.  One point equals 1% of the loan amount.  Some or all of these points may have to be paid up-front, but many times we will let you build the points into the back of the loan (we will increase the loan amount to cover the points).  You will have to pay for an appraisal of the property, some document preparation fees, and perhaps some underwriting and/or application fees.  Any required fees will be disclosed to you up-front.

  • What are the terms of the loans?

    Each loan has different criteria, structures, and interest rates.  You should expect an interest rate anywhere from 13-15%, and you will most likely have to pay anywhere from 4-5 points. Sometimes we will require points to be paid up-front, however, there are times when we can roll them into the loan amount. Each loan is unique and it is irresponsible to provide exact numbers until everything is finalized. We discuss all loan terms up-front with our clients and are committed to transparency.

  • What documents do I need started?

    We ask that you have an executive summary of the project, however, no documents are required to get started. That being said, the more you have the better.

  • Is there a limit to the number of properties I can buy?

    No, there is no limit.

  • Do I have to put my own money in the deal?

    That depends.  Every deal is unique, so please get in contact with us to discuss your unique situation. 

  • What types of properties do you lend on?

    Currently we lend on residential and commercial investment properties, such as 1-4 unit properties, smaller apartment buildings, small retail shops or office buildings, small bars or restaurants where there is real estate, single family homes, and strip shopping centers.  We have relationships with other commercial lenders that handle larger projects, so feel free to contact us and we can refer you.

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