This year so far (January through July) we have closed 142 Hard Money Loans – 20+ loans per month. Loans done so far total over 45 million. These not-normal programs have much more forgiving qualifications than traditional financing.
Regularly we have Brokers and Lenders reaching out to us with a transaction they are hoping to have rescued. They want an interim approval and funding while their client gets fully qualified to refinance with them.
We had a Lender contact us about a Borrower he could not get approved for a single-family investment property. They qualified in all aspects but, unfortunately, they had another property which had incurred some late-payment penalties.
This is where we come in with our not-normal, hard money loans programs. In 2 weeks, we had this scenario approved and funded! Relieved Lender and happy Borrower.
If you are having difficulty getting a particular loan scenario approved, call us at 707-523-2099.