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Hard Money – The Short Story


What is hard money? A category of real estate loan program, usually short term, fast and used to handle whatever the problem was in the profile of the Borrower or property. The problems could be credit, income, the property itself and/or simply the need for speed.

Hard Money is not money from a bank. The funds are from individuals that lend to make way more interest than they would otherwise. We have over 450 “investors” with money to lend.

Investors are mostly interested in the equity in the property which serves as the security for the loan. Most do not care about the credit score or how the borrower makes income.
Therefore the 2 qualifications for a Hard Money loan are….

1. Equity or decent down payment.

2. Ability to repay the loan.
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Why Hard Money? – SPEED…… We did a loan for a couple who purchased right after the fires in October 2017. Their house burned down and they wanted to move quickly as they were displaced. Their credit was perfect, excellent incomes and a large down payment but did not want to wait to get a bank loan.

They also knew that an offer with a short escrow would be more attractive to a seller. Their Realtor offered a fair price and a 9-day close. This offer was chosen out of the many that were received!

Best, Forest & Ken – The Guys in the White Hats

“The Guy In The White Hat – Your Hard Money Lender”. Broker and Co-Owner of Sun Pacific Mortgage & Real Estate, family owned and operated in Sonoma County California since 1988. (CA BRE License #01000559. NMLS #289456)