Bridge (Hard) Money Loans
These loans are underwritten very quick and usually close in 14 days. They require usually an LTV of 50% or less but exceptions occur based upon circumstances. They are not second mortgages but require a first position lien. Advantages are that they may be closed even if you are in default or the property has a lien, things that normal lenders would not.
We provide funding for most construction projects and usually require the property to be owned free and clear. These loans are usually for 18-24 months based upon the project and we work closely with architects to ensure all necessary approval of plans and permits for funding.
These usually take the form of some equity participation as they require a higher risk reward underwriting criteria. Loans of this nature require experienced participants that can demonstrate prior successful projects.