Hard Money Loan Property Requirements
Interested in learning more about the hard money loan property requirements? You’ve come to the right web page. As a legitimate hard money lender, we have specific hard money loan property requirements. Keep in mind, we are a direct hard money lender. We are not a brokerage service. So, we know exactly what we’re talking about in the specifics of these residential guidelines.
Hard Money Loan Property Requirements
If you’re interested in a hard money loan to flip a house or for another residential investment purpose, the following are our hard money loan property requirements.
- First mortgage lien only
- Loans up to 65% of ARV
- Loans from $20,000 to $3,000,000
- Multifamily properties up to four units
- Borrower-paid appraisal of ARV
- Mortgagee title policy required at closing
- Builder’s risk policy naming Paces Funding mortgagee as an additional loss payee at closing
- A Paces Funding selected closing attorney
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.
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