Most hard money loans are used for projects lasting from a few months to a few years. Hard money is similar to a bridge loan, which usually has similar criteria for lending as well as cost to the borrowers. The primary difference is that a bridge loan often refers to a commercial property or investment property that may be in transition and does not yet qualify for traditional financing, whereas hard money often refers to not only an asset-based loan with a high interest rate, but possibly a distressed financial situation, such as arrears on the existing mortgage, or where bankruptcy and foreclosure proceedings are occurring. The loan amount the hard money lender can lend is determined by the ratio of loan amount divided by the value of property.
Would this be something you are interested to apply for? Learn more about Hard Money Financing when you talk to our experts.
Commercial Hard Money Programs:
Zyntex Group originates private money loans on most commercial property types including:
- Apartments
- Office
- Industrial
- Mixed-use
- Retail Strip and Shopping Centers
- Hospitality
- Churches and Religious Institutions
- Automotive and Gas Stations
Guideline Summary:
- Loan amounts up to $30,000,000
- Up to 65% Loan to Value (LTV)
- 1st and 2nd mortgages
- NO upfront lender fees
- Purchase, Refinance or Cash Out
- Terms from 1 to 5 years
- Same day underwriting
- NO formal income or asset verification
- Common sense underwriting
- Foreign Nationals OK
Unlike many private money commercial lenders, we charge NO upfront lender fees to underwrite and approve your loan request. For more information please call 951-241-0961.