Hard Money Loans From Private Lenders New Jersey and New York

Hard Money Lenders New Jersey offers a new and innovative way to invest in real estate in the states in New York NY and New Jersey NJ in which we offer our investors a way to be participant in the growth of the commercial and real estate market. Hard Money Loans offer a high return on investment with a controlled risk.

A hard money loan is secured by a first lien position against a residential or commercial real estate property. the collateral you get as an investor, can range from commercial properties to apartment buildings to multi-family houses.

In return, the investor receives regular monthly interest payments throughout the term of the loan and repayment of principal upon maturity and we make sure the risks are minimal.

Our Services:
These are available to all types of investors and multiple owners of an LLC
Our Private Loans are available from $75,000 and up to $1,500,000, and we have very flexible terms. We guarantee a quick closing, within days of the appraisal and we have received the title report.

We provide proof of funds the same day you call, please submit three comparable properties.

In order to submit a file to Hard Money Lenders New Jersey you must provide the following:
1. Full Property Address
2. Disclose main aspects of your credit
3. Let us know of your experience with hard money (Rehab projects you have done in the past)
4. Photos of the outside, yard, every room in the house, furnace and meters.
5. Exit strategy.

Once we have all these together is what we call a full file and it will submit it to the group for approval, if we like the deal and decide to move forward, we will produce an L.O.I. (Letter Of Intent) with the following possible terms.

If it is your First Time Fix and Flip
25% Down Payment on the Purchase Price
3% Origination Fee
8.5% Interest Rate For The Year
$1,500 Underwriting
No up front fees. All monies are due at closing

If it is your Second Time Fix and Flip
20% Down Payment on the Purchase Price
3% Origination Fee
8.5% Interest Rate For The Year
$1,500 Underwriting
No up front fees. All monies are due at closing

If it is your Third Time Fix and Flip
15% Down Payment on the Purchase Price
3% Origination Fee
8.5% Interest Rate For The Year
$1,500 Underwriting
No up front fees. All monies are due at closing

If it is your Fourth Time Fix and Flip
10% Down Payment on the Purchase Price
3% Origination Fee
8.5% Interest Rate For The Year
$1,500 Underwriting
No up front fees. All monies are due at closing

If you have done 4 or more in the last 2 years you will only put 10% down payment and can do multiple properties at the same time.

You as the borrower should look it over with your lawyer and if you agree with the terms, sign it and return it to us.

Closing should not take more than 2 weeks from the day we received the signed L.O.I.
Construction money will be given out in draws, these draws are made available to the borrower as the rehab progresses, best way to do so is take before and after pictures and send them to us, and we will make the money available accordingly.
As Private Lenders, we will make decisions on a case by case basis but these are pretty much it.

Our Stated Income Loans are financing programs that allow for self employment funds to be utilized in the transaction. Better or cheaper than hard money loans in terms of rates starting at 6.99% and low points.

There are many scenarios where this may be suitable for commercial real estate investors over a bridge loan or a hard money loan.

Stated Income Loans mandate a fewer number of written documents than other real estate loans. Stated income commercial loans are great for acquiring or re-financing commercial real estate.

These no documentation or self employment loans are for investors that are not eligible for a traditional commercial loan. These are contrary to banking institutions where underwriters must necessitate many documents that have rigorous lending guidelines.

If you have been refused by a standard loan company or similar lender, you may still be eligible for Stated Income Commercial Loans. FICO scores of a medium 680 or more are the requirements for Stated Income Commercial Loans can be shorter term but are generally for buy and hold commercial properties.

The median credit score allows protection for us along with the collateral. Commercial properties for this are in 2 classes, class 1 multifamily (5 units or more) class 2 includes office space, retail and some industrial properties.

Commercial real estate stated income loans provide viable commercial funding for consumers necessitating a self salaried or stated income option.

If you are financing or refinancing of commercial property Stated Income Commercial Loans will not involve business tax statements. The “no documentation” feature of the financing product means less traditional involvement in the funding.

There are numerous scenarios where investors fall into this category. Say you have a business of your own with good cash flow, but little bank credit.

A Stated Income Commercial Loans from Commercial Lenders New Jersey allows for variable commercial real estate lending, that way your business can grow and you can fins success faster with us.