Hard money lenders can often fund deals quickly, and they can fund deals that traditional lenders would never approve. But, there’s a catch. It’s extremely expensive! Most hard money lenders charge 16-18% interest and thousands in up-front fees. By the time you factor in the loan costs, there isn’t any profit left in the deal for you.
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Commercial Hard Money Lender Serving the East Coast (NJ, NYC, CT, PA, MD, MA, NH, VT and RI) At Northeast Lending Services I specialize in providing a variety of loans: Commercial Hard Money, Commercial, Intermediary, Mezzanine, Bridge, Construction and Short Term where my underlining business philosophy for each one is:
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. banking loans (sometimes referred to as hard money” loans) to real estate investors to fund their acquisition, renovation, rehabilitation or improvement of properties located in the New York.
Private Hard Money Lenders In New York. We began our business in the New York metropolitan area and have been lending in downstate NY since 2010. Each of NYC’s boroughs offers its own specific opportunities and challenges as does the suburban communities of Long Island, Westchester and Rockland Counties. New Yorkers are tough, and they are.
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Hard Money Loan Contract Being a lender is far safer and simpler if there is adequate equity (70% LTV or less is typical with a max of 80% in some cases – you don’t specify the type of property or the amount of risk). It keeps him out of the line of fire if the LLC is sued, members screw up, member fights, etc.
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Hard Money Lender Contract One of the pros of private money loans is the speed of purchase. Lenders can underwrite and fund a loan in 7 to 21 days. The most common thing private lenders look at when determining whether or not to approve your loan is the exit strategy you plan to pursue.
Rated #1 Hard Money Lender in NYC. manhattan bridge capital offers short-term, secured, non-banking or "hard money" loans to real estate investors in Brooklyn, Queens, Bronx, Manhattan and Staten Island as well as Long Island and Westchester county to fund their acquisition of properties located in the New York Metropolitan area.