The questions to ask a Hard Money Lender

  1. How much can I borrow?
  • What LTV do they offer?
  • Do they offer up to 100% financing?
  • Is there a minimum down payment?
  1. How much do they charge?
  • Fees
  • Term
  • Extension fees
  • Minimum interest
  • Prepayment

     3.How do you qualify for a loan?

  • Exit strategy: are you flipping or holding?
  • Credit
  • Cash reserves
  • Income
  • Experience
  1. How do draws work?
  • How long do they take?
  • Is there a fee?
  • Any additional hold back?
  1. Are they a direct lender?
  • Do they fund, services and makes all lending decisions on their hard money loans?
  1. Credibility/Tenure
  • How long have they been in business?
  • Do they offer references?
  • Do they have reviews?
  1. Where do they get their money?
  • Lines of credit
  • Private money
  • Hedge Fund
  1. What other types of loans do they offer?
  • Conventional loans
  • Portfolio loans
  • Commercial loans

                                               A BAD Deal is No Deal 

Sean Riley 

Branch Manager 

RMLO #  224639