Hard Money Lenders Offer Short Term Hard Money Bridge Loans
This BLOG On Hard Money Lenders Was UPDATED On June 21, 2017
Hard Money Lenders offer short term bridge hard money loans. Many hard money lenders have 24 hour turnaround time on processing and underwriting.
- Private Money Loans , also referred to as hard money loans, are short term bridge financing that is an alternative form of financing for real estate investors, real estate developers, rehabbers, or consumers needing financing.
- Reason real estate investors go to hard money lenders is due to the property not being bankable or due to the borrower having poor credit or no income verification.
- Hard money lenders normally lend on asset based financing where they base their lending decisions on the amount of equity in the property than relying on the credit profile of the mortgage loan borrowers.
- Capital Network Group INC. is the premier Private Money and Hard Money Lender in the United States and is an aggressive direct lender of private money loans and hard money loans.
Capital Network Group Inc. lends on all different property types.
- From single family homes, to condominiums, to multi unit family properties, apartment buildings, strip malls, shopping centers, medical office buildings, apartment complexes, and industrial real estate.
- One great benefit with Capital Network Group Inc. is that they are direct lenders so they do not have to broker deals to third party investors on most of our commercial loans.
- Capital Network Group Inc. also has the ability to broker commercial loans as well.
Capital Network Group’s sister company, CNG Investments is an investment company that raises capital from consumers, investors, money managers, and hedge funds.
- The mission of CNG Investments is to serve investors of private money loans with the most conservative collateral and the best possible borrowers for hard money loans.
- Our investors at CNG Investments are long term investors who enjoy their annual 10% to 12% returns with not a single foreclosure on our books.
- Both companies, Capital Network Group and CNG Investments is headed by Darren Herringshaw, President and Chief Operating Officer.
- Darren Herringshaw is a licensed residential and commercial mortgage banker and broker with over 20 years of residential and commercial lending experience.
Capital Network Group Business Model
Capital Network Group Inc. is the only private money lender in the country that is both a hard money lender and end lender.
- If a hard money borrower purchases a property due to having bad credit, Capital Network Group will help re-establish the private money borrower’s credit so they can qualify for an end loan.
- By the time the rehab is done and the commercial property is stabilized, the private money loan borrower will have good enough credit where Capital Network Group Inc. can refinance them into an end loan at a lower interest rates and the best terms available in the market for the borrower.
Qualifications for Hard Money Loans
Hard Money Lenders are a little different than traditional mortgage lenders.
- Hard Money Lenders are asset based lenders where their main concern is the loan to value of the subject property than the borrower’s credit scores, debt to income ratios, or prior bad credit.
- Most hard money lenders require a 65% loan to value.
- Capital Network Group Inc. generally requires 65% loan to value, however, a higher loan to value is doable as long as the hard money borrower can cross collateralize other properties or the borrower is a strong borrower.
Real estate investors in need of hard money loans may contact President Darren Herringshaw of Capital Network Group directly at firstname.lastname@example.org. Capital Network Group Inc. can do business in all 50 states.