MoneyFund

Loan Programs

-Purchase

-Refinance

-Rehab Loans

-Cash Out

-Raw Land Loans

-Rehab Loans

-Residential Loans

-Commercial Loans

-Acquisition & Development Loans

-Bridge Loans

-Construction Loans

-Mezzanine

-Home Improvement Loans

-Construction Loans

Hard Money Bridge Loans

A bridge loan is a short-term loan which bridges the Borrowers plan from one point to another. The bridge loan is useful when a Borrower only needs financing for a short time frame where a long-term fixed rate loan does not make sense. A hard money bridge loan can be used by a real estate developer, or other business entity to take advantage of commercial opportunities that don’t fit into the traditional bank standards. Our typical maximum loan-to-value allowed on subject properties is 75%. Additionally, Borrowers are required to have a minimum of 10% cash or equity invested in a project when applying for a bridge loan; this is known as “skin in the game”.

Mezzanine Loans (and how they differ from bridge loans)

A mezzanine loan can be a type of bridge loan in the sense that it is short-term and not permanent financing. However a mezzanine loan is not secured by property, it is secured by an ownership interest in the company that owns the property. This occurs when the Borrower needs more money than he is able to borrow against the property, so he puts up an interest in his company as collateral.

Construction Pay Off Loans

If a developer has a construction project that is at least 75% completed, they can obtain a hard money loan to pay off the construction lender and complete the project. A hard money loan can also be used to bridge the gap between a completed project and standard financing from a bank or traditional lender. With an End of Construction Pay Off Loan, A developer can use the collateral of the current project to raise capital for the next project.

Foreclosure Bailouts (Foreclosure Prevention)

A hard money loan can be used to prevent foreclosure on a commercial property. A pending foreclosure can be stopped, if a property can be collateralized for up to 65% of its loan to value, based on the quick sale value of the property.

Purchases (Acquisitions)

A hard money loan can be used to purchase real estate if a borrower does not meet conventional bank standards or does not have time to wait for a traditional banks typically slow lending process. Hard money allows for things that banks never allow: low or no credit scores, incomplete construction, property in need of repairs, etc. Hard money funding can be used to quickly work around these financing problems and provides the opportunity for a savvy investor to acquire new properties.

Commercial Refinances

Commercial cash out refinances allow you to extract equity from real estate you already own. It can be a quick way of generating additional working capital to be utilized as you see fit.. Once all required paperwork has been submitted to our office, your hard money loan will fund as quickly as one week.

Foreign National Commercial Mortgage Loans

This kind of hard money loan is for foreign investors who want to purchase commercial real estate in the United States. All sorts of property can be considered for hard money funding, including; commercial, industrial, residential, hospitality, rehabs, etc. Few restrictions exist for countries with notable exceptions being Borrowers from, Afghanistan, Venezuela, Iraq, etc.

Rehab Hard Money Loans

A commercial rehabber/investor can use a hard money loan for short term financing. Once a property has been renovated and sold for a profit, the funds are repaid and we can often allow the borrower to use the funds again on the next project. The average closing time for an approved loan is just two weeks!

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Approval Notice

It is important to understand that a pre-approval is subject to conditions and a final approval. It is advise that any changes in credit condition or the acquisition of new credit during the duration of the loan process should be made aware to MONEYFUND, INC. because it can change the conditions of the pre-approval issued by an underwriter. Borrower(s) should carry on all financial obligations until funding is confirmed on all mortgage refinances and/or purchases.

MONEYFUND, INC. is not responsible for any credit lates, credit disruptions, deadlines, schedules from loan anticipation or assumptions without notice. Moneyfund is required to update and verify all borrower’s information on the mortgage application at the time of loan process which may require more documentation before final approval is issued.

In addition, a pre-approval of a non-conforming program is not equivalent to a pre-approval of a government loan program. Non- conforming programs are inherently different and may require seller’s acceptance. Mortgage application fee is non-refundable after loan has been pre-qualified and loan-processing procedures has proceeded.