A hard money loan can also be called a private money loan or a bridge loan. These loans are tailored to fit the needs of people whose qualifications don't "fit in the the box". Bank loans are based on credit, but our loans are based on collateral.
Our hard money loans are used for many purposes. A few examples are construction, rehab, or cash-out loans. Many business use our money to build their companies when their cash flows are being established.
Below are our general loan terms, but if you have more questions, please email us, or call us today.
|Loan To Value||Consumer: Approximately 65%
Commercial: Approximately 65%
Land: Up to 50%
We require all borrowers to have “skin in the game”
|Loan Amounts||$40,000 - $3,500,000 (consumer loan minimum is $100,000)|
|Term||3 - 24 months|
|Points||2 - 5 points depending on length and LTV|
|Types of Collateral||Real estate only (residential, commercial, land); Additional security can vary|
|Location||MOSTLY IN UTAH (only in Utah for consumer loans)|
|Closing Time||As quickly as 2 hours, provided title work is complete|
|Appraisal||Not required. Property inspection by Capital Assets staff is usually required.|
|Credit||Credit is not a main qualifier for the loan. The majority of our decision is based on the assets involved.|
|Liens||First liens only|