Borrower Qualifications for Hard Money
Borrowers are qualified by their equity position in the property. Credit and ARV arn’t factors. If you have sufficient equity in a property and are borrowing for a business, investment or commercial purpose, you’re qualified. When you call or send an application you will speak directly to a decision maker. We provide honest answers quickly regarding your prospective loan. Fulford Lending is not a broker; we lend family funds and service each of our loans. We are able to fund loans on both residential (investment properties) and commercial properties.
The Hard Money Advantage
Your Time Matters
When your business has run into a hurdle and you need funding fast, you don’t have the time to wait sixty days or more just to get an approval. That’s where hard money can answer the call.
Fulford Lending specializes in providing express, collateral backed, hard money loans in Virginia, Maryland, Washington D.C, North Carolina and Tennessee. Whether you’re looking for a bridge loan to acquire an investment property, or financing for a fix-and-flip, Fulford Lending is the answer for fast reliable funding.
What We Offer
- Loan Types: Buy & Hold, Fix & Flip, Bridge, Rental, New Construction
- Interest Rates from 9-15%
- Points between 2-4
- LTV up to 70%
- Loan Size between $25,000 and $2,000,000
- Interest Only Monthly Payments
- Loan Terms up to 1- 5 year maturity date with extensions available for all loans in good standing.
- 1st Position liens preferred but we will accept 2nd position liens on a case by case basis
- All of our loans are equity based and must be secured by real estate assets
Frequently Asked Questions
Hard money is a type of financing provided by private investors and small lending companies instead of institutionalized lenders such as banks, mortgage companies and credit unions. Your eligibility is determined by assessing the value of the property securing the loan. That’s why hard money is synonymous with asset/equity based lending. This type of lending is not meant to provide a long–term financing solution, but rather it’s designed to provide short term liquidity to bridge the gap into a long term strategy.
Loans generally close in under a week. As fast as we can get the title work completed, we can move forward.
Application Fee: None
Upfront Fee: None
Underwriting Fee $750 – $2000
The above amounts amounts will be reflected in the HUD statement and paid from the loan proceeds. The title company will have additional charges as well i.e. recordation cost, title policy, taxes, etc.
Our commercial loans are provided exclusively for business and investment purposes. This type of loan requires fast and fluid funding in order to provide continuity in moving your investment and business plans forward. We focus on evaluating the asset used to securitize the loan, which enables us to quickly determine whether we can help. Given this, we are precluded from doing any loans that would qualify as consumer loans (i.e. personal).
None, these are no doc loans with 4 qualifiers
- Commercial purpose for loan amount
- Asset (real estate) securing the loan
- Value of asset
- Your equity position in said real estate asset
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