Mixed Use Building In Oregon
Mixed Use Building In Oregon

Hard Money Lending Terms

Hard money loans can help make deals happen! These types of loans are known for their quick funding, in situations that might not qualify for a traditional bank loan.

 

Each hard money lender has different terms, but here are our commercial loan and bridge loan terms:

 

Loan Amounts For Hard Money Loans

We provide hard money loans ranging from $75,000 to $7,000,000.

 

Interest Rate For Hard Money Loans

Our interest rates for the hard money loans that we offer ranges from 10%-14%.

 

Payments On Hard Money Loans

You pay interest only (not principal) for the loan, on a monthly basis.

 

Lengths Of Hard Money Loans

The typical length of our hard money loans is up to 1 year.

 

Extensions For Hard Money Loans

In certain circumstances, we will offer extensions for loans that extend past 1 year. Contact us for more details.

 

Pre-Payment Penalties On Hard Money Loans

There are no pre-payment penalties for paying off your loan before the term of the loan expires.

 

Collateral For Hard Money Loans

For your hard money loan, you’ll need to put up real estate as collateral – we can loan up to 75% of the value of the property that you use as collateral.

 

Lien Position For Hard Money Loans

We need to be in the first lien position on the loan, which means that you can’t owe any money on the property that you’re putting up as collateral for the loan or have any outstanding liens on the property.

 

Fees For Hard Money Loans

Our fees for hard money loans range from 1%-4%. We also charge a $595 documentation prep fee and a $395 administrative fee for each loan. We evaluate the need for an appraisal of the property and an environmental study on a case by case basis.

 

Loan Approval Process For Hard Money Loans

Our loan approval process is streamlined – we can approve most hard money loans in as little as 1 business day.

 

Quick Funding For Hard Money Loans

Once the loan has been approved, we can provide quick funding – within as little 2 business days.

 

TriTalent Funding Group

At TriTalent Funding, we’ve been providing commercial loans and bridge loans since 2004. Our office is located in Portland, and we provide hard money loans throughout Oregon, Washington, and Idaho, as well as other Western states.

 

For more information about our hard money lending terms, or to schedule a free consultation, please call (503) 222-4466 or e-mail edj@tritalent.com.

 

See related topics:

What Is Hard Money Lending

Quick Funding – Short-Term Bridge Loans

Call us today for a free consultation

portland

(503) 222-4466

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