HARD MONEY LOANS

Hard money loans are typically for borrowers with credit issues and low credit scores, but sometimes borrowers with higher scores take advantage of these programs for investment property purchases with intent to resell at a quick profit. We can usually close in 7 - 14 days and depending on investor and geographical area, investor guidelines vary. Programs are available for both purchase and refinance.

While there is usually no minimum credit score required to qualify, borrowers usually must have at least 30 - 35% equity in their home to be eligible. Purchase require a minimum 20% down paymentThe terms are normally rates of at least 9% with interest only payments along with financed origination fees from 4% and up.

In most cases, full appraisals are not required, however inspections are normally made by the investor. Please call us (888) 856-3235 for more program information and prequalification.

You can apply online at www.joebellmortgage.com and be preapproved within 24 hours.