A “hard money” loan is a short-term bridge loan used to acquire or refinance a property when conventional financing is not available or will simply take too long to close. A hard money loan is a great fit in the following situations:

• When you need to close fast (in less than 2 weeks).
• When the property is not generating any income (not leased).
• When the property needs renovations.
• When you don’t have great credit (below 620)
• When you can’t provide verifiable income (no tax returns available).
• Foreign National Borrower

At Capital Funding, our hard money loans close very quickly… even in as little as 3 days! Our hard money loans require no personal income verification and very little documentation!

What is a hard money loan typically used for? A hard money loan also known as an asset based loan is traditionally used to finance the acquisition of a property, as well as improvements or renovations for real estate investors or as a short term financing solution for borrowers who can not qualify with a conventional bank. In the case of a real estate investor, after the renovation is complete the property will be sold or leased up. The hard money loan will then be refinanced with a lower rate & longer term permanent financing. Essentially, hard-money loans “bridge” the gap for the investor until permanent financing becomes available or the property is sold.