If you’ve never used hard money before….

Hard money is simply a tool that investors use to make money, so think of it that way.  We want you to make money, and go find another deal and make more money.  That’s the point.  We all benefit.  We don’t want to own the property, that’s not the goal.

 
Pre-approval-
  • We can provide a letter that you can submit with your offer, but this is not project approval, so please don’t consider the letter any sort of guarantee.
  • If you want us to take a quick look at your deal before you make an offer, here is what we need.
 
Types of deals –
  • We fund rehabs, multi families that are vacant or need rehab, commercial bridge loans, condo conversions and new construction.  Land is funded with a 50% downpayment, and only in conjunction with a construction loan for the house.  Individual condos will be considered based on location.
 
First mortgages NO SECONDS –
  • We fund only first position loans:  no second position rehab loans when the conventional financing is in place
 
No Owner Occupied –
  • No owner occupied properties, no second homes, vacation homes, or houses that your sister is buying for you to move into.  You will sign an affidavit stating that you intend never to occupy the property and that the property is not for personal or household use.  You must take title in an entity.
Where we lend –
  • Massachusetts and New Hampshire, but primarily Worcester and East, and NH Lakes Region and South
Terms –
  • 70-80% of purchase price funded, plus 100% of construction, subject to a max of 70% of ARV  Calculate this
  • 10-12% interest only payments
  • 2-3 points up front –
  • 6 month term, sometimes 12 months
  • Skin – You must have skin in the game, or cash in the deal