Accepted property types
Residential, commercial, multi-unit properties, mobile homes, distressed assets, and other investor-owned properties may be considered.
Loan requirements
Hard money requirements are more property-focused than bank-focused.
Ron’s review starts with the asset, equity, LTV, property type, and exit strategy. The goal is to understand whether the property can support the loan.
What Ron looks for
The basics are straightforward.
Hard money is equity-based. A typical loan is around 65% LTV, and higher LTVs may be considered case by case. Income and credit are not usually the main approval factors.
Ron generally wants proof of insurance. Depending on the file, 1-2 months of bank statements may be requested to show cash flow. Taxes should be filed annually.
Not bank-style underwriting
Income and credit can matter in context, but they are not usually the main decision factors in equity-based hard money.
Best next step
Call Ron with the address and the numbers. He can quickly tell you what additional information may be needed.