Hard Money Loans — Quick Reference

When traditional financing isn’t available, a hard money/private loan from Globenet Capital Group IS your only solution!

Hard Money Loans — Quick Reference

Second and vacation homes, investment property, and commercial properties are eligible. Primary, owner-occupied homes must meet certain exemptions to qualify. Call for more info.
Property title vested in a Corp, LLC, LLP, or trust are eligible.
Borrow up to 65% of the conservative value of your second home, vacation home, or investment property for purchase, refinance, or cash-out purposes (no owner-occupied primary residences unless the transaction meets specific exceptions)
1st and 2nd mortgage loans available
Rates from 8.50% to 14.99% (*certain qualifications required)
SFR, condo / townhome, 2-4 units, apartments, mixed-use and commercial income property are acceptable collateral
Less than favorable credit ok
Quick closing
Restrictions

Residential hard money / private loans limited to California only (Commercial income property hard money loans available nationwide)
Minimum hard money residential loan is $50,000
No “cash-out” loans on lots or land
No residential rehab loans based on “after repaired value” (current AS-IS value only)
Homes on leased land do not qualify
All loans underwritten on a case-by-case basis
Use a Hard Money loan to:

Purchase investment or secondary real estate
— with a sufficient down payment plus closing costs
Refinance a loan on a second home or investment property
— obtain cash from equity, pay off a balloon or delinquent loan to prevent a foreclosure
Secure a 2nd mortgage on a second home or investment property
— cash out for debt consolidation, remodeling, repairs, business loans, investments, or for any reason
Obtain a bridge loan to purchase other real estate prior to selling your current property based on the equity in the departing residence (with a new property under contract)
Stabilize or renovate commercial income property
— for commercial apartments, offices, retail, medical, and mixed-use income properties when renovations are required, or to provide interim capital or bridge money prior to permanent financing
You may qualify for a Hard Money/Private loan, even if:

You have average or poor credit, minimal credit, or NO credit
— sufficient equity and the means to repay the loan are more important than your personal credit.
You have a recent bankruptcy, foreclosure, or divorce
— these issues are acceptable for hard money lending with sufficient equity and the means to repay the loan.
You have too much debt to qualify for a bank loan
— with the necessary equity in your property and the ability to repay the loan higher debt-income ratios are OK.
You’ve been on your job for less than two years. Provided your employment is expected to continue a new job is OK.
You have inconsistent or mixed income
— income can be from different sources and still be acceptable.
Title to your property is held in the name of a trust, LLC, or corporation
— title to the property can be vested in a non-natural person.
You need a business loan secured by equity in real estate, but are unable to qualify for a commercial bank or SBA loan.
You are a Foreign National with no U.S. employment or SSN and aren’t able to secure a conventional loan.
The right properties for Hard Money / Private loans

1 – 4 unit second homes, vacation homes, and investment SFR, condos and townhomes. Primary 1 – 4 unit hard money transactions must meet specific guidelines.
Property with title vested in a corporation, LLC, LLP are OK
Apartment Buildings (5+ units)
Mobile Home Parks
Office and Medical Buildings
Multi-Unit Retail
Mixed-Use Properties
Hotels and Motels, Resorts
Athletic Clubs
Restaurants & Taverns
Dry Cleaners
Car Washes
Interest rates, terms, and points for Hard Money / Private loans

Interest rates vary between 8.50%* and 14.99%*, depending on a number of factors.
Maximum Loan-to-Value (“LTV”) depends on location of property and other factors. Areas where property values continue to deteriorate due to excessive short sales, REOs, and foreclosures most often won’t qualify for maximum loan-to-value of 100%.
Points and Fees ALWAYS apply. The percentage of fees for hard money loans varies based on a number of factors.
Terms vary between 3 months and 20 years. Payments are generally interest-only. An early prepayment penalty, if any, may apply.
Points vary per transaction depending on a number of factors and applicable state law.
An Appraisal is almost always required, the cost of which is paid C.O.D. at the time of service.
YOUR PREMIER RESOURCE FOR HARD MONEY/PRIVATE LOANS

Globenet Capital Group is a Direct Lender and Broker specializing in Hard/Private Money Loans. Globenet Capital Group helped many individuals with their financing needs. We have many sources of funds and can usually arrange a hard money / private loan very quickly, with terms that are surprisingly attractive. You’ll be pleased with the full personal attention and service you’ll experience with Globenet Capital Group’s Service.

TRY OUR PRACTICAL, COMMON SENSE APPROACH:

Immediate response. Same day decision in most cases
Our loans focus on your equity, not your credit
Hard money/private investors let us be more flexible and creative
Flexible terms to fit your own special needs
Less paperwork than conventional loans
Fast & Easy approval. Fast funding
Low Credit Score & Credit Problems OK
Cash Out for Any Purpose
Equity Loans & Credit Lines
Residential, Commercial, Land

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