Hard Money

Hard Money To Finance Every Deal That Makes Economic Sense!
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Hard Money

Hard money refers to money that is borrowed at a high rate of interest,
usually because the borrower has credit problems,
or is not a bankable borrower due to an unusually high amount of credit card debt, etc.
Sometimes it's because the borrower needs money faster than a bank will give it.
In every case there must be plenty of equity in a parcel of real estate
to qualify for a hard money loan.

The usual Loan-To-Value (LTV) ratio on hard money is between 50-60% tops!
This means that if you have real estate with a Fair-Market-Value of $200,000;
you can borrow somewhere between $100,000 and $120,000 against the real estate as a first mortgage.
Hard money rates are always high: between 17%-24%
and there are always points!
The term varies from 1 year to 5 years.
The Annual Percentage Rate APR is usually between 19%-28%!

The LTV on raw land and other non-income producing property is usually 33%.
On land development deals the LTV can be higher.
Credit rating is not too important in a hard money loan
unless the borrower is simply a chronic deadbeat
who is always behind on all debt.

Real Estate appraisals are not too important during the first year of ownership.
All loan decisions are made based on purchase price.

Hard Money does not mean that we supply the money and you supply the brains!

It means you supply the collateral and we supply the money!

In all 50 States we have many "Hard Money" no-income verification,
no-credit check programs available for commercial real estate
of any type and for construction and land developement.
Our typical loan in these situations is 40-50% of the value of the real estate.
We do not place much emphasis on credit history or ability to make monthly payments!
Many Hard Money loans can be structured so that there are no monthly payments.
If your hard money deal makes economic sense,
and you have plenty of collateral; Let's Talk Now!

As long as your deal makes economic sense: we have the ability to structure a short term loan collateralized by real estate.

There are many good reasons for a "Fast" Hard Money Loan:

Here's what we don't want to hear:

(These examples are not meant to sound insulting.
They are simply mentioned to save us both a lot of time and phone bill expense!)

(A) You bought a parcel of property last week for $10,000.
But you got a great deal because you're a genius and the previous owner is an idiot!
The property is really worth $38,000,000!
And all you want to do is borrow a mere pittance of $400,000 against the property.

(B) You're going to buy a distressed property for $5,000.
After you fix it up it will be worth $38,000,000.
You want to borrow $400,000 against the anticipated selling price.

(C) You have a chance to buy a "Can't Miss" business.
The last 9 people who owned the business went bankrupt because they were all stupid!
Now all you need is $400,000 and in a short period of time
the business will be worth $38,000,000!

(D You have an appraisal in your hand that states that a piece of property
is worth $38,000,000.
You can buy it for $400,000.
You want to borrow $600,000 from us.
$400,000 to buy the property and $200,000 for loose change
to help with your living expenses until your ship comes in!

Hard money does not mean that we will lend you money
at a high rate if you do not have equity of your own into the deal.
If you have enough equity in your real estate
we don't care if you're the Town Drunk or your going to jail in the morning!
Chances are; you are going to get a hard money loan!

However, If you have no equity, and no money to put into a deal;
you are simply not going to get a hard money loan.
You don't need us, you need Jiminey Cricket, or a partner with some money!

We do not have any 100% finance programs!

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Massachusetts Mortgage, Loan, and Finance Company
6 Richardson Street
Box 1344
Saugus, Ma. 01906
781 727 5870 cell phone
8 miles North of Boston

E-mail: submission@massachusettsmortgage.biz

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