Frequently Asked Questions
Hard Money & Bridge Financing Solutions
Hard Money Loan Solutions FAQ
We offer the fairest rates and closing costs available and don’t require credit reports, tax returns, or bank statements.
HML Solutions LLC is a direct hard money private money lender.
It’s simple. You can start by completing the online application. One of our analysts will contact you within a few hours.
We will request the name of the corporation or LLC, a recent survey, and insurance policy documents.
On average, it takes one or two hours to get a pre-approval. It never takes more than 48 hours.
Yes, we always speak with the borrower and try to meet them in person.
Availability & Eligibility
We primarily focus on issuing private hard money loans in Florida and lend in almost all states except California.
Yes, we have done loans for foreign nationals. The property must be in the United States, though.
Yes, if the property is an investment property.
Yes, nearly all our loans are made to real estate investment companies.
Yes, we require all principals to personally guarantee loans.
No credit score is needed for approving the loan. We are underwriting solely on the value of the property.
The minimum loan amount is $100,000, and the maximum is $100,000,000.
Our rates range from 10% to 12%, depending on the LTV.
This is calculated simply by taking the loan amount and dividing it by the value of the asset or collateral being borrowed against.
No, we typically lend around 60–70 LTV.
Not necessarily. If you are doing a cash-out refinance, we will deduct all the closing fees from the loan amount.
No, our attorney requires a small retainer to prepare the documents and order a survey.
Private hard money loan terms are generally 12 to 36 months.
We will consider extensions if you pay on time during the duration of the loan. Extensions are not guaranteed.
We use online valuation tools like Zillow and analyze comparable properties that have sold. If we can’t determine the value, we will hire a local appraiser.
Typically, loans close within seven to ten business days or once the title is done. We have closed loans in as little as three days.
Apartment complexes, automotive repair shops, bars, bowling alleys, campgrounds, convenience stores, marinas, gas stations, golf courses, industrial manufacturing facilities, land, motels, office buildings, office warehouses, RV parks, restaurants, retail centers, retail single-tenant properties, single-family houses, self-storages, primary residences, warehouses, water parks, and dry cleaners.
We lend on all real estate asset classes.
Yes, we lend on all types of land.
Yes. We will lend on homesteads or a borrower’s current residence if the loan is for business purposes.
Yes, if the current mortgage loan amount is 20% or less than the appraised value.
Yes, we offer short-term construction loans.
Yes, this is something that we do all the time for real estate investors.
HML QUICK APPLICATION
Use our quick-start application below to begin the process. Once received, we will contact you via phone to verify your interest and to gather a few more details: