UNDERSTANDING HARD MONEY VERSUS TRADITIONAL LOANS

A hard money loan is a secured loan, meaning that we do not focus strictly on a borrower’s credit. Instead, we focus on the value of the collateral, or in the case of a rehab loan, the property’s value. Because a borrower takes out a hard money rehab loan to make repairs or additions to an existing property for future sale, the terms are typically shorter than most traditional loans and often come with higher interest rates. However, because the property is collateral for the loan, default by the borrower will result in the forfeiture of the property to HML Solutions.

Do not let the thought of collateral scare you away from our loan program. We still offer a quick approval process with fewer hurdles than other lenders and offer flexible financing options for your specific needs. We also understand the importance of moving quickly when a real estate opportunity presents itself.

ADVANTAGES OF A HARD MONEY REHAB LOAN

When applying for a traditional home construction loan through a bank or other lender, you often have to wait weeks for approval, taking time to submit and resubmit paperwork, only to find your credit is not quite strong enough. A hard money loan does not place as much of a concern on credit scores because the property is collateral, meaning that the approval process takes days instead of weeks. Working with our team, you will find several benefits compared to other, more traditional options.

• Personal interest
• One-on-one guidance
• Flexible terms
• Fair payment schedules
• Quick turnaround and approval

Our team is available for questions anytime. We want you to be comfortable with the process from start to finish, and we believe in complete transparency.

REQUIREMENTS OF THE BORROWER

Since we focus our efforts more on property value than credit history, we want to make sure that every client applying for a loan can meet their obligations. While banks rely on more traditional tools, like co-signers and down payments, we focus on the individual as well as other factors.

Borrowers will have a better chance at approval if they have construction or rehab experience. While such knowledge is not a strict requirement, it does help us feel more confident in the borrower’s ability to pay back the loan. We do not want to take your property, but we will if necessary.

Beyond experience, our lenders will need to discuss specifics about the project. We will need to understand how much capital you need, projected property value after completion, and construction projections. A hard money lender’s primary concern is understanding the property’s current and potential value, not credit history or other financial references typical lenders will have.

IS A HARD MONEY REHAB LOAN RIGHT FOR YOU AND YOUR PROJECT?

As a hard money lender, HML Solutions has less strict requirements and regulations governing application decisions. We are a private lender, and as such, our approval terms are often more approachable than with traditional financial institutions, like banks.

While there are things a borrower must be aware of before securing and accepting a hard money loan, the ability to close on a loan within a week is often necessary for real estate, especially when dealing with rehab properties. Flipping real estate is a lucrative and competitive market, and the spoils typically go to those who can act fast. We want to help you close quickly, but beyond that, we want to ensure that you are entering into a loan program that suits your needs and remains fair to your bottom line.

SPECIFICS

• LOAN AMOUNTS: $100K – $50M+
• LOAN TYPES: Single Family, Multi-Family, Bridge Loans, Real Estate Acquisition, Short Sales, Construction Loans, REOs, Bank Foreclosed Properties
• LTV: Up to 70% of the as-is value or purchase price (whichever is lower)
• TERM: 1 – 3 Years
• RATE (APR): 10.00% – 12.00%
• CLOSING: 1 – 2 Weeks
• AMORTIZATION: Interest only

Contact the HML Solutions Team for Your Next Project

Here, at HML Solutions, we have an experienced team of direct lenders just waiting to help you with your application. All of our representatives have significant real estate and rehab knowledge, allowing them to work with you, building a custom loan program that will benefit you and your project.

As a hard money lender, we can guarantee a quick approval process, ensuring that you do not miss out on real estate opportunities as they present themselves. We understand that every second counts when you are fighting to outbid and outmaneuver the competition. Our motivation is found in helping investors like you secure properties and build their portfolio and expertise. We hope that our partnership is long and lasting.

If you are looking for a loan to secure a property or complete a construction project, then look no further than HML Solutions. Contact one of our experienced representatives to begin the application process for your hard money rehab loan. You can have preliminary approval within 24 hours.