Private Money Lenders May Offer More Loan Programs Including Commercial

Offer Private Money Commercial Loans to Compliment Your Loan Program Offerings

Private money or "Hard Money" lenders may also offer more than just residential loans.  Private money lenders may also provide commercial loans for credit challenged borrowers.  Banks that offer commercial loans may decline a loan even though a borrower may have substantial equity in the property because of:

• Insufficient ownership seasoning
• Insufficient income history or seasoning (e.g., recent rehab)
• Poor borrower debt-to-income (DTI) ratios
• Poor debt service coverage ratios (DSC)
• No or high vacancy factors
• Fast closing not possible
• Current or history of bankruptcy
• Current or history of foreclosure
• Seller financing to 100%
• Need for improvements or rehab
• Owner occupied or poor tenant credit quality
• Poor borrower credit, Sub-500 FICO scores

Private money lenders will look past the income, history and credit and focus on the equity in the property to secure their loan.  Typically private money lenders will loan up to 60% of the value of a commercial property sometimes more with affinity or multi-family properties. 

Consider offering your clients small balance commercial loans to compliment your existing mortgage services.  Go to www.helveticaroup.com and register to receive more information about private money commercial loans.