Commercial Hard Money Loans

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Hard money commercial lending basics

Even in these tough economic times Broker Enterprise, LLC is able to fund difficult hard money commercial loans that most other lenders would turn down. Below are the details on Broker Enterprise's, LLC hard money commercial lending program. Commercial Hard Money loans are typically used for borrowers who have bad credit or less than perfect credit or who need commercial funding fast. We offer hard money commercial loans where low credit scores are of limited concern.

Hard Money Commercial Lending Basics

What is the main reason an investor would use hard money commercial loan?
The two main purpose of a hard money loan is  acquiring non income producing properties and foreclosure bailouts.

Is it possible to get 100% hard money commercial loan?
Yes, even in commercial hard money loans it is possible to obtain 100% acquistion. 

What is a hard money commercial loan?
The definition of "hard money commercial" when referred to in real estate financing, is essentially a non-bankable loan. The name hard money commercial is frequently interchanged with "no-doc" or private loans. For a hard money commercial loan, the underwriting decisions are based on the borrower's hard assets (real estate). Hard money commercial loans typically close relatively quickly. Broker Enterprise LLC is the leader in hard money commercial lending (NO-DOC / Private lending).

Hard Money Commercial Lending verses traditional lending
Traditional loans from banking institutions rely heavily on borrowers income, credit, tax returns, etc.. as opposed to a hard money commercial loan's primary reliance on the hard real estate asset. Along with requiring substantially more documentation, conventional lenders have minimum credit scores (typically low 700 Fico and above) as opposed to hard money commercial loans that are underwriting on the collateral as opposed to the borrowers credit (Broker Enterprise LLC has closed loans with FICO scores in the low 400s). Along with different underwriting standards, loans on conventional commercial loans can take months to close; hard money commercial loans close much quicker. The final important differentiator between hard money commercial financing and conventional financing is the interest rate. Since there is more risk in a true collateral based loan, the interest rates are higher than a conventional mortgage.

When is a hard money commercial loan appropriate?
There are numerous circumstances where a hard money commercial loan is the best option for a client.

  • Borrowers with impaired credit (Broker Enterprise LLC can lend to borrowers with any credit)
  • Tax Liens/Judgements/unpaid utility bills, etc…:
  • Partner Buyout
  • Owner Occupied properties
  • Time constrained borrowers
  • Foreclosure avoidance
  • Foreign Nationals
  • Complex loans with multiple pieces of collateral
  • Why we ask for a credit report? Even several of our programs do not base on credit scores, some of our funders like to know if the client is a "400 fico...upside down right now with recent repossesions, liens, lawsuit, bks, etc ...clouding title. If the client can't make a car payment, how can he/she pay for a commercial property?"

  • Even 100% Acquisition available
  • Quick Closings
  • Individuals, Corporations, LLC's, Partnerships, Trusts, Estates, etc.
  • Non-credit score driven
  • No income verification
  • Bankruptcy/Foreclosure OK
  • LTVs up to 75%
  • Most property types: Office Buildings, Restaurants, Marinas, Retail, Apartments, Gas Stations, Bed and Breakfasts, Mixed Use, Mobile Home Parks, Churches, Auto Repair, Industrial, Hotels, Motels, RV Parks, Land Loans, Retail, Golf Courses, historical buildings, multifamily, Strip Malls, Shopping Centers, Resorts, Self-Storage, Adult Entertainment, etc.
  • Loan Purpose: Purchase, Refinance, Bridge loan, Operating Capital, Cash Out Refinance
  • Typical Interest Rates: 9% to 17%
  • Typical Costs: 4 to 10 points - These may be rolled into the loan
  • Minimum Loan Size: $250,000
  • Maximum Loan Size: No Maximum
  • Loan Terms: Typically 1 to 3 years
  • No Prepayment Penalty

  • Minimum Loan Size: $50,000
  • Maximum Loan Size: $1.5mm
  • LTVs up to 75%
  • Read parameters above
  • Hard Money Line of credit avail: 620 fico, 2yrs tax, and $20k liquid cash **amazing program if clients thinks about it deeply.
  • Broker Enterprise, llc

    800 Town And Country Blvd, Ste 300
    Houston, TX 77024
    Phone: 832-615-4796
    Fax: please scan and email

    About Our Service...

    With our service, we can work with clients to . . .
    acheive no money out of pocket. In order for this process to perform successfully, clients must have the right mindset to move forward; refer to our special note. This may not work for every client.