Commercial mortgages and multifamily mortgages brought to you by CFG. CFG is a real estate finance firm specializing in long-term, fixed-rate, non-recourse mortgages on commercial and multifamily properties nationwide.

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Hard Money

[ HUD Mortgages ] [ Hard Money ] [ Bridge and Mezzanine Loans ]

Hard Money Loans (also called High Yield Loans) are generally short-term loans (1-3 years).  These loans carry higher interest rates than typical permanent loans, and also cost more up front points to the lenders.  In addition, they may have a "back end" fee to the lender when the loan is paid off.  By definition these loans are not meant to be the final financing solution to a borrower's needs.  The key issue for all Hard Money lenders is "How am I going to get repaid?"  If a borrower can reasonably answer this question, he would have a chance at obtaining a Hard Money Loan.

Hard Money loans are ideal for borrowers who find themselves in any of the following situations:

  1. They are in quick need of financing in order to take advantage of an investment opportunity, and do not have the time to pursue traditional financing.

  2. They have poor credit, and traditional financing sources are shying away.

  3. There are environmental problems at the site, and again traditional financing sources are not interested until the property is cleaned up.

  4. The property they are either buying or already own is not stabilized (possibly has high vacancies that should be fixed soon or does not have enough of a track record to attract permanent financing) and need cash to bring the property to the point where it can qualify for permanent financing.

In each of the above situations, a Hard Money loan would enable the borrower to have the capital to remedy the situation, which would then enable the property to obtain more permanent financing.  CFG has excellent sources for these types of loans.

 

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Judd A. Volk, President
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Last modified: February 06, 2008