eLendDirect.com
Hard Money Bridge Loans
Starting at 9.99%
No Prepayment Penalty
1-3 Year Term
65% Max LTV
Interest Only
$500k & Up
Blanket Loans
Points and loan fees included in loan
48 Hour Decision Time
Commercial Hard Money Loans - Bridge Loans
Hard money loans are backed by the value of the property, not by the credit worthiness of the borrower. Since the property itself is used as the only protection against default by the borrower, hard money loans require more equity and lower loan-to-value (LTV) ratios than traditional loans.
Hard money loans carry higher interest rates than traditional commercial mortgage loans. The majority of commercial lenders, such as banks, do not make hard money loans. eLendDirect specializes in short-term, hard money mortgage loans with terms of 3 to 36 months. Since most hard money loans are riskier than traditional fixed and variable rate commercial mortgage loans, interest rates are higher, usually ranging between 9.99% and 12.99%.
Hard money commercial mortgage loans can be extremely beneficial for businesses and investors with short-term loan needs. eLendDirect is able to provide conditional loan approval within 48 hours, and has the ability to fund loans in less than 14 days, in some cases, in less than one week.
Bridge loans are usually considered hard money loans offered at higher interest rates than traditional loans. This is a short-term loan that is used until a commercial real estate owner or company secures permanent financing or removes an existing obligation. This type of financing allows the owner to meet current obligations by providing immediate cash flow. The loans are short-term and are backed by real estate equity in the subject property, or other commercial real estate or assets.
Hard money loans are backed by the value of the property, not by the credit worthiness of the borrower. Since the property itself is used as the only protection against default by the borrower, hard money loans require more equity and lower loan-to-value (LTV) ratios than traditional loans.
Hard money loans carry higher interest rates than traditional commercial mortgage loans. The majority of commercial lenders, such as banks, do not make hard money loans. eLendDirect specializes in short-term, hard money mortgage loans with terms of 3 to 36 months. Since most hard money loans are riskier than traditional fixed and variable rate commercial mortgage loans, interest rates are higher, usually ranging between 9.99% and 12.99%.
Hard money commercial mortgage loans can be extremely beneficial for businesses and investors with short-term loan needs. eLendDirect is able to provide conditional loan approval within 48 hours, and has the ability to fund loans in less than 14 days, in some cases, in less than one week.
Bridge loans are usually considered hard money loans offered at higher interest rates than traditional loans. This is a short-term loan that is used until a commercial real estate owner or company secures permanent financing or removes an existing obligation. This type of financing allows the owner to meet current obligations by providing immediate cash flow. The loans are short-term and are backed by real estate equity in the subject property, or other commercial real estate or assets.
