For a commercial hard money loan, the underwriting decisions are based on the borrower’s physical assets (real estate assets). These types of loans are also referred as ‘no-doc loans, ‘private hard money loans’, and ‘bridge loans’ In simple terms, this type of loan is not dependent on credit score or financial records. As said earlier, this type of loan can be easily secured based on the ‘commercial assets’ (property). This loan is secured by a first mortgage.
Private lenders find this loan easier to fund and manage since it involves property as a backup. They don’t need to rely solely on the borrowers, as in the case of traditional loans. We are one of the premier lenders in hard money space. We process underwriting and other formalities in- house so that you can save thousands in out of pocket expenses.