Before you send a deal
Hard money loan questions
Eligibility, experience, draws, and why there is no rate on this site.
- Is this for a home I'll live in?
- No. We make business-purpose loans on investment property only. We don't finance a primary residence or a second home you'll occupy.
- The property is under contract, but I don't own it yet. Can I send it?
- Yes. That's the best time. Send the contract price, the address, and your closing date.
- Do I need flips under my belt?
- No. There's no minimum number of past deals. Experience can affect terms, so tell us what you've done.
- What do you look at first?
- The property, the price, the rehab budget, and your exit. Credit, experience, and liquidity matter too.
- How do rehab draws work?
- Rehab money is held back and released in draws as work is completed.
- Why don't you publish a rate?
- Because pricing depends on the deal. Leverage, property, and experience all move it. Send the deal and you'll get actual terms, in writing, before you commit.
- Do you lend outside Illinois?
- Yes. The property does not have to be in Illinois. Send it and we'll tell you whether we can lend there.
- What does it cost?
- Rate, points, and fees depend on the deal. You'll see all of them on the term sheet before you commit.