Pmfpartners.com
As private mortgage lenders:
We lend up to 65% of appraised value
No credit check or detailed application forms required
We usually render a decision in 24 hours
Our Loans are interest only, paid monthly and due in one or two years, or can be amortized over 25 years with a 5 year balloon
We make 1st lien loans, with interest rates of 12%, with 3-4 points at closing
No application fee or other costs are due up front
Hard Money Lending is not dead! Although there have been significant changes due to the recent pandemic, you can still obtain a hard money loan! Visit our website for more information about hard money loans to be used for the acquisition, rehabilitation and equity cash out of investment and commercial properties!
I feel like commercial mortgage brokers and commercial mortgage lenders need to do a better job of educating potential borrowers about what is required to successfully obtain real property financing. We get numerous submissions for loans in which the broker submitting the loan application on behalf of the borrower have no financial information on the property, no rent roll, no tenant list, no financials on the borrower or borrowing entity, no information on the size or configuration of the property, no executive summary, and sometimes don’t even have an address for the subject property. But they all want to know if we can finance this loan!
PMF is a leading private lender in Magnolia,Texas, provides hard money loans, direct financing, commercial mortgage, bridge loans in Magnolia,Texas. for direct financing call us today :(936) 588-8501
Once you have determined the loan characteristics most important to you, you will have to choose whether to use the services of a mortgage broker or go directly to a lender. Finding a good mortgage broker will save a large amount of time, enable you to leverage his knowledge so you’ll know the kind of loans you qualify for and the documentation required for each, and also expose you to lenders that work exclusively through hard money mortgage brokers and don’t deal directly with investors.
Dealing with a bad mortgage broker will often result in getting a loan not fitting your criteria, or paying way too much for the loan, or worst of all being strung along and losing the property under contract by not being able to perform.
For more information contact us:https://www.pmfpartners.com/
Once you have determined the loan characteristics most important to you, you will have to choose whether to use the services of a mortgage broker or go directly to a lender. Finding a good mortgage broker will save a large amount of time, enable you to leverage his knowledge so you’ll know the kind of loans you qualify for and the documentation required for each, and also expose you to lenders that work exclusively through mortgage brokers and don’t deal directly with investors. Dealing with a bad mortgage broker will often result in getting a loan not fitting your criteria, or paying way too much for the loan, or worst of all being strung along and losing the property under contract by not being able to perform.
Getting a loan during COVID-19 will definitely be different than borrowers have been used to over the past few years. Most prim borrowers who had borrowed from banks will likely borrow hard money more than before. And yes, we still will be funding during the COVID-19 recession.! If you are in the market for a hard money loan, contact PMF Partners. We will help you explore the current options.
Private mortgage money offers unique advantages for the professional real estate investor. Private mortgage lenders are able to close most loans in 2 weeks or less whereas institutional lenders require 6 weeks or more to close and fund a commercial mortgage loan. Further, private mortgage loans are asset-based; the real property itself is the basis of the lending decision. Hence, if a property is producing or can produce sufficient income to pay the interest on the note and the value of the property will fully secure the note and provide sufficient equity, then the borrower’s credit is not an issue.
Instead of concentrating on the minute detail of the borrower’s credit history as institutional lenders do, private mortgage lenders concentrate their due diligence efforts on the real estate securing the loan. They provide the professional real estate investor with the ability to borrow on underwriting criteria not available through institutional lenders. No credit check or detailed application forms are required and private mortgage lenders can usually render a decision in 24 hours.
For hard money, loans Visit us: https://pmfpartners.com/
Hard Money Lendersspecialize in hard to place short-term real estate secured loans including commercial, construction, bridge, land acquisition, development, residential (in selected areas), raw land, and other real estate-related loans. These private Money Lenders are often used when: time is essential, the project or property does not meet the criteria of conventional lenders, bad credit, bankruptcies, judgments, foreclosures, or IRS problems muddy the waters. In order to interest a Hard Money Lender in financing a project, the borrower(s) must be willing to adhere to the basics of Hard Money Lending. a
The term ìHard Money actually derived from the idea that the Project is hard to finance, not that the Lenders are Hard to work with. Hard Money Lenders often will take higher risks and loan money quicker to Qualified Projects than the Conventional Lenders, at a higher rate, but the project must make financial sense. The most important factor to a 1st position loan in Houston is the risk of their investment and the collateral of the project.
For more information visit us: https://pmfpartners.com/
PMF is a leading private lender in Magnolia,Texas, provides hard money loans, direct financing, commercial mortgage, bridge loans in Magnolia,Texas. for direct financing call us today :(936) 588-8501
The expectation among many is that lenders are actively looking to make new loans or refinance existing ones, but that is not the case. Consequently, commercial loan volume is down and loans that are being made now are being closed with more difficult underwriting requirements. This is causing borrowers to look into hard money loans. Visit our website for more information about hard money loans to be used for the acquisition, rehabilitation and equity cash out of investment and commercial properties!
We help real estate investors build their business with hard money loans. Apply today or contact us for more information and to discuss how we may be able to work together.
PMF is a leading private lender in Texas, provides hard money loans, direct financing, commercial mortgage, bridge loans. for direct financing call us today :(936) 588-8501
