Buy Now Hard Money

About Buy Now Hard Money

Buy Now Hard Money is a Tyngsboro, MA based hard money lender who provides loans in Massachusetts and New Hampshire. They offer private commercial loans, bridge loans, ground-up construction loans, fix and flip hard money loans, and private refinancing. They issue rates ranging between 10% and 12%, loan amounts ranging from $100,000 to $1,000,000 with a maximum LTV of 70%, and terms between 6 months and 12 months. They do not require a minimum credit rating to obtain a loan. They offer loans on all of the following property types: single family units, multi-family units, apartment buildings, office units, retail spaces, mixed use buildings, industrial facilities, and medical offices.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans, Refinance / Cash Out Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Mixed Use, Industrial, Medical

Areas Served: MA, NH

Lending Guidelines for Buy Now Hard Money

Below are the general loan guidelines published on the Buy Now Hard Money website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Buy Now Hard Money.

Loan Example 1

Eric is a real estate investor in Boston, MA. He locates an older property for sale and wants to rehab it and sell it for a profit. The house has a cost of $210,000 but he does not have the full amount so he takes a hard money loan with Buy Now Hard Money. The lender agrees to write a loan with a 80% loan to value (LTV) so they are willing to extend $168,000 on the property. The terms of the deal also include a one point origination fee that will be paid at the closing and a 12 month, interest only note with a 10% rate of interest.

Accordingly, Eric will have to make a $42,000 down payment in addition to paying a $1,680 origination fee. he must then pay $1,400 monthly to Buy Now Hard Money. At the end of the loan, he sells the renovated house for $273,000. After subtracting the $16,800 in interest payments ($1,400 multiplied times 12 months), the $1,680 origination fee, the $168,000 principle amount on the loan, and the $42,000 he contributed to the closing, he will earn a gross profit of $44,520 ($273,000 price minus $228,480 in total costs). This amount would then be reduced by any renovation costs paid by the borrow.

Loan Example 2

Esmeralda is a real estate investor in Boston, MA. She purchases an older townhouse for a renovation project and takes out a private money loan from Buy Now Hard Money with the following paramters:

a) A $260,000 sales price, b) a 55% loan-to-value (LTV), c) a 6 month term, d) a 8% interest rate, and e) a 2% origination fee.

Esmeralda plans to sell the project when the note expires for $351,000. If she accomplishes her goal, the deal numbers would be as follows:

$351,000 sales price
- $143,000 principle on note (55% LTV)
- $117,000 down payment (45% on 55% LTV)
- $2,860 origination points (2% of the $143,000 principle amount)
- $5,720 total interest paid (6 months x 8% interest)
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= $82,420 gross profit (does not include taxes or renovation costs)

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