Hard Money Loan Service
916 E. Baseline Rd, Suite 106
Mesa, AZ 85204
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About Hard Money Loan Service
Headquartered in Mesa, AZ, Hard Money Loan Service is a hard money lender providing loans in Arizona. They offer ground-up construction loans, short term loans, commercial loans, fix-and-flip hard money loans, and rental property loans. They provide rates ranging between 10% and 14%, terms up to 6 months, and loans with a maximum LTV of 70%. They offer loans on most property types, including single family units, multi family residences, apartment buildings, office buildings, retail spaces, storage facilities, mixed use, hotels and motels, warehouse buildings, and industrial buildings.
Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans, Bridge Loans
Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Storage, Mixed Use, Hotel, Warehouse, Industrial
Areas Served: AZ
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Lending Guidelines for Hard Money Loan Service
Below are the general loan guidelines published on the Hard Money Loan Service website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: N/A
Available Rates: 10% - 14%
Typical Terms: 6 months
Points Charged: N/A
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: 3 - 5 DaysFix and Flip Loans
Loan Amounts: N/A
Available Rates: 10% - 14%
Typical Terms: 6 months
Points Charged: N/A
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: 3 - 5 DaysCommercial Hard Money Loans
Loan Amounts: N/A
Available Rates: 10% - 14%
Typical Terms: 6 months
Points Charged: N/A
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: 3 - 5 DaysNew Construction Loans
Loan Amounts: N/A
Available Rates: 10% - 14%
Typical Terms: 6 months
Points Charged: N/A
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: 3 - 5 DaysBridge Loans
Loan Amounts: N/A
Available Rates: 10% - 14%
Typical Terms: 12 months - 24 months
Points Charged: N/A
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: 3 - 5 Days -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Hard Money Loan Service.
Loan Example 1
Leonard is an investor in Phoenix, AZ. He finds a run-down property and wants to remodel it and sell it for a profit. The house costs $200,000 but he doesn't have the full amount so he takes a private money loan with Hard Money Loan Service. As the lender sets a 80% loan to value, Leonard will have to put 20% down and the total amount of the loan will be $160,000. The loan is interest-only, with monthly payments, and is for 6 months at 14% interest with 2 points to be paid at closing.
According to the parameters of the note, Leonard will have to pay a $3,200 origination fee in addition to 20% of the sales price, or $40,000, since there is a 80% LTV. The lender will collect $1,867 in monthly interest payments from the borrower. This is computed by taking the total loan value of $160,000, multiplying by the 14% interest rate, and then dividing that amount by 12. If Leonard meets his goal of a $250,000 sales price at the end of the loan term, he would pocket a total profit of $35,600 after re-paying the principle and subtracting the cash he contributed at closing, the origination points, and the total monthly interest payments.
Loan Example 2
Reginald takes out a fix and flip loan from Hard Money Loan Service in order to renovate a townhouse to re-sell in Phoenix, AZ. The deal has the following terms:
$240,000 sales price
70% loan to value (LTV)
18 month term
11% interest rate
5% origination feeBased on a $348,000 sales price after the 18 month term, the final numbers for the project would look like this:
$348,000 sales price
- $168,000 principle on note (70% LTV)
- $72,000 down payment (30% on 70% LTV)
- $8,400 origination points (5% of the $168,000 principle)
- $27,720 interest payments (18 months x 11% interest)
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= $71,880 gross profit (doesn't include taxes or renovation costs) -
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