Hard money loans? Dominion specializes in hard money/fast funded private loans.
We lend nationwide to individual and corporate borrowers on all property types. We specialize in short term real estate secured loans, often called bridge loans and/or hard money loans. We provide these loans for many types of income producing commercial properties, land development, bank workouts, foreclosures and bankruptcies.
What is a "Hard Money Loan"?The term "Hard Money Loan" as it is referred to in real estate or lending world is a type of non-bankable loan. Usually this means a loan where the lender can approve the loan request based upon the value of the assets and the equity in the assets, side stepping much of the usual time consuming documentation and verification that a more traditional lender might require to lend the same amount of money.
Hard money loans are also those loans that need to fund quickly and the borrower cannot afford to wait for weeks or months for a traditional lender.
A hard money loan is based upon the value of the real assets or collateral anchoring the loan without significant regard to:
- the borrower
- the borrower's income
- the borrower's employment
- the borrower's credit
- the borrower's tax returns
- the borrower's assets
The hard money lender will tend to over look many items that are critical to a traditional lenders. These overlooked details will include:
- Foreclosures
- Bankruptcies
- Judgments
- Credit dings, dents, and damage
- Limited credit history
- Unreported income
- Unknown sources of down payment
Call us. We're here to help with all of your hard money loan needs.
