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Hard Money Loans – Bridge Loans – Private Money
Client Testimonial: Prime Resource was so helpful in getting us the funding we needed to purchase another fix and flip. Thank you for the fast and smooth transaction. – K.C. Dallas, TX
Client Testimonial: We had gone to many other hard money lenders and found that Prime Resource Capital offered the best services and lowest rates. The trust factor played a big part in decision to go with Prime and we’re glad we did. – E.L. Phila, PA
Rehab or Fix and Flip Loans
We provide rehab loans for individuals looking to profit from a rehab project. We can fund based on the After Repair Value or the As Is value.
We can also fund the rehab costs rolled into the acquisition costs.
No two projects are the same and we understand the difficulties of such projects. Please feel free to call us for a solution to your needs.
By taking advantage of this great offer, you can get ahead of the competition in the commercial real estate market.
A bridge loan or hard money loan from Prime Resource Capital can make all the difference when you are bidding on properties.
If the property has sufficient equity, poor credit is often not an issue. We can fund projects based the performance of the underlying asset.
Rates and Criteria for Hard Money Loans and Bridge Loans
- Rates start at 7.99%
- Min: $100,000
- Max: $100MM+
- Fast close! 7-30 days depending on situation
- Collateral: Any Non Owner Occupied properties, Hotels, Multi-family, Mixed Use and Commercial
- Amortization: Interest only
- Low origination fee
Examples and use of a Hard Money or Bridge Loan:
- Multi Family Dwellings in Boston MA suburbs
- Loan amount $1,820,000
- Property Value $3,100,000
- Non-Owner Occupied Single Family Residence (SFR) in Lakewood, NJ
- Loan amount $175,000
- Property Value $350,000
- Proceeds used to purchase another property
- Fix and Flip – SFR – Non Owner Occupied – East Hampton, NY
- Loan amount $810,000
- Property Value $2,100,000
- 3-Unit Residential Building in Brooklyn
- Bridge Loan amount $1,000,000
- Property Value $1,700,000
- Use proceeds to make repairs and other investments
- 2-Unit Non-Owner Occupied Purchase and Flip – Yonkers, NY
- Loan amount $258,000
- Value $425,000
- Multi Family Home – Connecticut
- Loan amount $365,000
- Commercial Strip Shopping Center
- Loan amount $650,000
- Pay off tax lien and other debt
- Loan amount $200,000
- Acquisition and rehab
- Luxury Hotel
- Loan amount $2,500,000
- Construction and Rehab with Perm Out
- Industrial Building
- Loan amount $880,000
- Buyout Partner
- Vacant Land
- Loan amount $1,900,000
- 50% LTV
- Acquisition for future development
Typically we can close a Bridge, Rehab and Hard Money loan within 10-14 business days. Many times its at the borrowers speed of information gathering that will determine how quickly we can close. We have had instances where we closed loans within 5 business days. Most Hard Money and Bridge Loans depend on the underlying asset to determine loan approval.
At Prime Resource Capital, we can assist the borrower to find a solution to their needs.