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The Hard Money Process
By David Schmidt - December 2, 2017
The simplicity of obtaining a hard money loan is the primary appeal for investors to seek this type of financing. The first step is always to call first and discuss the loan, property type, exit plan and terms with David Schmidt 970-922-3277. If the deal is of interest then a quick due diligence process has to begin where the as is value of the property is verified, the credit worthiness of the loan is analyzed and then a term sheet is issued by the lender to the borrower. We underwrite all of the loans we fund so if a term sheet is issued the loan will fund.
Once the term sheet is executed preliminary title is created along with a title insurance policy and the DOCS for the hard money loan are created. Money is wired to the title company and the loan is funded.
For further information regarding a hard money loan please call David at 970-922-3277.