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CITI FINANCIAL GROUP HARD MONEY OVERVIEW: A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by
the value of a parcel of real estate. Hard money loans are typically issued by private investors or companies. Interest rates are typically higher than conventional commercial or
residential property loans because of the higher risk taken by the lender. Most hard money loans are used for projects lasting from a few months to a few years. Hard money is similar to
a bridge loan, which usually has similar criteria for lending as well as cost to the borrowers. The primary difference is that a bridge loan often refers to a commercial property or
investment property that may be in transition and does not yet qualify for traditional financing, whereas hard money often refers to not only an asset-based loan with a high interest rate,
but possibly a distressed financial situation, such as arrears on the existing mortgage, or where bankruptcy and foreclosure proceedings are occurring

Rehab and Commercial Hard Money plus Private Loans

Rehab Hard Money Loans

A commercial rehabber/investor can use a hard money loan for short term financing. Once a property has been renovated and sold for a profit, the funds are repaid and we can often
allow the borrower to use the funds again on the next project. The average closing time for an approved loan is just two weeks!

Hard Money Bridge Loans

A bridge loan (bridging loan) is a short-term loan which bridges the Borrowers plan from one point to another. The bridge loan is useful when a Borrower only needs financing for a short
time frame where a long-term fixed rate loan does not make sense. A hard money bridge loan can be used by a real estate developer, or other business entity to take advantage of
commercial opportunities that don't fit into the traditional bank standards. Our typical maximum loan-to-value allowed on subject properties is 75%. Additionally, Borrowers are required
to have a minimum of 10% cash or equity invested in a project when applying for a bridge loan; this is known as "skin in the game".

End of Construction Pay Off Loans

If a developer has a construction project that is at least 75% completed, they can obtain a hard money loan to pay off the construction lender and complete the project. A hard money loan
can also be used to bridge the gap between a completed project and standard financing from a bank or traditional lender. With an End of Construction Pay Off Loan, A developer can use
the collateral of the current project to raise capital for the next project.

Commercial Refinances

Commercial cash out refinances allow you to extract equity from real estate you already own. It can be a quick way of generating additional working capital to be utilized as you see fit..
Once all required paperwork has been submitted to our office, your hard money loan will fund as quickly as one week.

Foreclosure Bailouts (Foreclosure Prevention)
A hard money loan can be used to prevent foreclosure on a commercial property. A pending foreclosure can be stopped, if a property can be collateralized for up to 65% of its loan to
value, based on the quick sale value of the property.

Purchases (Acquisitions)

A hard money loan can be used to purchase real estate if a borrower does not meet conventional bank standards or does not have time to wait for a traditional banks typically slow
lending process. Hardmoney allows for things that banks never allow: low or no credit scores, incomplete construction, property in need of repairs, etc. Hard money funding can be used
to quickly work around these financing problems and provides the opportunity for a savvy investor to acquire new properties.

Foreign National Commercial Mortgage Loans

This kind of hard money loan is for foreign investors who want to purchase commercial real estate in the United States. All sorts of property can be considered for hard money funding,
including; commercial, industrial, residential, hospitality, rehabs, etc. Few restrictions exist for countries with notable exceptions being Borrowers from, Afghanistan, Venezuela, Iraq, etc.

Mezzanine Loans (and how they differ from bridge loans)

A mezzanine loan can be a type of bridge loan in the sense that it is short-term and not permanent financing. However a mezzanine loan is not secured by property, it is secured by an
ownership interest in the company that owns the property. This occurs when the Borrower needs more money than he is able to borrow against the property, so he puts up an interest in
his company as collateral.
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What to Expect when
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Banks and Private
Alternatives
Part 1

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