Hard Money Loans for Real Estate Investors

Whether you are looking to fund a renovation, have a gap in funding between selling and purchasing a property, or need a refinancing, you could be a candidate for a hard money loan. If you find yourself in need of capital for your real estate project, Spectra Lending may be able to offer fast access to cash with a hard money loan.

Short-term financing through a hard money loan could offer flexible options to maintain or restart your real estate project.

Unlike traditional lenders, Spectra Lending is a private lender. Private lenders can offer more flexible loan terms and faster approvals for real estate investors in need of cash for their projects with hard money loans.

Faster approvals and closing dates

With traditional mortgages, the approval process can take as long as 2-3 months to be approved. Private hard money lenders however, can approve your loan in as little as 5-10 business days.This allows you to access cash quickly to keep your project on track.

Good credit score not necessary

A borrower's credit score and history figure prominently when applying for a traditional loan. However, hard money loans rely on the equity in your property. When applying for a hard money loan, credit history is not an important factor because the loan is secured by your property's equity. Your property will serve as collateral for the duration of the loan. Hard money lenders will use what is known as a loan to value (LTV) ratio to calculate the loan amount.

Customizable terms

The duration and terms for most traditional loans are usually pre-set, and can't be negotiated. Hard money loans however, can be customized to meet your particular needs. As private money lenders, we have the flexibility to structure private money loans to meet the needs of a particular situation.

What about the interest rates?

With hard money loans, interest rates tend to be higher, but keep in mind that these loans are intended for short-term financing and are not restricted to conventional repayment terms.

As a direct hard money lender, we can help you quickly access capital for multi-family residences and apartment buildings, warehouse and storage units, hotel and hospitality properties, health care facilities, and other commercial real estate projects. If you are facing unexpected challenges and expenses and need financing as soon as possible, we can step in with a hard money bridge loan for your real estate investment so that you can face these challenges head-on, without undue delay or disruption.

We realize every situation is different. As direct hard money lenders, we do not take a one size fits all approach. Whether you are purchasing or renovating a commercial property, Spectra is there to partner with you with fast funding to close on your acquisition or to renovate your currently existing property. Unlike traditional lenders, we are not making decisions based on a third party's paperwork or algorithms.

As a private hard money lender, we will be directly involved in understanding your needs and how our funding can impact your real estate investment. Without having to wait for approvals from a conventional lender, we can streamline the underwriting process so you can access funds quickly to start, or keep your project going.

Hard money loans can be an excellent short term solution for commercial real estate projects that run short on capital or that are disrupted by unexpected situations. In these cases, traditional bank financing cannot offer the rapid approval process needed to finance your commercial real estate project that Spectra can, with a fast-closing, hard money loan.

Situations can arise that call for quick solutions that a traditional loan cannot accommodate. You may need to close a deal before long term financing can be obtained. In other cases, unexpected occurrences such as natural disasters can disrupt your project or you may need to bridge a gap in funding to keep your project moving while refinancing your real estate operation. Private money loans are designed for these types of situations.

Spectra offers solutions with hard money loans for real estate. We offer financing that is suited to the individual needs of real estate investors. We partner with our investors to help them realize their goals and empower their growth. We are experienced with complex real estate scenarios and can offer fast funding to keep you on track with your real estate investment projects.