Hard Money Basics
Hard Money Loan Requirements: What You Actually Need
No jargon and no sales pitch. This is how we explain it at the Averlend desk, with the math that matters.
Hard Money Basics
The short version, then the substance.
Key Takeaways
- The deal requirements
- The borrower requirements
- The documents
The deal requirements. Real collateral with verifiable value, equity or cash in the transaction, and a credible exit inside the term. That is the spine of every approval. Bring those three and the rest is paperwork.
The borrower requirements. An entity to borrow through, basic identification, and honesty about the numbers. Experience helps your terms but a strong first deal still gets funded. Credit is a minor factor because the asset does the qualifying.
The documents. Purchase contract, scope of work if there is a rehab, photos, payoff or title information, and entity documents. Half a day of gathering, and your file moves to the front of the line.
The South Texas angle. Averlend underwrites this every week in Corpus Christi and across Nueces County. If you are working a deal in downtown or anywhere else in the metro, the theory above comes with a local desk attached: see our Corpus Christi lending page or send the deal directly.
Questions
Quick answers from the Averlend desk.
The Averlend Promise
Reading is free. So is a deal analysis.
Send the collateral, the numbers, and the exit. An Averlend rep will reach out ASAP, same business day.