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GoKapital has been rated among the top. Private Hard Money Lenders in the country.
Specializing in helping seasoned and beginner real estate investors by providing short-term mortgage solutions to acquire fix and flips, rental properties, rehab, or refinance commercial properties all across the United States.
What Do I Need
To Qualify For a Hard Money Loan?
The first thing you’d need to get approved for a Hard Money loan is to have at least 25% to 40% down payment in the case of a purchase, or substantial equity in the property if you’re looking for a cash-out refinance.
The higher the down payment or property equity you have, the more likely you will be approved. We will also look at your credit score and cash reserves. We look at this to assess if you can make payments on time and pay for other costs like taxes, insurance, etc. Last but not least, we will look at the borrower’s experience in real estate.
If this is the first time that the borrower is going to finance investment real estate, he or she might face more scrutiny than a borrower with years of experience in these types of deals.
Working with Fix and Flip lenders like GoKapital is a straightforward process tailored for investors.
Just contact us with the answers to these questions and we will give you a quick estimate:
- Property address?
- Property type?
- If purchase, what is the purchase price and down payment available?
- If refinance, what is the estimated value? And what is the amount owed?
- Closing under entity (LLC or Inc) or personal name?
- Amount of liquid assets available?
- How many investment properties have been owned by the borrower in the last 36 months?
- What is the estimated credit score?
- Is the property generating income?
- Rate and term expectations?
We Provide Competitive Non-bank Lending Options
We provide competitive non-bank lending options for commercial real estate and residential rental properties.
Loan Amount: $100,000 – $50,000,000
Terms: 12 months to 30 years
LTV: up to 75%
Amortization: Up to 30 years
Interest Rate: Starting at 7%
Foreign nationals qualify
Low Credit and tax issues: are not a problem
Payments: Interest-only monthly payments, or fully amortized periods
Closing time: 2 to 4 Weeks
Rehab Costs: Up 100%
Lien position: First only
States Available: All 50 U.S. States
How Does A Hard Money Loan Work?
A hard money loan works as an asset-based loan, meaning that while hard money lenders take into consideration the investor’s credit score, this is not a crucial factor in determining his or her eligibility. Instead, lenders require that you use real estate property as collateral.
They use the price of the property to calculate the risk of the loan and the Loan to Value (LTV). On the other hand, real estate developers, investors, and flippers use hard money to get the required funds to close time-sensitive deals where they can get a property at a low price, flip (fix) it, raise the value of the property and then sell or rent at a profit.
The main reason real estate investors choose to apply for a hard money loan is that private lenders can fund the deal within a week–or less if the borrower meets all the qualifications.
HML’s work great on short-term flips and rehabs, or for first-time purchases, yet on longer-term investments, HML’s are not the best idea.
Hard money loans also work similarly to bridge loans. They both have similar criteria for lending. Bridge loans are solely for buying real estate properties or investment properties that don’t qualify for traditional lending programs. A bridge loan can also be used as a down payment for a new home when the buyer hasn’t sold their current house yet.
Bridge loans can be issued by traditional and private lenders, and HMLs are only issued by private lenders, like GoKapital
GoKapital is a private mortgage lender specialized in hard money loans for fixing and flipping houses.
We provide competitive non-bank lending options for commercial real estate and residential rental properties.
We make Commercial Real Estate transactions happen smoothly. Our comprehensive lineup of commercial real estate loans offers solutions for self-employed borrowers that are thinking about purchasing a building, getting working capital through the equity on a property, or refinance their present commercial mortgage.
We lend across all 50 states with private loans that range from $100,000 to $50,000,000 on all types of real estate properties. New investors are always welcomed, learn how to finance a house flip by calling us.
If you have a 20% to 40 percent down payment available, and a 550 or higher credit score,
Then you need to contact and speak with one of our finance professionals today.
Our underwriting process is fast. We can close and fund deals in as little as two to four weeks.
If you are interested in residential real estate investment properties, either by flipping and fixing houses, buying properties, and renting them, or cash-out refinance on a non-owner-occupied property, we offer a variety of solutions for you.
Our approvals are easy to secure, and our closings are quick. To obtain a letter of intent (LOI) or term sheet we just need a handful of documents, call us today for more information.
We Approve Quickly With Minimum Documentation.
- Competitive rates
- Easy process
- All 50 states
- Flexible underwriting
- Purchase or Cash-Out refinances
- Many property types eligible
- Foreign Nationals Qualify
- Tax issues are Ok
- Quick closing
Business Hard Money Loan Calculator
Loan qualification
Time in Business 1+ Year
Annual Revenue $200,200+
Credit Score 560+
