Hard Money Lending

 

LOAN PROGRAMS: The loan programs offered at THN Lending cover a broad range of scenarios and property types. Find the type of loan program that best suits your needs from the following list.

Residential Property (primary residence): The most commonly requested type of loan, a Residential Property loan requires the most documentation and borrower qualification. Predatory lending laws protect this type of borrower from being taken advantage by certain types of lenders. We are not in the business to take advantage of inexperienced borrowers which is why we are careful to only lend to borrowers that have the ability to make monthly payments and ultimately repay our loan.

Residential Investment Property: A residential income producing property, like an apartment building or a multi-family dwelling, in which the owner does not reside. After the initial loan approval, required documentation includes but is not limited to a current rent roll, copies of all leases and/or estoppel certificates, current expenses, etc. 

Commercial & Industrial Property: An office, retail, mixed-use, manufacturing, storage, automotive related or any non-residential income producing property. Information regarding net operating income, gross income and/or expenses related to property management and the tenants would be helpful in the processing of this type of loan. Environmental concerns may require further investigation, such as a phase 1 environmental report. 

Vacant Land: Due to the wide array of uses for certain types of land, land loans are particularly difficult. We can accommodate a land loan request based on its value and the demand for similar properties depending on the specific use and location. For example, there is far less demand on a vacant land in the middle of the desert than a commercial lot in a city center. Our loan to value is usually much more conservative for land loans than for improved property.

The above are basic guidelines for the types of loans we fund. We consider every loan request is unique and look at it as such. Therefore, we have the ability to make certain exceptions depending on the situation. Please do not hesitate to contact us with any questions.

 

LOAN CRITERIA

  • Loan Amounts: $100,000.00 up to $10,000,000.00
  • Loan Position: We fund both 1st position as well as junior position loans.
  • Terms: 6 - 24 month terms; interest only (longer terms considered on a case by case basis)
  • Interest Rate: 11% - 14% annual interest rate (loan to value is the main determining factor regarding interest rates)
  • Loan Type: The vast majority of our loans are interest only loans with payments due monthly. We can also incorporate prepaid interest or interest reserves in certain situations which may require that type of structuring.
  • Loan to Value: Up to 70% Loan to value, preferably less
  • Loan Origination Fees: 2% - 8% loan origination fees
  • Prepayment Penalty: No prepayment penalty
  • Loan Processing: We are a direct-lender that can typically fund a loan request within 5 business days. Every loan request is unique however, and depending on the situation, a 5 day funding is usually not a problem.
  • Appraisals: Although we do not require appraisals, if an appraisal is available, it can be helpful in expediting the loan processing.