Hard Money Loan
Close in days with the property as collateral
This is short term financing that leans on the value of the property rather than on your credit. Investors use it to beat cash offers and to buy, renovate and then refinance out.
- Down from
- 25%
- Minimum score
- Not applicable
- Documentation
- Property value
What sets it apart
- Closes in 7 to 14 days when timing decides the deal
- Your credit carries little weight because property value is what drives it
- The term runs 6 to 24 months and is designed to exit through a refinance
- It can also finance the renovation budget
Who it is for
Investors who buy to renovate and resell, and buyers who need to compete against cash.
Does this sound like your situation?
Prequalify in three minutes and we will confirm whether this is the right program for you or which one suits you better.
Prequalify for this programOther programs
ITIN and DACA Loan
Buy a home without a Social Security number
If you file taxes with an ITIN or you hold DACA status, you can buy a home. These loans do not come from the government but from banks that accept your ITIN as valid tax identification.
Bank Statement Loan
Qualify on what comes into your account
When you work for yourself, your tax returns show far less than you actually earn because deductions bring the number down. This program looks at your account deposits instead of your tax returns.
Profit and Loss Loan
One document from your accountant
This one is built for business owners whose real income never shows up on their tax returns. You qualify with a profit and loss statement prepared by an accountant and no bank statements get reviewed.
Electi Financial Solutions manages and supports your financing application. Loans are originated and funded by our lending partner under its own NMLS license. Electi is not a bank or a lending institution.
The figures shown are general parameters of each program and do not constitute a loan offer or a commitment to lend. Down payment, score and documentation requirements are set by the lender and vary based on your profile, the property and market conditions. All approvals are subject to full underwriting.
Equal Housing Opportunity. We comply with the Fair Housing Act and with the Equal Credit Opportunity Act.