Real Estate Financing

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Real estate investors use hard money primarily for speed, higher leverage, and greater flexibility. Borrowers come to us for the reasons mentioned previously but also because of our relationship focus and reliability - capital you can count on! 

We pride ourselves on reliability, hands on and local. Our borrowers know that the terms we issue up front are the same terms at funding. We will review your application and provide you with our loan term sheet within 24 hours. No surprises! No junk fees! We only work with true an asset based lenders. 

Our programs requires a minimum credit score of 600. 

Our programs requires a minimum credit score of 680. 

 Interest rates range from 9.9%-11.9%, 1.5-3 points, and a $1495 document fee. Please inquire about custom terms for experienced borrowers. 

 A “Point” is a fee on a loan that is incurred at the time of funding. A point is equivalent to 1% of the total loan amount. 

 This will vary based on the particular loan, but typically the borrower will have to put in a down payment of at least 10% for a fix and flip loan. 

This will vary based on the particular loan, but typically the borrower will have to put in a down payment of at least 15% for a ground-up construction loan. 

We determine Loan To Value (LTV) calculations based on our in-house valuation of the property. In most cases the max LTV is 70% for our programs. 

We determine Loan To Value (LTV) calculations based on our in-house valuation of the property. In most cases the max LTV is 65% for our programs. 

 Yes - our loans can fund the purchase and renovation costs. 

 No, we do not have prepayment penalties on Fix and Flip loans. 

This is what sets us apart. We have full discretion which allows us to fund your fix and flip loan in as little as 48 hours if all parties are prepared to close. 

 Yes. Every property we lend on is required to carry title, liability, and hazard insurance. 

 You can apply for a loan by filling out the 1-minute loan app. Click here to get started! 

 You will submit your draw request form with all supporting documents such as invoices and/or receipts to ray.pearson@cobbleridgerealty.com

We will generate and provide a link to our inspection phone app. This app will be used to take photos of progress at the property. A third-party inspection is available at borrower request or at our lenders discretion. 

 1-2 business days from the time everything is provided.

  You can take as many draws as necessary but there is a fee for each draw. 

The draw request form is the scope of work completed prior to closing. The scope of work is used to identify what has been completed for each draw. Email ray.pearson@cobbleridgerealty.com if you need a copy. 

1. Filled out Scope of Work and Draw Request Form for the items being requested in this draw.

2. Receipts and invoices for the items being requested in the draw that equal or exceed the draw amount being requested.

3. Other information if applicable- copies of plans, permits and engineering. You can apply for a loan by filling out the 1-minute loan app. Click here to get started! 

When your draw request is reduced or adjusted, it is typically because the amount requested does not align with the progress of the construction and the remaining draw balance. Our goal is to ensure that the property is market-ready and that the funds are being allocated appropriately. By adjusting the draw reimbursement, it will allow the remaining draw balance to better support the construction cost remaining. Remember, the remaining draw balance always needs to be sufficient to complete the project. If the remaining work begins to exceed the remaining draw balance, our lenders will need to pause or reduce draw funding's until alignment is reached. 

The draw request amount is determined based on several factors, including the progress of the construction, remaining draw balance, verification of receipts/invoices and the level of completion required for the property to be market ready. Our team carefully evaluates these factors to determine the appropriate amount for your draw request. 

If you believe that your draw request was inaccurately reduced or adjusted, we encourage you to reach out to our team We understand that there are unique circumstances that need to be taken into consideration. Our experts will review your draw and work with you to try to find an agreeable resolution where possible. 

 To increase the chances of your draw request being approved in full, it is important to closely follow the construction schedule, provide detailed documentation of the progress, and maintain open communication with our team. By demonstrating your commitment to the project and keeping us informed, we can work together to ensure a smooth draw request process.