National Commercial Mortgage Funding, Inc. (NCMF, INC.) is pleased to announce the expansion of their Hard Money Loan services to the state of Florida. This is great news for individuals in or around the greater Miami or Tampa regions that are seeking loans.

If you are interested in obtaining a Hard Money Loan and would like to get more info prior to reaching out to a representative, or are unclear as to the features and options provided by NCMF, INC. please visit our Rehab FAQ’s or our General FAQ’s page for more info.

If you are interested in securing a loan, please feel free to contact our Florida Representative below or fill out a Loan Application and we will respond in a timely fashion.

NCMF, INC. Hard Money Loan Senior Representative – Miami/Tampa Florida Region:

David J Lemon
1175 N Courtenay Pkwy Ste 4-A
Merritt Island, FL 32953

Office: 321-252-4644
Cell: 321-403-8160
Fax: 321-576-0018
E Mail: dlemon@pytharealty.com

Hard Money Lenders Florida – More Info:

If you are someone who is in need of fast cash and you will not be able to get it from the bank,  then you will not have to worry about that too much, for the Hard Money Lenders Miami are at your disposal in order to offer you alternatives. Compared to a traditional bank loan you will find the hard money loan to be a little different. So while the bank will require you to use terrific real estate as security, the hard money lenders will offer funs based on using collateral. These loans are often real estate structured loans, so what this means for the lender is that the underlying property is certainly the major focus here. So to make things simpler, the value of the property that you will put as collateral will influence the amount of money that you will be able to get from such lenders.

When a case will be examined by a lender, the loan originator will have to be aware of certain things. The first question that will have to be answered quickly is what exactly is the property? There are a lot of property styles, yet the hard money lenders will not be interested in all of them. In some cases, they will, but this will only depend on the type of property in cause.

So who will actually decide the value of your property? Well that is generally done by an appraiser, yet it is also a matter that can be the duty of a real estate professional. After the value of the property is decided upon, the client will now be able to state an amount of money he or she needs to be loaned.

After all this info is shared with the lender, the loan can be offered to the client in a very short time. In the majority of cases, the money will reach the client’s bank account within a week or less than that. The fact is you will need to keep in mind that there is a crucial difference between this hard money loan and a regular bank loan. That difference lies in the fact that interest rates are usually much higher for this type of loan. The main advantage though of such loans is that they don’t take into account the client’s credit score and they will also be offered in a very short period of time, which makes them a top choice for people who are dealing with financial expenses they cannot cover.

So if you need Hard Money Lenders Miami and you live too far away from them, then don’t worry for they have expanded to the middle of the state and their Hard Money Lenders Tampa can serve you as well. This means quicker access for those living in that area so no more commuting problems to deal with, as well as further expenses for that.

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National Commercial Mortgage Funding, Inc. (NCMF, INC.) began servicing hard money loans in the greater Chicago area.  They are now proud to announce the expansion of their services north of the border into Wisconsin.  This is great news if you happen to live in or around Wisconsin and are looking to secure a loan.

If you are currently seeking a Hard Money Loan and would like more information on the services offered by NCMF, INC.  please visit the Frequently Asked Questions page.

If you know you would like to proceed with obtaining a loan, please reach out to the  Wisconsin Representative below or fill out a Loan Application and we will respond in a timely manner.

NCMF, INC. Hard Money Loan Senior Representative – Wisconsin Region:

David Antonelli

Cell: 630-675-4730
Fax: 815-439-3370
Email: david@ncmfinc.com

Hard Money Loans Wisconsin – More Info:

The global economy is slowly slipping towards a melt down and experts are saying there will be one more coming very soon. This means that people will be in for even worse times than the ones they are confronting right now. Truth be told it’s already hard to deal and live each day with the current economy bring brought to a halt like this, but people should not worry about it too much, for they can easily get the funds they need from the Hard Money Lenders Wisconsin.  Fortunately we have expanded regions as Hard Money Lenders Chicago is now servicing neighbors north of the border.

So what are these types of loans? Well people who are in need of money fast will be able to put out their goods and get money based on their value. If you need money fast the only way through which you will be able to benefit from this type of loan is to have an asset against which the loan will be approved. There are of course many rules that you will need to stand by in order to be qualified for such loans and the maximum amount of cash you can get will be based on the value of your asset.

A type of loan you may be able to secure is a  commercial hard money loan from Hard Money Lenders Wisconsin. As such the commercial loans will be given against a commercial property. The intricacy of getting one such loan approved will vary from lender to lender and what a lender might consider appropriate for offering you the approval to your request, others might consider that just not good enough.

So how much time do you have until you need to pay the money back? Well depending on the lender there may be a period between two and twelve months in which you will be able to pay the cash you loaned back. If the loan was taken against a commercial property you might have a maturity spanning from six to ten months. But in order to be let in on a commercial loan you will need to own a commercial property to begin with.

As such if you are someone who needs fast cash and you need it now, then you will find that the Hard Money Lenders Wisconsin is the best choice you can ever make. NCMF, INC has now expanded to the Wisconsin area so you will have access to their services swiftly without having to drive for hours in another state. The processing time of your loan will be just seventy two hours, which means that it’s one of the fastest ways of getting money when you need it. Before going with a lender make sure you check his background and see if it’s trustworthy or not. No one will like to deal with lenders that are not reliable and then have to deal with problems that will waste their time and even money in the process. That being said, good luck getting your loan approved!

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National Commercial Mortgage Funding, Inc. (NCMF, INC.) is now servicing Hard Money Loans in the state of Missouri. This is good news for those of you seeking loans in or around the Missouri area.

NCMF, INC. Hard Money Loan Senior Representative – Missouri Region:

Kent Rogers
KW Rogers & Associates
915 NE 46th Street
Kansas City, MO 64116
(816) 550-6871
Krogers.realestate@gmail.com

Hard Money Loans Missouri – More Info:

Nowadays there are actually a small number of lenders that actually understand what flip and fixed investing really is. These Hard Money Lenders Missouri can provide such loans as well as lend in the categories listed below:

• Residential Lenders
• Bridge Lenders
• Development Lenders
• High End Lenders
• Commercial Lenders

Because these types of loans all differ in terms of the way they can help someone, you should know that you will need to find out which of them is actually best suited for your needs. The main reason to why people are going with a residential hard money lender for example is because they are investing into a single family home.

Yet the main difference between the five different types of lenders explained above will always depend on the source of funds. So we can safely say this way that they can be separated into private hard cash lenders and bank lenders.

Bank Type Lenders
When you work with these types of lenders you will actually have your paper sold and leveraged on Wall Street so that you get the money you need. These types of lenders work  by following strict rules which are specified by the Wall Street banks. All of these rules will have to be respected, so for a real estate investor who is more likely to be interested in a flip and fix investing, this might not be a good idea.

Private Hard Money Lenders
These lenders work on a private basis and are usually integrated in a group which will regularly lend money to individuals requesting it. What’s good about them is they won’t have their paper sold to any bank or financial institution.

Private Lenders That Are into Fix and Flip
If you are someone who is interested in finding residential hard cash money lenders that deal with fix & flip loans, then that’s not a hard task to begin with. You need to remember that your property will be set as collateral and the money you will get from the Hard Money Lenders Missouri is going to depend on the value the appraiser has evaluated it at.

In the majority of cases though real estate investors will not have an easy time getting the right financing for buying a property they may have possibly taken under a contract. Even if they later stumble upon a good property and get in touch with a lender to benefit from funding, they may be declined in regards to the approval of their loan due to neighborhood issues. Market depreciation is also a problem and the lender cannot, in many cases, fund the investor because of it.

Last but not least, you should remember that these types of loans are different from a regular bank loan in terms of the interest rate. So you will need to pay more money in interest, but the good news is you will have the money sometimes in as little as a week’s time. NCMF, Inc. has now expanded from Hard Money Lenders Chicago to the Missouri region and you can rely heavily on these Hard Money Lenders Missouri.  So if you are in need of such services you can now easily reach them without having to travel far away like you did before.

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Get your Long Term Financing now with National Commercial Mortgage Funding, Inc. We specialize in Non-Recourse Hard Money Lending and have helped our customers secure loans over the years for assets such as Multi-family, Retail, Medical, Office, Industrial, Warehouses, and More!

What can We Offer?

Long term financing 5 to 10 year fixed rates from 4% to 6%
25 to 30 Year Amortization
Loan Amounts needed over 2mm

What is Non-Recourse Lending?

A non-recourse loan is ideally secured by the asset such as property and the kind of equity in the property. If at all the borrower fails to repay the loaned amount, the only way through which the lender can get back their investment is through the property. There are many financial criticisms that have come from different corners raising issues on the workability and validity of such a loan system. For instance, if the borrower can’t be held liable, to make good the borrowed amount in the event of a default there is really no reason that makes the borrower qualify for this type of loan.

In order to better understand non-recourse financing, I would like to share about the differences between recourse and the non-recourse kind of lending. Recourse loans ideally refer to the exact payment from a secondarily liable party when the first party defaults payment. Non-recourse loans on the other hand are based on an agreement where the lender does not have a right of recourse to the assets of the borrower beyond certain stated limits.

Based on this understanding, recourse does give the lenders much more guarantee that they would be repaid. If the borrower does not live up to the promise, they can also go after any guarantors who were signatories in the agreement. On the other hand, the non-recourse loans do put the borrower off the loan repayment hook. You can be exempted from paying such loans if at all you show evidence of financial inability.

The recourse platform is used by most traditional finance options. For the case of the alternative financing or non-traditional options, the loan funder has the ability to determine the recourse or non-recourse financing repayment platform. In such cases, the private lender does set their own lending and repayment guidelines that are based on experience and what they regard as being of importance to them.

These two types of loans vary mainly due to the kind of financing that is needed and the source of the funding. These loans also do work with assets that have been pledged when obtaining the loan. Types of assets that can be used for pledging these loans include real estate, or machinery. These constitute great collateral. The maximum loan to value ratio is used in gauging the worth of the asset in relation to the amount being borrowed. All this analysis depends entirely on the kind of assets that have been brought to table.

You will agree with me that non-recourse financing is more commonly used in private lending than in traditional lending platforms such as bank loans. This does not however mean that this applies to all financing transactions. There are many differences which have existed between these two lending aspects over the last couple of years. Most of the lenders across the globe are going the recourse way. This is because they are mostly left with unpaid loans. The loan agreement requirements have also changed greatly. You now have to provide a couple of documents such as legal status and identification when seeking any of these loans.

In the non-recourse loan agreement, there is not the same problem as there is in the recourse platform since collateral would stand for the unpaid amount. If at all you cannot repay the amount, the lender has the power to take control of the asset that was pledged as collateral for the loaned amount. For the case of recourse loans, the lender has the right to use all the available methods so as to get the amount paid and in time. If the direct borrower is not able to service the loan, guarantors would have to pay the price. Collateral does not play any role in such a case. The lender can even sue you because this is a legal agreement. This can lead to judgments and more so liens being levied. Remember that liens can be tied to business and personal assets. In such a case, your credit rating would be affected. This can injure your prospects for future loans. Of course there are many more aspects that entail non-recourse financing. Use the internet to find more information about these loans.

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David Antonelli currently resides in West Chicago Illinois.

Some facts about David Antonelli West Chicago Illinois:

1. He currently is a Managing Partner of NCMF, Inc.
2. He lives with his wife Jen and their three beautiful children.
3. He loves to frequent Josef’s Deli in Geneva, IL
4. He is an avid golfer.

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The rehab loan programs available are intended for real estate investors, of any experience level, to purchase, rehab, and flip their subject property. The rehab loans are available for investment properties only. We are not able to fund rehab money for owner occupied properties.

We DO have 100% rehab funding available! This means 100% of your purchase funds, 100% of your rehab funds and 100% of your closing costs! This program is available on a case by case basis and will ultimately be based on the strength of the deal and the borrower (WE DO HAVE LOW SCORE REHAB LOANS).

The Rehab Loan Programs can fund up to 70% of the future value of the subject property (final values based on an appraisal and/or BPO, to be ordered by LENDER.)

The rehab loan terms can be from 3 to 36 months in length. Rates will be between 0.75%-1.5% monthly, interest only payments, on the original loan amount (9%-18% annually). Points will fall between 6-10 in total and can be included in the funded closing costs. Average points charged to the borrower are 7. Points are paid at the closing only (on the HUD-1). This also includes up to 2 points (YSP for LENDER associates). All 3rd party broker fee agreements must be submitted no later than 72 hours prior to closing (We would prefer to collect any fee agreement with the initial application).

LENDER does offer full documentation and stated income REHAB loan programs!

We encourage investors interested in using our rehab funding program to apply BEFORE getting a property under contract. We will pre-approve borrowers for a max spending limit allowing the borrower to shop within their means.

Having the borrower pre-approved also allows us to utilize the length of the contract to collect the necessary documentation from the borrower, order appraisal, underwrite and close the transaction.

All borrowers applications are analyzed individually and borrowers will be approved for any/all programs they qualify for.

Once the borrower has been issued their approval, they will be given the opportunity to review and ask all questions regarding all of the programs they qualify for with one of our processors or Account Executives.

Borrowers can expect to close their transaction within 7-10 days once they have submitted all documentation necessary to begin final underwriting.

If you have any further questions regarding the Rehab Loan Programs, please be sure to reference the Private Money Q&As. Attached..

Private Money Q&A

Q: What kinds of financing can I obtain your private money ?

A: We provide short term financing for purchase only, purchase and rehab, or

cash out projects (properties purchased using cash and need rehab). We do not

provide funding for owner occupancy.

Q: How do I apply?

A: You can apply by completing the Private Money application. This is a two part application process. You will first need to complete the application, and second you will need to complete the application documentation package.

Q: Are you credit score driven?

A: No, we are not credit score driven, however we must pull a credit report on the borrower (and spouse if applicable) in order to calculate an accurate monthly debt to income ratio. We want to make sure the loan we will provide to the client is affordable and logical. We do not want to over extend the clients monthly obligations and put them in a bad position down the road.

Q: If I have had a recent bankruptcy, can you still approve me?

A: Recent bankruptcies are not a problem. We will be interested in learning the situation; however this is not a deal breaker.

Q: If I have a TAX Lien or Judgments, can you still approve me?

A: YES, we simply close you in the name of a newly formed trust we create for you. We charge a set-up fee of $1,000, and add additional fee of $1,500 to you loan balance pay off.

Q: What states do you lend in?

A: Currently we lend in Illinois, Missouri, Kansas, Wisconsin, and Florida.  We do have the ability to lend nationwide.

Q: How much can I borrow?

A: We can lend as little as $10,000 to as high as $5,000,000. Our approvals are notvsolely equity based. We must be sure that the client will be able to afford the monthly interest only payments on the loan they are requesting. We may also request that an interest reserve is collected at closing on some of those higher risk transactions.

Q: Is there a maximum amount you will lend for rehab/repair costs?

A: There is no maximum limit to the rehab being requested; however there is a fine line between rehab and construction. We do not finance any major demo, construction or additions. Rehabbing would consist of repairing and upgrading the current condition of the property through normal and needed repairs.

Q: What is your maximum LTV?

A: Our rehab loans can fund a max of 70% of the future value of the property (to be determined by a Broker Price Opinion or Appraisal). We can include purchase price, rehab cost and closing costs, not to exceed 70% of the after repair value (ARV). Our purchase only loans can fund up to 100% of the current value of the property. Our cash out programs can fund up to 65% of the current value of the property.

Q: Is down payment required?

A: We do have 100% funding programs available; however we also have programs which may require down payment. When a client is approved they will be issued an approval letter disclosing all of the programs they qualify for. A few programs may require down payment and a few may not. The client will then get to decide which program best fits their needs and they will get to select the program they wish to move forward with.

Q: What are your rates?

A: Annual rates can vary depending on which programs the client qualifies for. Rates can be anywhere between 9-15% annually, however we typically lend money for a max of 6 months with monthly interest only payments between .75% and 1.5% of the total loan amount.

Q: How many points do you charge?

A: Points can vary depending on which programs the client qualifies for. Points can range from 3-9 in total. Loans below $25,000 will have a minimum fee of $2,500.

Q: How quickly can you approve me?

A: Once an application is submitted in completion (complete application and documentation package), we can have an approval within 24 hours. This approval will disclose any and all programs the client qualifies for complete with rates, terms, points, down payment etc. The client will then have the opportunity to ask questions, address any concerns and come to a decision if our funding options are a good solution for their funding needs.

Q: How long are loan approvals good for?

A: Once a client is approved and they agree to move forward with the approval issued, that approval is good for up to 1 calendar year. This allows the client to shop for a property without making illogical offers due to being strapped for time. We want to allow the client to shop with ease and make smart investing decisions. The approvals are issued for a single transaction with the Lender. If a client is interested in multiple transactions simultaneously, they will need individual approvals per each transaction.

Q: Will you provide a proof of funds letter?

A: Yes. Once a client is approved and the client agrees to the terms and conditions of their approval, we will begin issuing proof of funds letters. We can submit these as frequently as needed as general letters or specific to the property address and offer price the client requests to be disclosed.

Q: How quickly can you close?

A: Once the client has a property under contract and we have collected the full documentation package needed, we will be able to fund within 7-10 business days.

Q: What documentation is required?

A: We do have stated programs as well as full documentation programs. The approval the client is issued will disclose which programs are stated income and which programs are full documentation. There is a documentation checklist of all items that will be requested.

Q: Do you require a specific amount in reserves prior to approving a loan?

A: No, we do not require a set amount of funds to approve a transaction; however you may be approved for a lower funding amount than originally requested. We want to be sure we are not setting the borrower up for failure by approving them for loans they simply cannot afford.

Q: Do my reserves need to be seasoned?

A: No, we are not concerned with where your reserves came from, however if your reserves are a result of a personal loan from a friend or family member we would want to be made aware of the situation.

Q: Do you require an appraisal?

A: Yes, we do require an appraisal and/or a broker price opinion. This must be ordered in house prior to closing. Previous appraisals will not be accepted. The appraisal/BPO is an expense to the client.

Q: Will you accept a recent appraisal, broker values or recent comps when evaluating a property?

A: Absolutely not. We can look at comps or broker values when doing an initial evaluation of the project to help the client decide if it is a logical project, however the final loan amount will be based off an appraisal/BPO ordered in house.

Q: Do you take depreciation into account?

A: Yes we absolutely take depreciation into account.

Q: Are there properties you will recommend not purchasing, even if they meet the loan parameters?

A: Yes, we see this all the time. There are plenty of properties that could fit within the loan parameters, however may be on the risky side. The decision to move forward in purchasing the property is solely the client’s decision; however we are here to help assist the client in make a good decision.

Q: Do you report this loan to the credit reporting agencies?

A: No, we do not report to the credit agencies. Only if a loan was to default and we had to foreclose, then yes, the foreclosure would report to the credit agencies and pursue the collection procedures. Remember; our capital investor lenders depend on our ability to produce returns. If the borrower fails, we fail.

Q: Do you do construction loans?

A: No, we do not fund construction loans at this time.

Q: Can I flip a house without rehabbing it first?

A: Absolutely yes! This is where the purchase only funding comes into play. In most cases out clients will already have end buyers lined up!

Q: If I just purchase a property, are you able to lend only the rehab needed?

A: Yes, if the property was just purchased using cash (no liens), then we can complete a cash out loan to the client for rehab needed. In this scenario we can only lend the client up to 60% of their purchase price.

For example, if a client were to pay $10,000 to purchase a property yesterday, we cannot turn around and let that client $50,000 for repairs needed. In some cases we may be able to provide 65% of the borrowers purchase price, plus additional rehab funds.

Q: Can you take second lien position?

A: No we cannot take second lien position ever on a property.

Q: Do you charge a pre-payment penalty?

A: No, we do not charge a pre-payment penalty. We encourage a quick flip.

Q: Can I close under my LLC, trust or corporation?

A: Yes the client can close under an LLC, trust or corporation however they must be 100% owner and the client will still be the personal guarantor on the loan. If the borrower is not 100% owner of the LLC, trust or corporation, the partner(s) must sign as well.

Q: Are you able to close under the business name of a company I am part owner of?

A: Yes, however the other part owners would also be guarantors on the loan.

Q: Can I occupy my investment property until I am able to refinance or sell it?

A: No. We only lend for non-owner occupied properties. If we did find out the client is occupying the property, it could cause the note to be called due and payable immediately.

Q: Can a renter occupy my property until I am able to refinance or sell it?

A: Yes a renter can occupy the property.

Q: Are your loans recourse or non-recourse?

A: Our loans are all full recourse loans.

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