Commercial Mortgage Plans

Commercial Loan Program

As the largest provider of hard money loans in California, our experience has taught us one thing-no two borrowers are alike. This is why Hard Money Go offers various commercial mortgage loans and programs for all types of borrower’s.

To meet the needs of our diverse clients and organizations we have mortgage programs intended for different purposes.

The needs of each borrower is different and varies based on how much money they need, their monthly budget, the amount of years they need for the loan, and loan preferences they may have.

Below is a list of the various mortgage types and payments a qualified borrower can choose from

Interest Only Payment

If your goal is to save as much money as possible, this is the best program for you. Of all the commercial lending programs we offer, this option is the most popular because it allows borrowers to keep as much money in their pockets as possible.

This is significant to borrowers who need their capital to make repairs on their existing properties, acquire new real estate, or simply want more cash flow. The interest rate for this type of program is slightly higher, however the additional savings puts as much money into the borrower’s hands as possible.

Partially Amortized Payment

This loan program provides the perfect combination of monthly savings and paying the loan off as soon as possible. Unlike an interest only payment, where the payment is simply paying off the interest, a partially amortized payment pays down a small percentage of the actual principal loan amount. Under this program, after every month of continued payments, the loan amount will become lower.

Fully Amortized Payment                             

The fully amortized payment is the fastest method to paying off the loan. This program is ideal for borrowers who have substantial cash flow and want to pay down the loan as soon as possible. Each mortgage payment contributes to paying down the principal and paying the interest on the loan. Because fully amortized payments are higher than other mortgage payments, the interest rate is traditionally lower.

Loan Qualification

Each mortgage program discussed above has different loan qualifications and is based on the relative risk of providing the loan. Our mortgage programs are created with the intent of meeting the needs of various borrowers including those that want the lowest payments, borrowers who want to pay off the loan as soon as possible, or borrowers who need a longer loan term.

Whatever your needs, we have a mortgage program that best fits your current situation. Apply today and see which program you qualify for.

Various Income Guidelines

Our income guidelines vary based on the type of property being lent, the equity of the property and financial situation of the borrower.

Stated Income

Because many hard money loan applicants do not claim their income, Hard Money Go uses an income verification method called stated income. Stated income is where the applicant supplies our firm with the amount of monthly income they make that cannot be proven. For example, many borrowers may not prove their income to reduce tax liabilities or reduce expenses elsewhere. If the borrower has a way to prove their stated income such as receipts, checks or other forms, we will consider the stated income in our approval process.

Base Income

This is the primary process we use when determining borrowers eligibility for a mortgage program. We use all income in our consideration of loan approval. This includes taxable income, profit and losses, pay-stubs, receipts, checks, and other income sources that can be proved. Income may come from an applicant’s business, property, spouse or assets.