Hard Money Loans With No Money Down | No Down Payment

No Money Down Hard Money Lenders

Are you searching for “No Money Down Hard Money Lenders” in Phoenix or Scottsdale, Arizona? If so, Brad Loans by eMortgage can help!

We offer 100% Loan To Value Loans W/ No Down Payment Using Cross Collateral!

Hard money loans with no money down or no down payment are available by using cross collateral. What is cross collateral? Cross collateral is where you (the hard money loan borrower) uses collateral as a form of security to the hard money loan provider. For example, lets say you want to purchase a property for $100,000. Usually you would have to make a down payment of 30% (Investor) or as low as 20% (Owner Occupied). For this scenario lets say you don’t have the money for the down payment or you want to use the money for renovations etc. Instead of a down payment, you can use equity as cross collateral.

No Down Payments On Hard Money Loans With Equity

Having equity (property, money, collateral) is the only way to avoid paying a down payment on your hard money loan. For example: If you own another property that is worth $80,000 free and clear, you actually have $80,000 worth of equity. In this case Brad Loans would be able to loan you up to 100% of the property purchase price with no down payment and no money down. Brad simply uses the property that you already own (your positive equity) and the property you are buying as collateral. You are basically putting your equity up as security for the loan provider instead of putting down a cash payment.

Any Additional Fees For Using Equity Instead Of A Down Payment?

Brad loans charges an additional fee of $975 for hard money loan borrowers who choose to put up equity instead of providing a cash down payment. What if I have bad credit, will you need a down payment then? No, as long as the borrower can provide sufficient collateral to cover the full value of the loan, you can still get a hard money loan with no money down.

Would you like to see if you can qualify for a hard money loans with no cash down? Have you had foreclosures in the past? Are you not a US citizen yet? Discharged bankruptcy? Short Sale? Have Bad Credit? No problem!! Brad Loans by eMortgage is a bad credit or no credit hard money mortgage lender.

How To Qualify For A Hard Money Loan W/ No Down Payment?

Loans For Owner-Occupants:

In you need hard money for a home you intend to live in, Brad can help! Here are the minimum requirement for owner occupied:

  • 20% minimum cash down payment or equal collateral
  • Cash fees for closing costs, loan fees, and prepaids
  • Refinance, equity of 35% or more required
  • Proof of income showing that less than 45% of your income before taxes will be used towards your Brad Loans payment, car payments, credit card or student loan payments.
  • Statements from your bank showing that you have the funds available for loan fees, down payment, third party closing costs etc. Also, a copy of 401(k) or IRA statements.
  • 30 days worth of paystubs, 2 years worth of tax returns, and W2’s/1099’s, or 2 years worth of bank statements as a replacement for the tax returns.
  • Must have a 45% or less debt to income ratio.
  • Valid US or Foreign ID
  • Copy of purchase contract for the residence you are purchasing
  • Title and appraisal report (ordered by us)
  • How long does it take before I get my hard money loan funded? 7-10 day funding from the date of the original application.

Regardless of credit issues you will most likely qualify for a Brad Loan if you can prove adequate income and have the down payment!

It’s just that simple.

Loans For Investors:

  • Loans for investors require a down payment of 30% or more for a purchase up to 70% loan to purchase price, or after repair
  • Cash fees for closing costs, loan fees, and prepaids
  • Refinance, equity of 35% or more
  • Show proof that you have working capital funds
  • Up to 100% Loan to Value of Purchase price when using a 2nd Free & Clear property for additional collateral (cross-collateralization)
  • Statements from your bank showing that you have the funds available for loan fees, down payment, third party closing costs etc. Also, a copy of 401(k) or IRA statements.
  • Copy of lease(s) if applicable
  • Copy of purchase contract for the residence you are purchasing
  • Valid US or Foreign ID
  • Appraisal and title report (ordered by eMortgage Inc.)
  • Title and appraisal report (ordered by us)
  • How long does it take before I get my hard money loan funded? 3-5 day funding from the date of the original application.

Fill Out Our Hard Money Loan Application

Review: “Brad Loans is the way to go. Easy – FAST and Friendly. I have taken 2 home loans out with Brad and both experiences were wonderful. Thank you Brad and Amber!” Desert Wide Properties.

To see if you quality for a hard money loan with no down payment in Phoenix or Scottsdale, call 602-999-9499 or fill out our 5 minute, simple ONLINE LOAN APPLICATION to get approved for a Brad Loan today

Summary
Hard Money Lending Services
User Rating
5 based on 2 votes
Service Type
Hard Money Lending Services
Provider Name
Brad Loans by eMortgage Inc,
7522 E McDonald Dr,Scottsdale,AZ-85250,
Telephone No.602-999-9499
Area
Phoenix
Description
Are you searching for “No Money Down Hard Money Lenders” in Phoenix or Scottsdale, Arizona? If so, Brad Loans by eMortgage can help!
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