How to Qualify For a Hard Money Loan

Would you like to know more about how to qualify for, or get a hard money loan? Have you had a Foreclosure? Are you a Non-US Citizen? Discharged Bankruptcy? Short Sale?  No “Established Credit”… No Problem! Brad is Arizona’s premier ‘no credit’ or ‘bad credit’ mortgage lender!

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Hard Money Loan Programs Phoenix
Hard Money Loan Application Phoenix Arizona

Easy Loan Borrower Qualifications

NO PREPAYMENT PENALTY!

Loans For Owner-Occupants:

If you need a loan for a residence you intend to occupy, Brad Loans can help! Minimum requirements for owner-occupied loans includes:

  • Minimum 20% cash down payment for a purchase
  • In addition, you will need cash required for loan fees, closing costs, and prepaids
  • Refinance, equity of 35% or more required
  • Proof of income showing less than 45% of your gross income (before taxes) will go toward your proposed BRADLOAN payment, existing car payments, student loan or credit card payments.
  • Bank statement showing funds available for down payment, loan fees and third party closing costs. Copy of IRA or 401(k) statements if applicable
  • Proof of income: 30 days of paystubs, last two years federal tax returns and W-2’s or 1099’s, OR 24 months of bank statements (instead of tax returns), where we will average 24 months of deposits to determine average monthly income
  • Debt to income ratio must be below 45%
  • Copy of Purchase Contract assuming a purchase
  • Valid ID (US or Foreign)
  • Appraisal and title report (ordered by eMortgage Inc.)
  • Loans can be funded as soon as 7 to 10 days from 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:

  • 30% cash DOWN PAYMENT or more for a purchase (Up to 70% Loan to Purchase Price or After Repair Value)
  • In addition, you will need cash required for loan fees, closing costs and prepaids
  • Refinance, equity of 35% or more
  • Proof of working capital funds
  • Up to 100% Loan to Value of Purchase price when using a 2nd Free & Clear property for additional collateral (cross-collateralization)
  • Bank statement showing down payment funds and other available working capital. Copy of IRA or 401(k) statements if applicable
  • Copy of lease(s) if applicable
  • Copy of Purchase Contract
  • Valid ID (US or Foreign)
  • Appraisal and title report (ordered by eMortgage Inc.)
  • Loans can be funded as soon as 3 to 5 days from application

 

Call 480.948.0880 or fill out our 5 minute, simple ONLINE LOAN APPLICATION to get approved for a Brad Loan today!

Click Here To Apply

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