Hard Equity Loans

A Hard Equity Loan or PMM, Private Money Mortgage is a loan that is based solely on equity in the property. PMM’s are only available on NON-OWNER OCCUPIED properties/Investment Properties. Most PMM’s go up to 75% LTV and is at a higher rate of interest. It is held privately by either a corporation, LLC, or private individual lending their own money. There is no MI, terms are shorter and rates are higher. Points are usually charged on these loans, but there is very little qualifying factors for these loans and they generally close within 2-14 days. These mortgages are rarely reported to the credit bureaus. No Income, No docs are usually required for this loan. If you need something fast, and short term, with very little scrutiny, this is the best loan for you. It can always be refinanced later within 2-3 years with no penalties. PMM’s are available for both Residential Rental Property or Commercial Properties.

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