Remington Financial Group, Inc. - Hard Money

Since 1993, Remington Financial Group, Inc. (RFG) has had a successful history of securing hard money capital and financial services to sophisticated real estate owners and developers nationwide.

RFG specializes in hard money loans, a higher-risk loan, which is usually based on the quick-sale value of a property. Hard money loans are often issued for financially distressed properties that carry greater risks that most conventional banks are not willing to absorb. RFG issues hard money loans in cases where there is sufficient collateral and a promising business or financial plan.

Securing financing for transactions starting at $1 million and moving upward, RFG offers an extensive network of private and public lending partners, dramatically improving successful close rates for borrowers in need of a fast closing loan. With a successful track record of closing hard money transactions, Remington delivers expertise and competitive transaction options, even in challenging market conditions.

Hard money loans may be issued for any range of non-traditional properties or non-traditional borrowers - including property owners who may have missed a mortgage payment or real estate developers that are looking for immediate action.

RFG is interested in securing financing for companies that operate in expanding market sectors, such as manufacturing, resource development and service providers. Remington will consider securing financing on a diverse variety of commercial properties, including mixed-use, apartment buildings, assisted care facilities, business investment capital, corporate loans, real estate, special purpose properties (such as car washes), construction loans, hotels, land development, retail, office or industrial properties.

Remington Financial Group, Inc. - What is Hard Money?

A hard money loan is easily recognized by some distinguishing characteristics, most notably its ability to close quickly. Although a hard money loan typically carries a lower loan to value and more costly rates and fees, borrowers continually turn to this unique loan because most times it can move from start to close in 30 short days.

Loans often times must close quickly for any number of reasons. Sometimes the timing is a requirement to take advantage of a good price on a commercial property. Other times borrowers must meet fast closing dates in order to avoid foreclosure. Regardless of the reason, hard money is a viable and valuable loan type.

It's also important for brokers to understand that a typical hard money loan does not have a pre-payment penalty associated with it. So, if the borrower is in a position to repay the loan early the lender will not impose an extra fee.

Remington Financial Group, Inc. - How Hard Money Helps Brokers?

In the course of a commercial broker's career, the need for a hard money loan will most definitely arise. By forging a solid relationship with a hard money source, a broker has a resource to serve clients in need of a fast-closing loan.

Remington Financial Group, Inc. - Funding Process