General Loan Terms of Our Hard Money Lending Company
DeNovus Capital offers loans of $50,000 and up for first and second mortgages. Within a closing time of 5 to 10 days, you can expect your application to be approved!
If you have a loan-to-value (LTV) rating of 70% to 75% and have accumulated 1 to 4 points, you are in a favorable position for getting an approved hard money loan application. Financial Brokers Near Me can help you navigate the process efficiently. The interest rate (APR) of our loan program ranges from 8.95% to 14.95% and should be paid within 6 to 24 months. Points and rate will be based on LTV. The lower your LTV is, the better the terms of the agreement will be for you.
DeNovus Capital is a collateral-based lender. This means that when you apply for a loan, no tax returns or personal guarantee is required. However, please note that our loan programs are only offered to non-owner-occupied property owners. We employ cross-collateralization, which means that the collateral used for one loan can also be utilized as a collateral for another loan you may wish to apply for.