Maryland Hard Money Lenders for Real Estate Investors
Here is a list of hard money lenders for residential and commercial real estate in Maryland – Frederick, Rockville, Gaithersburg, Bowie, Annapolis, Baltimore, and other areas. Hard money loans are a great short-term solution for MD property investors who either don’t qualify for a traditional mortgage or just need to close a deal fast. Most hard money loans are 12 months, but some lenders offer a longer term.
Gelt Financial, a direct private lending firm, funded a $250K hard money loan for the purchase of single family residence in Glen Burine, a city close to Baltimore Airport. The Borrower owns a few Chinse buffet restaurants and had a hard time hiring people. So he purchased the property to offer free housing as an incentive for potential employees. He doesn't have credit or enough verifyable income, but he had a 35% cash down payment. We were glad to provide him the financing without an appraisal or income information. The purchase price was $385,000. Our hard money loan was 65% LTV with a loan term of 3 years. A broker presented this deal to us, and we closed in less than 2 weeks. This hard money loan was funded in April 2021.