NATIONAL NOTE BUYERS exists to help and inform all who need to know about mortgage notes and trust deeds, both residential and commercial. We help individuals or companies create, sell, understand notes. We are investors and do not lend money but purchase cash flows. We are determined not only to make great deals on mortgages and trust deed notes which you are selling or buying, but strive to be a good neighbor. We shape our business decisions to improve the quality of life in the communities where we do business.

HARD MONEY PROGRAMS

GENERAL INFORMATION

Have you ever been turned away by a BANK or other Lender on a project that you felt would stand on its own merits, and you were never able to get the deal funded for whatever reason, the bank or someone else gave you ?

Well this may be your lucky day, our goal is to make the mortgage process a bit easier than most lenders. Why you ask, is this possible? Well its because with HARD MONEY LENDERS the interest rate is often times higher than rates of conventional lenders, and many times the project can be funded in a week or less depending on the loan circumstances and the documentation that is provided to a hard money lender, who sometimes is more liberal in their thinking. Don't get me wrong, if the deal is bad, we cannot turn a bad deal into a good deal no matter what ....

OUR MISSION

The mission of our firm is to serve all of our clients with the highest levels of customer satisfaction, providing price competitive services delivered on time, by our innovative and talented work force and those of our close associates. NATIONAL NOTEBUYERS implements the highest utilization of technology, such as the INTERNET, to offer clients swift and efficient services relating to alternate methods of financing along with the highest standards of integrity and professionalism in every facet of our business operation.

What is hard money?

Recent economic events internationally and on Wall Street have created a sudden shortage of capital to finance many worthwhile commercial real estate transactions. This has resulted in many borrowers seeking financing from lenders with privately raised and administered capital - sometimes called "hard-money lenders."

These lenders fund a wide range of transactions---

from local to national
loans from $500,000.+ to under $100 million
construction loans to refinancing loans
and more

The lenders are very busy and need to review prospective projects quickly and the speedily but carefully price, quote, finalize and close transactions.

List of things to do to apply for a loan with a hard-money lender.

Prepare a short synopsis, not more than two or three pages, which addresses the project and the loan requirements. Along with this send a brief financial analyses, a map, photos information on the borrower, and other supporting documents 6 to 10 pages.
Describe the transaction:
- Type of real estate project
- Location of real estate
- Type of loan
- Loan amount
- Equity available and source
- Term of loan
- Exit strategy
- Amount and types of debt that exist on the property
- Payoff situation
- Description of borrower
- Provide last year's profit and loss statement showing NOI, as well as this year's year-to date profit and loss statement
- Show actual vacancy information clearly, as well as management fees, reserves, for replacement
- Provide a detailed rent roll, (and list each vacancy), list every tenant lease term, rental rate, etc.
- Send a copy of the "Opinion of Value" or "Value Reconciliation" page of the appraisal report
- Include a page or two from the Phase I environmental assessment (including the date, if available. Also the section showing the name of the firm that carried out the study and the date of the report.
- Send a copy of the local town's zoning laws, permits, and other approvals, if project is to-be-built
- A few color photographs, as well as a locator map and a 8 1/2 x 11 site plan
Expect to invest between 15% and 25% in cash (or legitimate equity in the property's value if the property has already been acquired.) You have heard, often enough that there are no more no-cash deals. This is particularly true in the recent economic climate.
You can expect the lender to recognize an appraised value that is significantly higher than the price you have recently paid for a property, if, and only if, you have successfully completed a significant number of bureaucratic accomplishments since the purchase date ( such as obtaining full entitlement), have newly negotiated signed leases, or have physically improved the property and can prove it.

Home loan request application