Hard Money Loans

Your DIRECT Hard Money Lender

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Paces Funding – The DIRECT Hard Money Lender

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A true DIRECT hard money lender is a lender who uses their own money to fund your loan which means this gives us the ability to work with you to customize the loan around your circumstances. We specialize in hard money lending, so when you choose to work with us on your project you get a team working with you to help you succeed.

Paces Funding offers many different types of hard money loans to fit the needs of any real estate investor including new construction hard money loans, residential hard money loans, cash out home equity loans, commercial hard money loans, fix and flip hard money loans, rehab hard money loans & hard money loans for real estate investors. Whatever your need, Paces Funding is the Hard Money Lender that can help you accomplish your goals.

Why Choose Paces Funding as your Hard Money Lender?

Explore the benefits of our hard money lending programs, meticulously crafted to address the financial requirements of real estate transactions that demand immediate, convenient, and adaptable solutions for investors. As a premier hard money lender utilizing our own private funds in Georgia, Florida, North Carolina, South Carolina, Tennessee, Texas & Virginia, we take pride in delivering FAST decisions tailored to the unique aspects of your project and specific requirements. Our primary focus is on building a lasting relationship with you, putting your success as the main goal. We firmly believe that our commitment is evident in every deal we make.

Discover the versatility of our hard money loans for suitable for many purposes including commercial projects, residential, new construction, home equity loans, fix-and-flip loans, rehab loans, and real estate investments. Throughout the entire process, from purchasing land to creating construction budgets and hitting project milestones, we remain steadfastly committed to the success of your project.

Fast Turnaround

Asset Based Lender

Competitive Rates

Less Paperwork

We’re all about your success! Think of us as your partners in every project, providing the tools and advice you need to thrive. As the biggest direct hard money lender using our own funds in the Southeast, we make speedy decisions tailored to your project. Everyone we work with gets treated with respect because we’re focused on building relationships, not just making deals.

We care about YOUR success

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OUR LOAN PROCESS

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APPLICATION REVIEW
ADDITIONAL DOCUMENTS
PROCESSING & UNDERWRITING
CLOSING & FUNDING
APPLY
ONLINE

Get started by filling out our easy loan application.

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APPLICATION
REVIEW

Once we receive your completed application, we will review the application and one of our experienced loan officers will call you to discuss any additional information we may need.

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ADDITIONAL
DOCUMENTS

After the Application review, the next step is for you to submit your purchase contract and renovation list. During this step we will also provide you with a Good Faith Estimate to review and approve.

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PROCESSING &
UNDERWRITING

Once the Good Faith Estimate has been approved, we will then order an appraisal and title. Our construction manager will visit the property with the borrower to go over the bid sheet and construction that will be performed on the property.

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CLOSING
& FUNDING

At this time we will set up the closing with our preferred attorney and send over the closing instructions/documents along with the wire to fund the transaction. The borrower is required to provide the necessary property insurance prior to closing.

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Hard Money Lender Loan Terms

Renovate, rehab and resell your property with a hard money loan.

LOW Credit Minimums
NO Prepayment Penalty
Loans to Company or LLC
11% – 14% Interest Rates
Loan fee of 2.75-4.5 Points
Term – 12 Months
$0 Doc Fee
Loans from $25,000 to $20,000,000
Interest only payments
Up to 70% ARV
Lenders Title Policy Required
Close in 2 weeks
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Hard Money Loan FAQ’s

 

How quick can you fund?

We have funded properties as quickly as 1 day. If there are no unusual circumstances (i.e. title issues, all required documents in hand), then the closing can proceed as soon as the appraisal has been completed and title is cleared. Usually this can be accomplished within 1 week to 10 days. You do your best and we will respond in kind.

How quick can you fund?

We have funded properties as quickly as 1 day. If there are no unusual circumstances (i.e. title issues, all required documents in hand), then the closing can proceed as soon as the appraisal has been completed and title is cleared. Usually this can be accomplished within 1 week to 10 days. You do your best and we will respond in kind.

Where do you loan?

We currently lend throughout the Southeast.  Other markets will be added soon. If you have a project in another market, contact us and we’ll discuss if we can lend on it.

Do you make permanent loans?
No, our loans are usually for a 12 month term or less, but we have arranged financing for more than 12 months in certain situations, particularly commercial projects. We do have permanent lending partners that will be able to assist with your long term needs on single family properties.
Why are your rates so much higher than banks?
We are a private lender with private money. We take risks that banks ordinarily would not and therefore charge a higher rate for the use of our funds. You will find that although the funds may cost more, it is less expensive than having a venture partner to finance your project.
Do you make personal loans?

No. We only make loans for commercial, business and investment purposes.

Will you finance commercial properties or apartments?

We will look at multifamily projects from 2 units to 200 and more. Bring us office buildings, retail, industrial, lots to be developed, and new construction.

Will you finance commercial properties or apartments?
We will look at multifamily projects from 2 units to 200 and more. Bring us office buildings, retail, industrial, lots to be developed, and new construction.
Does my credit matter?
Yes, your credit is important to us, but there is no credit score requirement and it is not the most important factor in financing your project. Your ability to repay a loan as required, your investment in the property, the cost of the property and the value after repairs are also considerations in our decision to lend.
I’ve been turned down at banks, is it possible for me to get a loan from Paces Funding?
It is certainly possible. We are a private lender, and as such, are not tied to the myriad of regulations that banks must follow. We underwrite and make our own loans based upon our decisions and understanding of the marketplace and your particular property. Usually if the property is worth it, we will give your loan request serious consideration.
What do LTV and ARV mean?

These are acronyms for loan to value (LTV) – the value of the property in relation to the loan on the property and after-repaired-value (ARV) – the value of the property after all improvements or construction has been completed.

What is a “hard money” loan?
It has been incorrectly described as “hard” to find or “hard” to pay, but typically it is a secured real estate loan for investment purposes. The property is often enhanced via renovations that improve the value. The property is then sold or refinanced. The property provides the security in the event of default by the borrower. We are most interested in creating long term relationships helping good borrowers successfully invest in real estate.

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