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hard money mortgage lenders

Hard Money Lending & Private Mortgage Lending- How it Works

Private Hard Money Lending explained. The first in a series of short videos about hard money investing, borrowing and brokering from Trent ...

Hard-money mortgage lender raises $10M in public offering

The company's stock was trading slightly below $5 per share shortly before noon on Monday.

Sachem originates, underwrites, funds, services and manages loans secured by mortgage liens on non-owner-occupied residential or commercial real estate. These loans are exempt from federal ability-to-repay requirements that owner-occupied, single-family loans are subject to.

Borrowers include real estate investors and developers who use the loans to fund the acquisition, renovation or development of properties. The company's primary underwriting guideline is its loan-to-value ratio.

Sachem's maximum LTV is 70%, according to an investor presentation from late 2018. Residential mortgages comprised an estimated two-thirds of its lending in the past year.

Loan sizes range from $6,000 to $2 million, with the maximum amount not to exceed 10% of a borrower's portfolio. Fixed interest rates range from a discount rate of 5% to 12.5%, with a default rate of 18%. Interest is due monthly with principal payable at maturity. The company does not change prepayment penalties.

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