Montegra Capital is a direct Colorado hard money lender. We act as General Partner of a large Limited Partnership whose sole purpose is to provide private capital for us to invest in hard money commercial real estate loans and investment purpose residential loans. We have the money and we make the decisions.
Why Hard Money Loan Brokers Choose Montegra
We have been working closely with hard money brokers in Denver for over 41 years.
Our hard money loan rates are at the low end of the private capital loan rate spectrum. Our current rates on improved properties fall between 9.25% and 11.25% (payable interest only) with 2 to 3 year terms. Renewal options are available.
Montegra puts everything in writing – we always include the loan broker’s fee in our Term Sheets and Commitment Letters. This way you know for certain that your fee will be paid at loan closing and your borrower knows for certain the exact terms and costs of our loan.
When you broker a hard money loan with Montegra, you always deal with the decision maker. We have no loan committees or red tape. We typically provide a term sheet within 24 hours of getting the loan application and can close in 2 to 4 weeks from starting work on your loan. We do not exaggerate what we can do; we always do what we say.
We are an asset based lender – not a credit based lender. The quality of the property and the loan to value ratio are the basis for our go/no go decision.
We use “fair market value” appraisals – not “quick sale value” appraisals. This means more funds are available for your client.
Our loan size range is between $200,000 and $2,500,000. First mortgage loans only – we do not fund second position loans.
Our loan fees are between 2% to 4%. We will collect your fee (paid by borrower) and pay it to you at closing.
We underwrite loans up to 75% of appraised value on income properties and up to 60% of appraised value on commercial land (zoned with entitlements).
Working with mortgage brokers is the heart of our business. Call Bob Amter or Kim Skari at (303) 377-4181, send us an email, or apply online to learn how we can assist you close your client’s loan in the fastest and easiest possible way.
