Pricing and Guidelines
Montegra believes in fair pricing. Typically, hard money loans are expensive; however, Montegra strives to offer lower rates and higher loan-to-value (LTV) ratios to create an affordable alternative to conventional financing from banks and institutional lenders. Montegra’s goal is to be able to help borrowers whose loan requests require flexibility and creativity that traditional lenders are unable to offer. If you are purchasing a Colorado commercial or non-owner-occupied residential property, check out Montegra’s Smart Buyer Loan Program to see if it can unlock additional capital for your project.
Hard Money Loan Rates
- Income-Producing Property Loans: 9.5% to 10.75%
- Land Acquisition Loans: 10.5% to 11.5%
- Loan Fees: 2% to 3%
Non-recourse loans and other nontraditional loans may have higher interest rates.
Hard Money Loan Terms
- Loan Amount: $250,000 to $5,000,000
- Loan Terms: 6 months to 3 years
- LTV ratio for income-producing properties: Up to 65%
- LTV ratio for commercial land with entitlements: Up to 60%
Montegra only underwrites first mortgages. All of Montegra’s loans are payable interest only without amortization. Additionally, Montegra offers flexible prepayment terms and loan renewal options. And, unlike banks, Montegra does not require secondary sources of repayment.
Areas that Montegra Serves
- Denver metro area
- Fort Collins and Loveland
- Aspen, Vail, and other Colorado ski resorts
Hard Money Loans Montegra Can Fund
- Loans on income-producing properties with high vacancy rates and non-stabilized rents
- Loans on income-producing properties that need to close quickly
- Distressed income-producing properties in need of improvements
- Loans for borrowers with below-average credit scores
- Loans on non-owner-occupied single-family residential properties
- Loans to foreign nationals or borrowers without green cards
- Non-recourse loans (on a case-by-case basis)
- Land acquisition loans (with a substantial down payment)
- Commercial or investment-purpose residential loans that are outside-the-box for banks and traditional lenders.
Hard Money Loans Montegra Can’t Fund
- Second-position or mezzanine loans
- Construction loans or loans to develop infrastructure
- Loans secured by owner-occupied residential property
- Loans on farms and ranches
Montegra does not prohibit our borrowers from securing second-position or mezzanine loans behind our first-position mortgage.
- Montegra Capital Resources has more than 45 years of private capital lending experience in the hard money lending market.
- Montegra is a direct private lender, not a loan broker. Our lenders control the funds and make the decisions.
- Borrowers deal directly with the decision maker, not a middle man reporting to a loan committee.
- Montegra offers minimal red tape.
- Loan decisions are made within 24 hours of receipt of loan application materials.
- Montegra can close loans in 30 days or less.