We are Hard Money Lender
Frequently Asked Questions
At Equidem, we offer loans known as "Hard Money Loans". These loans are notable for their speed and flexibility compared to traditional methods of financing.
Hard Money Loans have less stringent eligibility criteria compared to conventional loans, meaning that even those borrowers who do not meet traditional requirements still have the opportunity to access financing.
In addition, these loans are backed by real estate assets. This implies that, in the event that the borrower defaults on its obligations, the lender has the option to take possession of the underlying property as collateral.
At Equidem, the minimum amount you can request is $30,000 USD, while the maximum limit is $300,000 USD. It is important to note that the exact amount you will be granted will depend on the value of the collateral you present or the final sale price of the investment property you wish to purchase.
Yes, you can! At Equidem, we accept loan applications from foreigners without residency. You only need to present a valid passport or consular ID, and have an asset to use as collateral. Start your process with us and get the loan you need.
Yes, we currently provide loans only for the states of Georgia, Florida, Tennessee and North Carolina.
Yes, at Equidem we do not require a credit SCORE to start the loan application process. This means you can get a home equity loan without having to prove your income. We focus on the value of the property and its potential as collateral, which provides greater flexibility in obtaining financing.
At Equidem, we simplify the loan application process and ask you to complete a form to evaluate the viability of your application. No extensive documentation is required to start the process.
Real estate collateral refers to a type of collateral used in loans or credits, where real estate is offered as security. This means that, in the event of default by the borrower, the lender has the right to take possession of the real estate and use it to recover the amount borrowed.
In summary, real estate collateral involves offering real estate as a backing, which provides greater security to the lender and may allow for more favorable terms in terms of interest rates or loan amounts.
At Equidem, we accept different types of real estate as collateral for our loans. Some examples of properties that can be used as collateral include houses, apartments, commercial properties and land.
It is important to note that in order for a property to be considered as collateral, it must meet the fundamental requirement of being debt free. This means that there must be no liens, mortgages or other encumbrances affecting the property and its ownership.
If you have any of these properties and are interested in using them as collateral for a loan, we will be happy to evaluate your application and provide you with more information about the specific requirements, please do not hesitate to contact us!
No, at Equidem, the real estate used as collateral for the loan must be free of debt, including mortgages. This means that if the property already has an existing mortgage, it will not be eligible to be used as collateral for our loan.
The time it takes for the loan application to be approved will depend on the availability of funds and the time it takes for the closing attorneys to have the documents ready.
The loans we offer include different types of associated expenses. Below, I will mention some of the common expenses:
Closing Costs: These are the costs associated with the completion of the loan and the transfer of the property. They may include legal fees, recording fees, taxes and other associated costs.
Administrative Expenses: These are expenses related to the administration of the loan and may include processing fees, property appraisal, credit check and other related services.
Property Insurance: You may be required to obtain property insurance to protect the property used as collateral. The costs of this insurance will depend on the value of the property and other related factors.
It is important to note that costs may vary depending on the type of loan, geographic location and other specific factors.
Yes, at Equidem you have the option to repay the loan early at any time. In the event of an early repayment, you will only be obligated to pay the interest corresponding to the time elapsed until the repayment date. In addition, it is important to note that in some of our loans, there is no penalty for early repayment.