WELCOME TO THE BORROWERS CORNER
Traditional banks usually have many more procedures and lending criteria that make it nearly impossible to borrow money for the purpose of purchasing, rehabbing, and reselling distressed residential properties. Hard money loans are usually short term, and have higher interest rates ( however there are no prepayment penalties so you only get charge interest while you have the loan outstanding ), BUT can close quickly, finance repairs and closing costs when purchasing within 70% loan to after repair value.
The most compelling reason to use a hard money loan is its speed. Our process is very simple and we don’t require tax returns, w2’s, or most of the hoops that banks will make you jump through.
If you are getting an excellent deal that needs to close quickly, a hard money loan could be the perfect solution.
Investors who have a number of outstanding loans are also served well by hard money loans. If you’ve reached your conventional lender’s 10-loan limit, we can help you continue to leverage your real estate investments.
- Simple Qualification Process
- Fast Closing
- Higher Leverage
- Most Wholesalers Only Take Cash Or Hard Money
- Allows For Multiple Deals
- No Experience Required
Qualifying for a hard money loan is simple, and starts by completing the Tidal Loan application. An analysis will be completed and someone will contact you as soon as the next business day.
A direct lender funds transactions from their own private capital. Meaning there isn’t a 3rd party (broker/middleman) involved with your loan transaction, reducing your out of pockets cost. Direct lenders also approve all loans internally allowing for a quick closing. Tidal Loans is a direct lender.
We lend Nationwide in 42 states, except the following states: MN,SD,ND,OR,VT,UT,NV,AZ
We loan on single family, multi-family, and commercial properties that are used for investment purposes.
We do not lend to owner occupied or homestead properties. Therefore you cannot live in the property that we finance. Investment properties, rentals, and properties to be rehabbed to sell (flip) or rent meet our criteria.
We can lend up to 100% of the property purchase price, rehab, points, and closing cost on rehab loans in our tier 1 markets. We can lend up to 70% of the After Repaired Value (ARV) of the property.
Yes. The process begins by obtaining a hard money loan, and once repairs are complete the property will be refinanced into a fixed conventional loan. We will need to get you approved for long term financing. It may have additional requirements and will take an additional 20-45 days to close.
Yes. We utilize SSL (Secure Sockets Layer) for security technology by establishing an encrypted link between our server and your browser. This link ensures that all data passed between the server and browser remains private and secure. SSL is an industry standard and is used by millions of websites to protect their customers.
A broker is a liaison between the lender and the investor/ borrower. They act as the middleman to find funding to the investor/borrower. The broker doesn’t provide funding but instead, has a connection with a sponsoring lender (Tidal Loans) who then originates loan. No license is required, just the ability to refer clients to Tidal Loans.
It’s easy to apply to become a broker. To get started, just email us: broker@www.tidalloans.com or visit the official page for our Broker Program.
https://www.tidalloans.com/broker/
Once the loan has closed the Broker is paid. Payment is provided to the broker and seen on the closing documents, which guarantees timely and accurate payment to our referral partners.
Qualifying for a loan is simple, and starts by completing a free loan quote on our website by clicking HERE. Once received, one of our account executives will contact you as soon as the next business day, if not same day.
If you do not have a deal you will like a loan quote for. Feel free to call our office and ask to speak to one of our account executives about our loan products and a pre-approval letter.
Yes. The process begins by obtaining a hard money loan, and once repairs are complete the property will be refinanced into our DSCR loan.
We understand things happen and occasionally projects may need more time. Tidal Loans offers options to extend loans if necessary, providing flexibility for borrowers in need. Please get with your account executive for further details on extensions. We typically offer additional 3- 6 month extensions.
Our loan terms vary based on project specifics but generally provide 12 month terms for our Bridge products. We also offer longer-term options for DSCR rental properties up to a 30 year fixed rate.
Our draw process allows borrowers to access renovation funds in escrow. This amount is held back in escrow upon closing and funding. Tidal Loans draw process based on reimbursement, meaning the work for that draw request needs to be complete before we wire the funds for that draw request. Once the draw is requested in your borrower portal the inspection will be scheduled and coordinated based on when the work will be complete.
Tidal Loans was built by investors for investors. By having first hand experience investing in real estate (so do our account executives) We provide value to our clients beyond capital by offering insights on market trends, deal structuring, and due diligence assistance.
We do not charge a loan application fee, ensuring a seamless application process for borrowers.
Upon submitting the signed term sheet, you will gain access to your secure portal where you can conveniently upload the necessary documents. Typically, we need the following documents.
Short Term Loans
- Entity Docs 2.Loan Application 3.Bank Statements 4.Purchase Contract 5.Property Insurance 6.Track Record Form 7. Rehab Budget 8.Contractor Profile Form 9.Drivers License
Long Term Loans
- Entity Docs 2.Loan Application 3.Bank Statements 4.Purchase Contract 5.Property Insurance 6.Track Record Form
- Drivers License 8. Verification of Mortgage 9. Proof of Rents ( if leased )10. Lease (if leased )
