Philly Hard Money Loans specializes in Fix & Flip and Ground Up Construction loans for: Single Family, Multifamily, Condos, and Commercial Real Estate. PHML also offers Refinancing options to borrowers. Every deal is viewed on a case by case basis.
PHML will fund 85% LTC and 70% ARV, based on an independent third-party appraisal. PHML provides rehab funds to borrowers through a draw process. Borrowers complete a portion of the rehab based on the provided Scope of Work, and are reimbursed after a simple walkthrough inspection is approved.
Our terms are 12 months, interest-only payments, with no prepayment penalties. Our rates are determined by the risk of the deal, the experience and knowledge of the borrower in real estate investing, development, building, and/or contracting, as well as the borrower’s available capital for the deal. Our loans range from $50K to $5 million.