FAQ
What is a point?
A “Point” is a fee on a loan that is incurred at the time of funding. A point is equivalent to 1% of the total loan amount.
What are some advantages of using Strongco Holdings?
Strongco Holdings places a strong emphasis on its reputation for reliability. Our valued borrowers are assured that the terms offered at the outset of the process remain consistent throughout funding.
Are there minimum credit requirements to obtain a loan?
Strongco Holdings operates as an asset-based lending program, wherein our lending decisions are based on the assessed value of the asset, rather than solely relying on the borrower’s creditworthiness.
Why do real estate investors use hard money loans?
Real estate investors frequently opt for hard money loans due to their notable advantages in terms of speed, increased leverage, and enhanced flexibility. Meanwhile, borrowers often choose Strongco Holdings for the same aforementioned reasons, coupled with our unwavering commitment to focus and dependability – providing a reliable source of capital you can trust!
How do you determine max loan amount?
Loans are typically underwritten to a max loan amount of 75% of the After Repair Value (ARV). If the property is worth $200,000.00 when it is fixed up, then the max loan will be $150,000.00 ($200,000.00 x 75%).