Non-Prime and/or Subprime is a term for loan types that do not fit into the restraints of government lending 
standards known as Prime, Agency, or A-Paper Lending and defined as Qualified Mortgages.
Subprime loans also known as temporary or fixer loans, for borrowers who are on their way to Prime but need a little help before they qualify. Subprime loans characteristically are made to borrowers who have had a past credit event or events in the form of Foreclosure(s), Bankruptcy(ies), Short Sale(s), late payment(s), collection(s), charge-off(s), etc. Additionally a borrower seeking a Subprime loan can use alternative documentation to qualify in form of Bank Statements, Liquid assets, and other forms of income not typically accepted by government lending criteria. Subprime loans usually have increased rates of interest and costs for providing access to capital while providing the ability to participate in the economy and housing market. Subprime loans should only be looked at as a temporary solution to an immediate need.
At HBS Finance we realize not everyone has perfect credit and we understand life happens. Additionally not everyone can document their income in the narrow definition that government loans allow. HBS Finance allows borrowers with a rougher than usual credit history to qualify for loans with terms that are fair and meet government lending criteria for Ability-to-Repay and government fee limitations.
HBS Finance provides a wide range of financing alternatives, including Bridge Loans, Construction Loans, Rehab Loans and Hard Money Loans (non-conventional, non-credit based loans for borrowers with poor credit, or in foreclosure or bankruptcy).
These real estate secured loans are designed to provide solution to borrowers who require a more creative, flexible and aggressive approach to funding; are unable to obtain funding through a conventional source. We recognize the importance of service, and that loans must be structured around each borrower’s unique set of financial circumstances.
The amount or size of the loan and loan term are determined based on quality of the property, location of the property and credit worthiness of the borrower. Even tough the borrower’s credit is considered but it is not the most important factor; typically, the loan qualification is based mostly on the collateral value.
BRIDGE LOANS – Perfect Short Term Tool
HBS Finance offers borrowers an immediate financing alternative for short-term needs. We are able to quickly underwrite situations where a complex/distressed ownership or special circumstance real estate transaction presents an urgent capital need requiring a timely response often times to capitalize on a marketplace or economic advantage.
– Purchase, Refinance or Cash-out Refinance
– Commercial, Multifamily, Non-owner Residential
– Financing in the name of Corporations, LLC or Trust
– No Prepayment Penalty Option
Highlights of Program
– From 7.99% depending upon the Collateral and Loan Structure
– LTV up to 65%
– Loan Terms 1-5 Years
– Fully Amortized or Interest Only
– No Prepayment Penalty Option
– No Credit Requirements
HBS Finance offers short term, interim, fix and flip financing with flexible terms designed to fit the unique needs of investors who are purchasing distressed properties; foreclosures, short sales and real-estate-owned (REOs) or bank-owned.
The amount or size of the loan and loan term are determined based on quality of the property, location of the property and credit worthiness of the borrower. Even tough the borrower’s credit is considered but it is not the most important factor; typically, the loan qualification is based mostly on the collateral value.
Highlights of Program
– From 7.99% depending upon the Collateral and Loan Structure
– LTV up to 65%
– Loan Terms up to 12 months
– Reserves 50% of rehab costs and 6 months payments
– All rehab work must be fully completed within 90 days of funding
HBS Finance has been helping people with construction loans. We realize it’s about more than interest rates. It’s about helping you build the home of your dreams. Our dedicated loan officers are here to help you with the loan process every step of the way.
Highlights of Program
– Loan Amounts up to $10,000,000
– Competitive Rates and Terms
– Construction to Permanent Financing Available
Unfinished and unoccupied Residential and Commercial Projects
– Loan Amounts up to $5,000,000
– LTV up to 65%
– Loan Terms up to 12 months
– Completion Budget Fully Funded
– Flexible draw schedule
Let us put our experience and expertise to work for you. Call us (310) 356-6500