We've created a list of a few questions we get from our clients:

What steps do I take to obtain a hard-money loan?

Begin the application process by clicking “Apply Now” at the bottom of the page.

What is hard money loan?

A hard money loan is a type of asset-based loan financing through which a borrower receives funds secured by real property.

How do I qualify for a hard money loan?

Call or Email Duke Allen & Company with your deal. We will be able to give you a firm idea of whether or not the deal is able to be completed within a matter of minutes. Our goal is to fund your loan. We pride ourselves on making your real-estate dreams become a reality.

Why do you charge more then banks?

Because we are a private lender we provide funds for projects that banks won’t fund. In addition, we offer much shorter terms than the bank, so our rates need to be higher.

How quickly can we close?

Our goal is to fund in 10 business days or less!

What is the time frame for the loan you provide?

We specialize in short term loans, generally for a term of 12 months. We know, however, that some larger projects can take longer, so we offer renewals at the end of the 12 month term if needed.

What type of investor use hard money?

All types – from new investors to very experienced investors, and from those buying rentals to those buying properties to flip. Anyone wanting to use leverage and put less of their own money down on a purchase uses hard money.

What is the minimum loan amount? What is the maximum loan amount?

We fund projects from $50,000 all the way up to $20,000,000.

What are the advantages of using hard money?

• Simple qualification process

• Fast Closing

• Allows for multiple deals

• Leverages your money almost 3 to 1 verses conventional or bank financing

How quick can you fund?

Once the appraisal is back, funding can occur in approximately 5-7 days. We offer a variety of draw schedules for renovation projects.

Why use Duke Allen & Co for your hard money loan?

We deliver speed, certainty and clarity with every client. Speed in processing your application to closing your transaction. Certainty in knowing the value of your property with a certified appraisal, and clarity in knowing all your costs before you get to closing.

I would like to fund a project for my personal residence. Do you provide funding for personal renovations or new constructions?

No. Duke Allen works with investment-level projects only.

I have been turned down by my bank, can Duke Allen help me?

Yes! Because we are a private lender we are not bound by the restrictions of a traditional lending process. We make our own decisions in-house based on a number of factors, including the potential value of the project when completed.

What is LTV and what is ARV?

LTV is Loan to Value. It is a ratio of the value of the property in relation to the loan amount. ARV is After Repair Value and it is one of the ways that Duke Allen is preferable to traditional lending. Because we loan based on the value of the improved or newly constructed property, you are able to tap into the full equity value of the completed project.

Do you only fund new construction?

Yes we do!

What is a hard money or private lender?

Private real estate lending is a financing option that helps you fund your real estate investment-level projects without the extended timeframe and process requirements of the traditional loan process.

Because Duke Allen specializes in financing for real estate projects, we understand the unique needs of our investor clients. We offer short-term financing, quick turnaround, and a variety of loan products to meet the unique needs of real estate investors. For more information on the way private lending can help you in your business, check out our blog.