What We Do Loans FAQ Contact Us Blog Now Hiring Borrower’S Corner FREQUENTLY ASKED QUESTIONS HARD MONEY What is a Hard Money Loan? Why would a borrower use a Hard Money Loan? How do I get preapproved for hard money? What is the term of the loan for hard Money? How does a borrower get a rehab loan once they have found a property? What type of properties does Sherman Bridge loan on? What are the requirements to qualify for a hard money loan? Where do you loan hard money? Do you require inspections? How long does a hard money loan take to close? How do we determine our loan amount? How do I request a draw? How are draw funds dispersed? How does Sherman Bridge know the work has been completed? Does Sherman Bridge lend to self-employed borrowers? What is the largest factor in qualifying for a loan? What is the minimum loan amount? What is the minimum credit score to obtain a Portfolio or hard money loan? Will credit issues prevent a borrower from qualifying for a loan? What would prevent a buyer from qualifying for a loan? Is an LLC needed for a hard money or portfolio loan? Does a borrower have to go to a title company to close? Does a borrower have to take a draw on a loan? What are the fees associated with a hard money loan? What are the advantages of using hard money versus conventional financing or cash? Will bank statements and financial documents always be required? What is leverage? How do you determine how much leverage using hard money will give me? What criteria are used to qualify a property for hard money? Can a borrower use hard money to purchase a property for the land and build a new home on it? LANDLORD LOANS What is a Landlord loan? What is the minimum loan amount on a landlord loan? What is the minimum credit score to qualify for a landlord loan? Does a borrower have to go to a title company to close? APPRAISALS What is an appraisal? Who does the appraisal? What factors go into determining the price/value of a property projected after repairs? Who sees the appraisal? How accurate are appraisals? What is the difference between an “as-is” appraisal and a “subject-to-repairs” appraisal? How will an appraisal affect a hard money loan? BROKERS What is a broker, and what do they do? Who can be a broker with Sherman Bridge? I don't have a lot of money. Is there a minimum requirement of assets to become a broker? What if I would rather handle the work myself? Is there a maximum amount on the loans you offer? Can a real estate agent be a broker with your program? Why should I be a broker with Sherman Bridge? How do I become a broker with Sherman Bridge? I want to become a broker with your program, but don't want to handle a lot of the work. Can I still do it? How do you pay your brokers? Do you have any restrictions regarding the properties your brokers work with? SEE YOUR RATE IN 30 SECONDS Get Started About Us Privacy Contact Us Now Hiring General Information Disclosure (866) 376-4876 Copyright 2021 | All Rights Reserved. Sherman Bridge Fund, LLC. operates via NMLS ID 1303151 Special End Of Year Savings! RATES AS LOW AS 8.99% For a limited time get our best rates of the year on the Easy90 and Simple70 fix-and-flip loans. Explore Easy90 Explore Simple70