Hard money lending, also called private lending, is an investment strategy that involves taking a loan backed by real estate as the collateral. 

It is a form of short-term financing where a borrower obtains funds based on the value of the property being used in the loan agreement rather than their credit score or income or tax returns. 

Hard money loans can offer attractive terms to borrowers despite any financial difficulties they may have faced in the past and are becoming increasingly popular among investors looking to capitalize on opportunities in the real estate market.

Gramercy Union can fund real estate loans within 1-2 weeks. As a lender, we always conduct our own due diligence and underwriting. 

Depending on the property, we may need to obtain an inspection as well as both title and lien searches. After that, we create the lender documents. 

The expected timeline can vary, usually taking anywhere from a few hours to a week depending on each individual situation. 

In the event of a rush, our team will do our best to speed up the process so that you get to the closing table on time.

Gramercy Union usually charges between 11% and 14% annual interest on our real estate loans. 

Fees vary depending on the project but typically involve 1-3% origination points. Feel free to contact us to discuss your particular real estate project at (904) 710-6710.

Hard money loans / private loans are almost always short-term (generally 6-12 months).

If you are looking for permanent financing (usually 2-30 years), we can recommend other mortgage professionals whom we have worked with to get you competitive rates.

The hard money loan process usually requires minimal paperwork compared to other financing options and does not generally require to run your credit. 

Borrowers instead post collateral for hard money loans often in the form of real estate assets already owned or that will be purchased. 

Many of our borrowers want to keep the real estate projects they're working on for their rental portfolios. 

We work with local mortgage professionals to help our borrowers find permanent financing at competitive rates.

Gramercy Union requires three (3) months interest on almost all private money / hard money loans.  

Most loans are paid back within a six (6) month time frame. Loans can be extended depending on the circumstance.

When you have a house under contract, please send us the contract along with the following:

1. rehab budget SOW (scope of work)

2. comparative sales

3. exit strategy (what are you planning to do with the house)

4. examples of other projects you've worked on

All loans require the borrowers to have some of their own funds in the project (skin in the game). This can be in the form of cash or other collateral.

Feel free to reach out and let us know the details of your real estate project.

Appraisals are generally NOT needed to fund private loans / hard money loans for real estate.

Gramercy Union offers private money / hard money loans in the Jacksonville, FL area and surrounding counties.

Yes, the principal of Gramercy Union, Glen Friedman, is a licensed mortgage loan originator. 

NMLS #2307023

We primarily fund residential properties, small multi-family properties as well as small commercial properties.

If we can't fund your deal, we can recommend other lenders in the area who we have worked with in the past.