Borrower
How does it work?
Create a free account by simply answering a few questions regarding your borrowing needs, and our platform's alogythm will automatically match you with suitable lenders. Lenders then review your request, and those that are interested will reach out. You will receive an email with such interest, and then you communicate directly with those lenders on the platform. Each interested lender conducts their own due dilligence by speaking with you and gathering additional information as needed to determine if they will fund your loan request. You choose which lender's offer best suits your needs.
How it works:
Step 1: Our team reviews your information
Step 2: Once approved by our team your information is uploaded on the platform.
Step 3: Lenders that match with your loan request are notified and those interested will respond.
Step 4: You will be notified by email with those that are interested.
Step 5: You then communicate directly with lenders on platform or outside the platform.
What is the typical time frame to connect with lenders?
Response time can vary based on your loan request. Typically a response can be anywhere from a few minutes to an few hours depending on the time of day the information is recieved. You can typically expect more connections to take place over the following few business days.
What is the cost to connect with lenders?
It is 100% free. There are no costs to the borrower associated with using all the functions and features of the platform. You will never be asked for a credit card or any other form of payment information.
A: Is my contact information secure? B: Do you share my information with others?
A: We take your privacy very seriously. Your information is 100% secure and encrypted on our website.
B: We only share the informaion you provided with lenders that match your borrowing criteria.
What information is required to submit my loan request to the platform?
In order to make a loan request you will be required to submit the following information:
A: Loan amount
B: Property value
C: State property is located on
D. Your appox credt score
E. Your real estate investing experience
F. Brief summary of project
G. Your name, email and phone number
Can I cancel my request at any time?
Yes, you can cancel your request at any time for any reason. If you have selected a lender or have decided you no longer want to connect to lenders, you can click the suspend application button when viewing your application. Suspending an application means that no new lenders can connect to the application. You are also able to re-open and or adjust your request crieria at any time, if you change your mind.
Are the lenders vetted and guaranteed?
We do not guarantee or thoroughly vet the lenders on our platform other than a basic screening of their website, contact information, etc. Before doing business with any lender, you must do all necessary due diligence and research. We highly recommend you seek professional legal and financial counsel before conducting any transactions.
Does this platform assist with the actual loan process?
No. This platform simply connects you with lenders that match your borrowing criteria. After you've done your research and decided on a lender and they agreed to help you with your loan request, you must contact them directly to begin their due diligence to see if they can offer you loan terms.
How do I know when a lender connects to my request?
When you login to the platform you can see which lenders matched with your request. You will also receive an email notification whenever a lender sends you a message. You can disable these notifications if you want. Lenders may also contact you directly.
If we have any additional questions or need assistance who can I ask?
Please feel reach out to us by phone or through the Contact Us form tab located on homepage.
Lender
What is the fee to be listed on the platform?
There is no cost to join. It is 100% free to have your company listed on the platform. To actually become a verified lender and match with borrowers, we offer two membership tiers, Silver and Gold. The Silver membership is $195 per month and the Gold membership is $295 per month.
How does it work?
1. Joining the platform is free. We also offer several tiers on membership that allows you to connect with borrowers (please call or email us to discuss)
2. Submit your company info. on Lender Information page: a) general infomation about your company b) your lending criteria c) once approved you will be on platform.
3. You will be notified in real time by email or by logging-in to your account on the platform when your lending criteria matches that of borrower.
4. Review the loan requests that you have matched-up with, and if you decide that you want to further discuss the loan request, then at your discression you may contact the borrower directly to conduct further due dilligence.
5. Contact the borrowers directly to further discuss the deal points or communicate with borrowers through the platform.
How do we add our company to the platform?
Adding your company is quick and easy and should only take a few minutes. Please complete this form and we will contact you once it is approved. The information you enter is used to match your company to borrowers.
What does it cost to connect with borrowers on the platform?
The platform uses a token system in order to connect with borrowers. Each connection between a lender and an applicant will cost five tokens. As of right now, the price-per-token $10. Tokens can be purchased in any amount, at any time.
Can I view borrower's lending request before I pay to connect?
Yes. You will receive an email as soon as an application is a match for your company. The email will contain all of the application information, excluding any contact information. This includes the loan amount, property value, State, approximate credit score, amount of real estate deal transacted, type of property, email, phone number as available, and a brief summary of the investment project. You can also view the entire application directly on the platform. If you then desire to connect, with the borrower, you can proceed to do so.
What will our company receive if we decide to connect with a borrower?
Once you connect to a borrower you will receive:
1: you can immediately message back and forth with the applicant directly through our platform.
2: You also receive the applicant's name, email address, and a phone number if they provided one.
3: The applicant is also sent your company's contact information.
Are there any current promotions to signing up?
Yes, there is a 10% discount when prepaying for a year membership on our premier and platimum membership tiers.
What is the criteria of matching borrowers with our lenders?
Lenders set their speciifc lending perameters. We then match lenders with borrowers that match that respective criteria. Lenders state their lending criteria based on these and additional perameters as desired. 1) State where property is located. 2) Loan amount. 3) Loan to value ratio. 4) Required credit score range. 5) Required deal experience. Etc
Does the platform help with the actual loan process?
No. Our aim is to simply match lenders and borrowers. Once you connect with a borrower, all loan negotiations and the lending processes are handled directly with you and the borrower.
If we have any additional questions or need assistance who can we ask?
Reach out to us through the Contact Us form on homepage of platform.
What is the benefit of joining the platform?
Hard Money Bids is the premier real estate platform for matching lenders and borrowers. We deliver results. We utilize the most advanced technology to match lenders and borrowers in a easy to use environment. We realize that time is of the essence, as such you receive real time notifications as soon as a borrower's request matches with your lending critieria.
