Portland Hard Money Loans- Fast Real Estate Funding
If you are a real estate investor looking for fast real estate funding with a Portland hard money loan, you are in the right place. IGR Mortgage Services provides hard money loans from $50,000 to $10 million and more. Our diverse portfolio of loan programs is the most extensive under one roof to meet the needs of our clients.
Call IGR Mortgage Services For Your Next Loan
- Closing in days, not weeks
- Limited documentation
- Asset based loans
- Funding $50K to $10 million
- Thirty-plus years lending in Portland
Purchase | Refinance | Cash Out
Foreclosure Bailout | Bankruptcy Discharge
Contact Us About a Hard Money Loan
Features of Hard Money Loans in Portland
IGR Mortgage Services provides Portland hard money loans secured by investment real estate. Unlike conventional bank loans that focus on your credit score and income, hard money loans are primarily based on the value of the property being used as collateral – that’s why they’re called “hard” money loans, as they’re secured by a hard asset. Portland hard money loans are typically used as a “bridge loan” because they offer borrowers a short-term structure to make property improvements, improve credit, complete a remodel, or any number of situations investors encounter.
Typically short-term (6 to 24 months)
Higher interest rates (9- 14% in Oregon)
Based on property value rather than borrower credit
More flexible documentation and requirements
Faster approval and funding process
Often interest-only payments with a balloon payment
Loan to value ratios are typically 65% or less
No fee appraisal in many cases
Focus on exit strategy rather than income and credit
Relationship-based lending decisions
Who Can Use a Hard Money Loan
Hard money loans offer a valuable financing alternative for real estate investors who need speed, flexibility, and asset-based approval. While expensive, these loans can be the perfect tool for many situations:
- Fix and Flip Projects – When you find a distressed property with strong profit potential, hard money loans provide the quick capital needed to purchase and renovate before traditional financing would even be approved.
- Rental Property Acquisitions – Investment properties often require fast action at auctions or in competitive markets. Hard money loans bridge the gap while you secure long-term financing
- Commercial Real Estate Purchases – Business owners can quickly acquire office buildings, retail spaces, or warehouses without waiting months for conventional commercial loans.
- Tax Lien and Foreclosure Opportunities – Investors can capitalize on tax sales, foreclosure auctions, or distressed asset purchases that require immediate payment, often acquiring properties significantly below market value.
- Construction and Development Projects – Developers can secure quick funding for land purchases or construction starts when traditional construction loans are delayed or unavailable, keeping projects on schedule.
- Emergency Capital Needs – When unexpected opportunities or urgent business needs arise – such as equipment failures, lease requirements, or partnership buyouts – hard money loans provide rapid capital to maintain business continuity.
IGR Mortgage Services specializes in providing hard money loans through out the greater Portland area with speed and flexibility, allowing borrowers to act on opportunities that others miss due to financing constraints.
Eligible Properties For Portland Hard Money Loans
Mult Family 5 to 100 Units
Multi-family is housing where multiple units (5+) for residential use are in one or more buildings within a community or complex. We provide funds to investors to purchase or refinance with loan amounts of $100K to $5M.
Mixed Use Properties
Mixed-Use is a project that blends residential and commercial uses into one integrated complex or building. Common loan scenarios are purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take-out.
Commercial - Light Industrial Property
Commercial properties including warehouses, light industrial buildings, storage facilities and more are considered. We provide funds to commercial borrowers to purchase or refinance with loan amounts of $5M or more.
Office, Retail, Strip Malls, Special Use Properties
Commercial loans are available for office, retail and special use properties like C-Stores and bowling alleys. At IGR Mortgage we provide funds to investors and owners to purchase, refinance, bridge to sale or hold and rent.
Self/Mini Storage Properties
Self Storage or Mini-Storage properties that rent spaces to individuals or small businesses. Other “specialty use” properties can be considered. We provide funds to investors to purchase, refinance or develop with loan amounts of $5M or more.
Senior Living, Assisted Living Property
Senior projects, assisted living, apartments and mixed-use properties are included in this category. Loan scenarios are purchase, refinance, bridge-gap loans to stabilization or sale, or bridge to construction take-out.
Other Eligible Properties Include: Office, hospitality, self-storage, senior housing, light industrial, cannabis projects, parking facilities, automotive, lots, land, farms and Ag.
FAQ’s
The most frequently asked questions people ask about hard money loans.
What are interest rates and terms for hard money loans?
Interest rates typically range from 9-15% annually and origination points range between 2-5%. Loan term is usually 6 months to 2 years. Terms vary depending on the loan-to-value ratio, loan size, borrower experience, and property type.
What types of properties qualify for hard money loans?
Most real estate types qualify, including residential properties, commercial buildings, land, multi-family units, and mixed-use properties. However, owner-occupied primary residences are often excluded due to regulatory restrictions.
What documentation do I need to apply?
Required documents typically include property details and photos, purchase contracts or estimates, proof of funds for down payment and repairs, basic financial statements, and identification. The documentation requirements are generally less extensive than traditional loans.
Can I use hard money loans for owner-occupied properties?
Most hard money lenders avoid owner-occupied residential properties due to strict federal regulations. These loans are primarily designed for investment properties and business purposes.
What credit score and income requirements do I need?
While credit and income matter less than with traditional loans, most lenders prefer credit scores above 600. The primary focus is on the deal’s profitability and the borrower’s experience with similar projects.
Are there any up front fees for hard money loans?
If there is an appraisal or inspection that cost would typically be paid up front by the borrower. Typical loan costs are paid from the loan proceeds including origination fees (2-5% of loan amount), title insurance, and closing costs. Some lenders also charge processing fees or require interest reserves to be held in escrow.
What happens if I can't repay the loan on time?
Most hard money lenders prefer to work with borrowers when a loan becomes past due. If payments have been made as agreed, many lenders offer extensions for additional fees, typically 1-2% of the outstanding balance. If extensions aren’t viable and/or a reasonable exit strategy cannot be mutually agreed, the lender could start foreclosure proceedings.
IGR Mortgage Services has been providing investors with hard money loans for over 30 years. We offer fast and affordable financing for investors of every experience level. Call today to or send us your loan scenario to review!