Frequently Asked

We have answers to your loan questions

Hard Money Loan Frequently Asked Questions

Does MJ Global Investments LLC charge a prepayment penalty?

No, Malcolm Pena Sr never charges a penalty for paying off a loan before the maturity.

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What happens in a year if we need more time to complete our business and our loan is maturing with MJ Global Investments LLC?


While our loans usually mature in one year, we will consider extending the note for a year for an additional three points. If a customer needs just a little more time, we will usually extend the note for one point for a three-month extension. Malcolm Pena Sr will only extend loans for customers with excellent pay history in the first year.

Does MJ Global Investments LLC require surveys?

Yes. Long Answer: Existing surveys are often acceptable. Title companies require surveys in order to provide title insurance to lenders for possible encumbrances on title due to encroachments, boundary issues, easements, etc. Surveys also provide confirmation that the physical address and legal description represent the same property. Surveys protect both the borrower and lender.

For what property types does MJ Global Investments LLC make loans?

MJ Global Investments LLC makes loans on all property types with the exception of owner-occupied primary residences.

Do we have to maintain property insurance for the loan amount?

Insurance is required for all property with structures. Malcolm Pena Sr takes into consideration the value of the land and does not require you to insure the land. A Flood Certificate will determine whether Flood Insurance is needed.

Where does MJ Global Investments LLC do business?

Malcolm Pena Sr makes loans on real property in all the 50 states .

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