A hard money loan is a type of short-term loan taken out by real estate investors. The loan uses the property being purchased as collateral. A hard money loan can come with several benefits, such as speedy financing and a hassle-free application. If you’re an investor with a poor credit score, you might be wondering if you qualify for a hard money loan. Hard Money Loans Have A Less Stringent Approval Process Hard money lenders are more flex...

If you’re looking to invest in real estate, chances are you’re planning to take out a hard money loan to obtain the required funds. However, when shopping for the best hard money lender, it’s important to ask the right questions. For starters, a hard money loan is a loan that’s secured by the real estate you’re purchasing. Now that you have the basics, here are more questions to ask your hard money lender to ensure y...

Private money loans are a darling to budding real estate investors. Traditional mortgage options may be out-of-reach to most investors with low credit ratings. Additionally, the slow bureaucratic approval process at the bank may require you to present your tax filings, credit scores, appraisals, among other documents, before approving the loan. Sadly, you may lose out on the remarkable fix and flip deal that you were hoping to cash in on before t...

As the name suggests, an owner-occupied loan is given to a borrower who is expected to stay in the home for at least a year. Banks consider these loans to be less risky compared to investment properties. Because of the lesser risk they carry, owner-occupied loans come with lower interest rates. They also have lesser fees and penalties compared to second home mortgages or investment property loans. What are the Risks of Owner Occupied Loans? There...

There is no reason why you should feel ashamed if you have poor credit. This issue is more common than you might think, with roughly one-third of all Americans having less than desirable credit histories. Unfortunately, despite its prevalence, bad credit can still prevent you from getting where you want to be in life. Whether that means buying a house or buying a car, bad credit can and will be a nuisance. It will make you ineligible for a number...

For fix and flip investors, getting access to quick financing is crucial to success. While a bank loan can be one way to finance a fix and flip project, bank loans often take ages to get, and the loan application process can be quite tedious. The real estate market is dynamic, and if you’re a fix and flip investor, you can’t afford to drag your feet and miss out on available properties. You need money fast. That’s where hard mon...

Are you between a rock and a hard place financially? Are you in dire need of a loan? Don’t know which kind of loan you should settle for? Well, you are in the right place. We will help you demystify between hard money loans and private money loans and find which best suits you. In the end, you will be able to settle on the loan provider that suits you best. A hard money loan is a traditional short-term mortgage that is collateralized by a h...