A hard money loan refers to an agreement in which you borrow funds using your property as collateral. Hard money lenders are usually private individuals or companies instead of traditional lenders like banks. That’s because while banks are more interested in your credit profile and ability to service the loan, hard money lenders are more concerned about the value of your property. The agreement is that you repay the funds together with inte...

Real estate investors often reach out to hard money lenders to finance their deals. Traditional banks may request formal property appraisals, good credit ratings, tax filings, and other documents before approving a loan. You may have to wait for weeks on end for the bureaucratic process to come to its conclusion, most times making you lose out of a sweet fix and flip deal. The average American has approximately $38,000 of debt, without including ...

Successful real estate investors understand the beauty of hard money loans. The hard money lender provides quicker access to much-needed cash to finance real estate deals with less stringent approval processes. Conventional mortgages are hard to come by, with a lot of scrutiny and red-tape before your loan gets approved. If you have a bad credit score or need instant access to ready cash, hard money loans are the perfect alternative. However, a l...

So it happened: you were turned away for a traditional loan from a banking institution. You’re allowed to be devastated initially. The reality is that many purchases, like those of property, are not possible to make without major loans. But the question for many is how they can obtain those loans after they’ve been denied loans from major financial institutions. In fact, major lenders are not the only options available for fairly siza...

Have you been trying to qualify for a mortgage loan but haven’t been able to find the right lender? Hard money lending could be the answer to your worries. A hard money lender works around the traditional loan system to qualify you for a custom loan. The best news? You don’t need a stellar credit score or a large sum of cash to qualify. Hard Money Lending 101 The real estate arena is typically where hard money lending happens. Applicants use ...

The fast-paced nature of the real estate industry pushes investors to have ready cash to seal the deal. Hard money loans are attractive alternatives to traditional financing options. Conventional bank mortgages involve many bureaucracies and red tape that can sabotage your fix-and-flip deal. On the other hand, hard money lenders provide ready cash with a less stringent approval process. Let’s talk a bit more about why these loans appeal to ...

So you’ve been denied your home loan. This can be quite devastating, especially if you were attempting to attain an investment property that would actually benefit your financial situation rather than being to its detriment. Yet countless people are denied home loans each year for a number of different reasons. One of the reasons why this occurs more today than it did even two decades ago is, of course, the 2008 financial crisis. This finan...

There is a wide variety of reasons why you may someday need a loan. Perhaps the biggest reason why most people end up needing substantial loans, of course, is the pursuit of homeownership. Those who can afford to buy a house upfront without a loan are few and far between to the point that mortgage loans have become something of an industry in the financial world. But the unfortunate reality is that though we all need housing, we aren’t alwa...