Posts Categorized: Credit Tips

If you are looking to acquire real estate, you might be struggling to find a loan that works for you. This is especially true for small buyers and new buyers looking to expand without breaking the bank. Fortunately, hard money loans offer the opportunity to secure a loan for real estate in an affordable and easy-to-understand way. What Is a Hard Money Loan? If you’ve never heard of them before, you may be wondering, “What is a hard money loan?”. A hard money loan differs from other types of loans in that it’s secured by collateral. This means that hard money lenders are less concerned…
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In the United States, 1/3rd of Americans have credit that is poor. Poor credit doesn’t stop you from needing necessary repairs for your home, assistance for your business, or more money to help pay bills that have fallen behind. Luckily, there are institutions that offer hard money loans. If you own your residence and it’s your primary residence, you could get a hard money loan, otherwise known as owner occupied loans, from private money lenders. Hard money loans use the primary residence that is occupied as securing collateral. There are actually two loan programs available, owner-occupied alternative financing loans, and owner-occupied hard money business loans….
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Real estate investors and hard money lenders are two groups of people that are well-acquainted with each other. The opportunity to turn a profit is the glue that keeps them together. Real estate investors are interested in making money they don’t currently possess, while hard money lenders possess cash at-hand that they are willing to lend out and earn interest. It is a well-balanced act that sees both groups make a profit from real estate deals.   A hard money lender, also called a private money lender, is in the business of loaning out hard money and making a profit from the interest charged. Hard…
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Prospective investors often need for substantial loans to finance their projects. However, most of them cannot qualify for bank loans due to poor credit scores. Approximately 33% of Americans have a poor credit score. As such, many investors opt for alternative sources of capital, including the fact that bank loans involve a lengthy process and tedious paperwork.   Today, residential owner occupied loans are gaining favor, and most investors are leaning towards such loans. Hard money loans come from other investors, or individuals and most of them use the property in question as collateral. Hard money allows investors with poor credit scores or those who…
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Have you been trying to get a loan for more real estate investments? Are you finding the process is difficult, or it takes too long? Don’t miss out on a great real estate deal waiting for traditional lenders to eventually approve or deny a loan. Why deal with banks or even credit unions and all of their red tape when you can get a hard money loan from reputable private money lenders? It only makes sense when you can typically get a hard money loan in as soon as 7 to 8 days.   What Is a Hard Money Loan?   Most people do not…
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The nature of the fast-paced real estate industry creates a need for ever-present cash flow. Access to finance can help you cut into the sweet house flipping deal at discounted prices. However, bad credit ratings and bankruptcy filings can deter you from accessing loans from traditional lenders. And you are not alone. Currently, over 68 million Americans have a poor credit score. Luckily, a private money lender is a viable option that will offer quick cash with a lesser stringent approval process. Your Credit Score Rating Doesn’t Matter, Property Value Does Real estate investments are a tricky lot, especially without quick access to funds. Hard…
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Money can actually be pretty tricky. It’s not quite as simple as taking out a loan when you need one in order to pay for a house, a car or even some bills that have managed to pile up on you. There are lots of different types of loans out there and many different types of loan institutions that can provide you with money when you need it. So why should you choose a hard money lender to get the funds you need? Learn a little more about hard money loans and hard money lending, and learn why this might be able to help you…
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Buying your own home is a major part of the American dream. For most people, this will require borrowing money in the form of a mortgage.   Over 10 years ago, there were many different types of mortgages available. These included “A paper” (for those with perfect credit, provable income and plenty of reserves), “Alt A” (short for alternative to A paper, for those who couldn’t quite meet the requirements of A paper, subprime (for those who couldn’t fit into the Alt A box) and hard money (for those with very poor credit or a property in poor condition).   After the housing and mortgage…
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Are you starting a new business and planning to purchase property? Are you turning your online business into a physical business? Or are you in need of an upgrade? Purchasing a new or upgraded brick-and-mortar location for your business is the first step in becoming more established in your industry and community. Whether the physical location is a storefront, a warehouse, or an office, there’s a lot of excitement that comes from purchasing real estate for your small business. But don’t forget about the stresses that come with purchasing real estate. Fortunately, hard money lenders can help you with the financing process. But you should…
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If you’ve got cash to spare or a property or two already on the market, maybe you’ve considered getting into house flipping. If the numbers add up for you, it can be a great way to start multiplying your worth and helping to turn decrepit properties around. Novices might be intimidated, but thankfully anyone can get into California house flipping. Population trends on the coasts show that people are moving from the center of the US toward one of the edges. That means that any of those foreclosed and poorly tended properties on the market could hold serious value if given a little TLC. If…
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