The Benefits of Non-Owner-Occupied Loans

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In the ever-evolving landscape of real estate, navigating the intricate web of property investments requires a keen understanding of the financial tools at your disposal. One such tool that has been gaining traction for its versatility and potential benefits is the non-owner-occupied loan. Buckle up as we explore the untapped potential and perks of this financial instrument, unraveling the secrets that savvy investors have been leveraging to propel their real estate ventures to new heights. Unlocking Higher Income Potential Imagine you’ve identified a promising real estate opportunity, but your current funds fall short. This is where non-owner-occupied loans swoop in as the hero of your…
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Understanding Non-Owner Occupied Loans: A Simple Guide

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Most of us concentrate on finding the ideal place to call home when buying a new house. But sometimes you want to buy a property for investment purposes. The financing you receive in this scenario is called a non-owner occupied loan. So, if you want to expand your real estate portfolio, you’ve come to the right place. Keep reading to learn more about non-owner occupied loans and the different types that exist. What Are Non-Owner Occupied Loans? Non-owner occupied loans, also referred to as investment property loans, are financial aid offered by lenders to help you buy homes that aren’t meant to be your permanent…
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How Are Hard Money Loans Calculated?

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Private investors or companies offer hard money loans based on real estate collateral. While these loans are perfect for people who need fast access to funds, the loan amount or tenure is generally not fixed. Read on to learn how lenders calculate hard money loans and their tenure. How Do Hard Money Loans Work? To qualify for a hard money loan, you must have a property you can use as collateral. Lenders will use the property as collateral, so the property must have enough value to cover the loan amount. And while credit scores may not be the main focus for hard money lenders, they’ll…
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What to Expect From a Hard Money Loan

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Getting approved for a loan isn’t easy for someone with poor credit. Luckily, hard money loan lenders are available to help. Hard money loans come in handy for a variety of reasons. They’re easier to qualify for than traditional loans, often require less paperwork, and you can receive funding quickly. Read on to see what you can expect from applying for these loans. Loan Ratios Hard money loan-to-value ratios tend to hover at around 60-70% of the current appraised value of the property. This ratio means that you’ll need to come up with the rest of the money for closing costs and any additional fees…
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Frequently Asked Questions About Private Loans, Officially Answered

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Poor credit can be hard to deal with, but it shouldn’t stop you from living your life. The good news is that it’s still possible to get a private loan with poor credit. At ARC Private Lending, we work hard so you can get funding. However, even if you know where to get funding, you may still have some important questions. With that in mind, here are some of the most frequently asked questions we receive about private loans and the answers you need to know. What Is a Hard Money Loan? A hard money loan is a loan from a private lender rather than…
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Can You Get a Private Loan With Poor Credit?

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get funding for a hard money loan

Are you stressed out over bad credit, and wonder if you can find some relief? If so, you aren’t alone. According to Fox Business, as many as one-third of Americans share your struggle with poor credit, but the good news is there are options! Getting a private loan is possible with bad credit, depending on where you look. Read further to find out how you can work around poor credit to get funding. 1. What is a Private Loan? A private loan is funding from a non-traditional lender, such as an online lender, or other sources like a family member or friend. It’s typically used…
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4 Qualifications You Want for a Hard Money Loan

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A hard money loan is a loan that’s based on the value of the property, not on the borrower’s creditworthiness. Hard money loans are usually short-term loans, lasting from one to five years. They’re typically used for rehabbing properties or for investment purposes. Here are the qualifications you’ll need to get a hard money loan. 1. Good Equity When it’s time to get a hard money loan, the lender will want to see that you have some “skin in the game.” In other words, they’ll want to see that you have some equity in the property. Equity is the portion of the property’s value that…
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How Quickly Can You Get a Hard Money Loan?

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You learn that a co-worker wants to unload a house ASAP. You see the potential to make a good profit by flipping the house. They want a reasonable amount, but you don’t have enough in savings, or strong enough credit, to swing a traditional mortgage. Nor will the other party wait the 6 weeks or more a traditional mortgage process requires. What do you do? The solution could be a hard money loan from a private lender. What Is a Hard Money Loan? It’s called a hard money loan because it’s secured by a hard asset: the property itself. These are non-bank loans permitting real…
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3 Tips to Improve Your Credit for a Loan

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Every now and then, a time may come when you need to apply for either a conventional or hard money loan. If you happen to be one of the approximately 68 million Americans who have poor credit, you may be wondering what to do. This is because it’s practically impossible to get a loan if you have bad credit. Read on to see some tips that can help you improve your credit so that you can get a loan. 1. Pay Your Bills on Time One of the easiest ways in which you can improve your credit and form a good habit while at it…
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4 Tips for Choosing the Right Hard Money Lender

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Private hard money lenders are critical people to build relationships with if you work in real estate. For many years, they have played an important role as a financing alternative for real estate investors, particularly those with bad credit or searching for rapid cash for time-sensitive projects. If you’re unfamiliar with hard money, it can be difficult to know where to start. Since not all hard money lenders are similar, it’s essential to know how to select one that will be as honest, competent, and efficient as you need. Below are tips for choosing the right hard money lender. Educate Yourself On the Hard Money…
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