Posts Categorized: Private Money Loans

Owner occupied loans have some requirements that you may not be aware of. For example, with owner occupied loans, flipping your home like 6% of 2016 homeowners did is not an option. Getting familiar with what owner occupied loans really require is essential to the success of managing your mortgage. What Is an Owner Occupied Mortgage? As the name implies, owner occupied mortgages are available to people that plan on buying a home and living in it. Owner occupied loans are easier to secure than other types of loans but they come with caveats that other loans do not come with. Why Do Lenders Like…
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Private money lenders can be a breath of fresh air to real estate investors looking for convenient financing. In simple terms, a private money lender is any individual or entity (as opposed to a traditional bank or credit union) that provides loans for real estate purchases. Whether you’re a short-term fix-and-flipper or a long-term real estate investor, getting financing from a private money lender comes with several benefits. Fast Processing When you’re planning to invest in real estate, it’s important to set things in motion as soon as you spot the right listing. The seller will want to see proof of funds, and they may…
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Homeownership remains one of the greatest American dreams. Sadly, most traditional lenders find it hard to bend their loan approval criteria to accommodate hopeful clients. Bad FICO scores, bankruptcy, forbearance notice, or recent foreclosure may make individuals virtually untouchable to banks and other conventional financing institutions. There’s Still Hope With Hard Money Lending Close to 31% of Americans have low or subprime credit scores, according to FICO. Poor credit scores may not absolve you from needing repairs for your home, moving to a new location, or needng capital for business expansion. Your FICO scores may keep traditional financial institutions away. Hard money lenders are a…
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House flipping is becoming increasingly popular among real estate investors. There are a lot of advantages that come with flipping houses, especially if you’re interested in making a potentially significant amount of money in a short amount of time. But the reality is that not everyone is in a position to begin buying homes, especially if they don’t have the strongest credit histories. Fortunately, there are options available for those who can’t necessarily borrow from typical lenders. Private money lenders have opened doors for people interested in flipping houses and given them the opportunity to pursue properties that they otherwise would be unable to afford….
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Saving to invest in the real estate industry will take you ages. Fortunately, California has reputable private money lenders who can easily make your homeownership dream a reality. Unlike conventional banks, private lenders have a unique way of dealing with their customers. Is your credit history taking a toll on your home investment dream? Read on to understand what makes a private money lender a reliable source of money. Quick Approval One of the standout benefits of a hard money lender is their speedy approval. Unlike banks, with private money lender, you will not wait for weeks to get your funds processed. Within 7-8 days,…
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You cannot discuss real estate investing without talking about private money lenders. Due to the competitive nature of the real estate industry, investors always find themselves in need of large capital, which may be out of their reach. Mostly, the real estate deals that rack in fast profits happen quickly, and only the investors with cash at hand make a killing on such deals. It is especially true for the fix-and-flippers and buy-and-hold investors who buy cheap property, renovate it and sell it at a profit. For such investors, private money lenders are God-sent because they would have nowhere to turn to get large sums…
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Getting approved for a money loan can make it easier to complete your next house flipping project, but they can also help you reach a life milestone like going to college or buying your first home. It is important to know that there is no one-size-fits-all loan plan. As an applicant, you need to know exactly what you will do with your loan so you know what type of loan provider to contact. If you have been considering getting a loan to assist in renovating or flipping a home, keep reading to learn why a private money loan is your best option. What Are Private…
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