Hard Money Loans: Understanding This Financial Option

Posted by & filed under Credit Tips.

hard money loan

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 financial crisis was based in part on the fact that banks were freely giving out loans to whoever applied, and those people were then unable to pay for their loans. This…
Learn More

3 Reasons Why You Should Consider Hard Money Loans

Posted by & filed under Credit Tips.

hard money loans

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 always able to get our hands on the money necessary to buy it. If you don’t want to lose money over time, which renting inevitably does…
Learn More

What Is a Hard Money Loan?

Posted by & filed under Credit Tips.

hard money loans

What exactly is a hard money lender? The average person may not be familiar with this type of real estate terminology. Although there are a lot of misconceptions surrounding hard money loans, they can be beneficial options for many people. These types of lenders are essential to the housing market and help individuals get the home loans they need to invest in real estate. What Is a Hard Money Lender? If you are not already aware, there are many different ways to borrow money. There are also several different types of money lenders. To understand a hard money lender, you will first need to understand…
Learn More

How Hard Money Loans Can Benefit House Flippers

Posted by & filed under Credit Tips.

what is a hard money loan

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…
Learn More

Owner Occupied Loans Are Available for People with Residential Property

Posted by & filed under Credit Tips.

hard money loans

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….
Learn More

The Main Advantages of Hard Money Loans for Real Estate Investors

Posted by & filed under Credit Tips.

hard money lender

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…
Learn More

Why Most Investors are Running Towards Hard Money Loans

Posted by & filed under Credit Tips.

residential owner occupied loans

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…
Learn More

Easily Invest in Real Estate with Hard Money Loans

Posted by & filed under Credit Tips.

hard money loans

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…
Learn More

A Guide on Private Money Lending

Posted by & filed under Credit Tips.

private money lender

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…
Learn More

Why Should You Use a Hard Money Lender?

Posted by & filed under Credit Tips.

hard money lender

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…
Learn More