Don’t Make These 7 Personal Loan Mistakes

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Don't make these 7 mistakes with personal loans

At some point in your life, you will probably be applying for a personal loan to finance your dream home. However, it is important for you to be extra careful when applying for a personal loan. There are a few common mistakes people make that end up jeopardizing their financial status. Let’s have a look at a list of seven common mistakes that people tend to make while availing a personal loan, or an installment loan. 1. Grabbing the first loan that is offered Since an individual loan is an unsecured loan which does not require you to provide collateral, the rates of interest are…
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The Difference between Hard Money Loans and Private Money Loans

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Hard money loans vs private money loans

If you’re considering investing in real estate, there are many reasons to appreciate hard money and private money loans.  This is especially the case when you compare them to more traditional lending options like bank loans. If you’re agonizing over how to get a home loan with bad credit so that you can take advantage of a fix and flip or other real estate investing opportunity, it may surprise you to learn that hard money and private money lenders don’t care so much about your credit score. Instead, they’re more interested in the fact that you have sufficient capital.  They generally require around 25-35% of the…
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How Do Hard Money Loans Work?

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Hard money loans are an alternative for financing a house or investment property if you can't get approved for a traditional loan.

If poor credit is holding you back from taking advantage of real estate investing opportunities, even though you have plenty of capital or collateral, it’s time you discovered how to get a home loan with bad credit. The first step is to walk away from traditional lenders and seek alternative funding solutions. Hard money loans could be just what you’re looking for, but what is a hard money loan? How does it work and why is it useful when buying a home with bad credit? Here are just a few things you should know if poor credit is stopping you from getting the loan you…
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Common Reasons Your Private Money Loan Request Would Be Denied

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Understand the possible reasons you may be denied for a private money loan to help better plan your financing strategy.

There are many reasons why real estate investors might seek out private money loans instead of more traditional avenues of mortgage lending. Not only is credit rating generally not a factor, but these loans can be much more expeditious than borrowing from banks. This is because private lenders are more interested in collateral than credit, as well as the plan for seeing return on investment from real estate projects like house flipping, rental properties, or other commercial interests. Because funding comes from an individual or a group of private investors, you won’t have to jump through the same hoops as with traditional lenders. That said,…
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