The funds from a hard money loan come from hard money hard money lenders who are interested in lending their money for interest. hard money lenders charge a higher than average interest rate – compared to traditional institutions. The source of the funds can come from an individual, or a pool of investors, who invest in your loan.
3 Our lenders provide any type of Hard Money Loans: They can be funded by a private individuals known as private hard money LENDERS or PRIVATE HARD MONEY INVESTORS, trusts, partnerships, real estate investment groups and retirement funds. Hard Money Loan is actually a very simple concept. It is the provision of an actual cash loan made to a borrower by a PRIVATE HARD MONEY LENDERS.
Hard Money Loan Interest Rate Better than Hard Money. Use these Private Lenders instead! – Hard money lenders can often fund deals quickly, and they can fund deals that traditional lenders would never approve. But, there’s a catch. It’s extremely expensive! Most hard money lenders charge 16-18% interest and thousands in up-front fees. By the time you factor in the loan costs, there isn’t any profit left in the deal for you.
Fairview Lending is the recognized residential hard money lender (bridge Lender/ No Doc Lender / Private lender / Non Bank Lender) with an A+ rating with the Better Business Bureau. Fairview is radically different from a bank (see table below) and also very different than other private lenders.
A hard money loans is a loan of "last resort" or a short-term bridge loan. hard money loans are backed by the value of the property, not by the credit worthiness of the borrower. Since the property itself is used as the only protection against default by the borrower, hard money loans have lower loan-to-value (LTV) ratios than traditional loans.
As a hard money lender we have a variety of loan options available for various types of real estate investments. But our most exciting and popular loan options are those where we can extend a no or low cash to close offer. Because we take on so much more risk with these loans we will only offer them when the deal meets our profitability and risk guidelines.
Hard Money Residential Construction Loans There’s also a labor shortage in Arizona, so a lot of the trades are having a hard. the money for cost overruns, then we have to basically step up, maybe change the loan-to-value, lend them more.
Asset Based Lending is a direct hard money lender for real estate investors in NY, NJ, CT, PA, MD, & FL with hard money loans starting as low as 9%. Home of the 2 day close and No-Point loan! Click for more information or to pre-qualify today!
Get direct hard money loans in California for residential & commercial property purchases & refi’s. Interest rates starts at 7.99%. Call: 800-571-0887.