Sep 19 2018| Comment
Is a hard money loan right for me?
There’s a number of benefits when it comes to hard money loans. Bottom line, hard money loans provide investors with a quick, and fast, way of getting funding for their next project.
- Hard money is quick money. Instead of spending 2-3 months getting a loan, you can get a hard money loan approved in literally days.
- Hard money lenders are lenient, compared to traditional lenders that have stringent standards. Most hard money lenders focus on the collateral, not your ability to repay the loan. As a result, they are able to be creative when it comes to tailoring a loan for you.
- Flexible terms is one of the reasons many people turn to hard money lenders. You are working with a private lender, not a massive bank – which means you can get a loan that is right for you. It means you can get a tailor made loan, unique to your situation.
- Increased opportunities come from hard money loans. By being able to close a deal within 5-10 days thanks to fast cash provided by hard money, you’re able to secure deals fast.