Hard Money Financing: Get Hard Money Loan for Fast and Easy Cash
Author: Carrie Dawson
If youre an investor whos been denied a bunch of times by lending institutions because of your credit history, then hard money loan is for you. When you badly need money in such short notice, http://www.rehabhardmoney.com" target="_blank" title="http://www.rehabhardmoney.com">hard money is your refuge.
Every real estate investor needs financing for his or her http://rehab-real-estate.com/" target="_blank" title="http://rehab-real-estate.com/">real estate investments. Not having enough funds can be one of the biggest mistakes an investor can make. Investors who need financing for their flipping, rehabbing, and wholesaling business can get it through hard money loans.
Hard money loan is an asset-based loan secured by a collateral. This collateral in most cases is a parcel of real estate.
Unlike traditional lending institutions, hard money lenders do not focus on the borrower but on the deal itself. A borrowers credit history will do little or no effect on the loan. The amount of the loan is determined by the value of the property or deal. So if the deal is good, youll get the loan easily.
Fast and easy money is now within your reach. Hard money loan is a loan that can fulfill an investors dream to be successful in real estate investing.
Obtaining a hard money loan is easy because it will take only a shorter period of time to get the loan. Usually, it will only take weeks or even days for a hard money lender to release the loan.
Though the interest rate of hard money loan is much higher than that of a traditional one, hard money may cover 100% of the deal. That may be possible if the deal is within the maximum amount offered by the lender.
If youre planning to get to a hard money lender, there are many ways to do so. One way is to consult a mortgage company and ask for referrals. Another way is to check with title companies and real estate organizations.
The internet also provides a lot of sites that specialize in hard money lending. One notable site is http://www.rehabhardmoney.com" target="_blank" title="http://www.rehabhardmoney.com">RehabHardMoney.com. The site was made to serve as a meeting place for hard money lender and borrowers. Visiting the site will make it easier for you to find the lender that will meet your needs. About the Author: