Hard Money Loans

Hard money loans are loans that are based solely on the equity in your home. There is no lengthy review of an individual's credit profile, work history, income documents, other traditional loan guidelines. While hard money loans are quick and easy to obtain, they carry higher rates than traditional financing due to the inherent risk the lender assumes when not verifying the borrower's history or ability to repay the loan. A hard money loan should be a last resort for most home buyers since the rates are the least favorable of all loan programs. A hard money loan however can be used to a client's benefit for a huge variety of situations. We will look at some of the more popular reasons that buyers typically use a hard money loan for. In all of these scenarios some equity in the home is required.



Hard Money Loan Scenarios

  • HOMEOWNERS WITH EXTREMELY BAD CREDIT IN NEED OF  DEBT CONSOLIDATION
  • EXTREMELY BAD CREDIT FORECLOSURE BAILOUT
  • INVESTORS LOOKING TO BUY PROPERTIES QUICKLY WITH LITTLE DOCUMENTATION
  • NEED FAST CASH FOR SOME REASON AND HAVE EQUITY IN THE HOME BUT VERY BAD CREDIT
   These are just a few of the scenario's we see every day from our client's wishing to utilize a hard money loan program for their purchase or refinance needs. Investors are very fond of picking up properties below market value using hard money loans because they can close so quickly and need to provide littler or no documentation about their income and work history. A hard money purchase loan can be done to finance the entire purchase price and even closing costs!
 
    A hard money refinance loan is most often used to avoid foreclosure or bankruptcy. This allows the client to pay off debts and get back on track so they can refinance into more traditional financing within 12 months. Some of the guidelines and benefits of a hard money loan include:
 
Hard Money Loan Highlights
 
  • LOANS ARE BASED ON CURRENT APPRAISED VALUE
  • NO DOC LOANS OR STATED INCOME LOANS
  • CLOSING HAPPENS IN HALF THE TIME OF TRADITIONAL FINANCING
  • BUYER RARELY PAYS FOR THE COST OF APPRAISAL
  • EXTRA INCENTIVES TO CLIENTS THAT DO REPEAT BUSINESS
  • HARD MONEY LOANS ARE GOVERNMENT REGULATED AND POINTS/FEES CANNOT EXCEED STATE GUIDELINES
  • LOWEST POINTS AND FEES AVAILABLE
 
    Now you can see why we are the premier source for hard money loans in the U.S. Our mortgage professionals are prepared to put their years of experience and our access to these bad credit hard money loans to work for you! Contact US today or APPLY ONLINE for a same day response and let's start working together to help your American dream come true!