| |
hard money loans: California Owner Occupied Hard Money Loans - 03/12/12 03:32 PM
Finding California owner occupied hard money lending has been difficult at best over the past few years. With all of the changes in the lending world, many hard money lenders simply stopped making owner occupied and/or consumer loans secured by 1-4 residential units. It has been only recently that we’ve started making these owner occupied hard money loans again, and I wanted to take a moment today to go over what we are able to help with.
Hard money loans are typically thought of as no-doc loans. That is not the case any longer, especially when talking about owner occupied or … (2 comments)
|
hard money loans: Alternative Financing Options With Hard Money - 08/09/11 01:39 PM
These days financing for real estate transactions can be a challenge. The banks have tightened their lending standards to the point where even quality borrowers may be unable to obtain the loans they need. This is compounded further among the smaller community banks, which make a lot of the local commercial, mixed use and other real estate loans that are not secured by an owner occupied single family residence.
For those with financing issues, a potential alternative is hard money. There are both pros and cons to using hard money. The benefits include looser qualification standards. For non consumer loans, often … (1 comments)
|
hard money loans: Owner Occupied Hard Money - 04/21/11 01:15 PM
With recent changes being made in the lending industry, owner occupied hard money has become increasingly difficult to obtain. Many hard money lenders who had made these loans in the past have stopped, choosing to only make loans for investment or business purposes.
Residential hard money can take two basic forms these days, consumer and non consumer. The distinction between these two qualifiers is important, so today we’re going to touch on the differences.
Generally speaking, many hard money lenders are shying away from consumer loans. These are loans made to consumers, for consumer purposes. Owner occupied hard money … (0 comments)
|
hard money loans: What is Hard Money? - 03/04/11 01:21 PM
Due to the current financial conditions, credit is becoming increasingly hard to come by. Many individuals who used to be able to walk into any bank and get a loan to meet their needs are now finding that there may not be any banks willing to lend to them, despite excellent credit scores and strong financials.
This is especially true for real estate investors, and in particular residential real estate investors. Individuals who own too many properties (some banks may determine 4 properties too many, some as high as 10) may have a hard time obtaining any kind of financing to … (0 comments)
|
hard money loans: Hard Money Loans - 100% Acquisition and Rehab Loans - 10/14/08 01:03 AM
Hard money loans are a good way to take advantage of the opportunities created by the downturn in today's housing market. I get a lot of calls from real estate investors looking for hard money loans to purchase and rehab property they can purchase below market value. Many are looking for 100% financing, which is a tough thing to find in today's lending climate. With that being said, there are programs that do allow for 100% acquisition financing on these rehab transactions.
The guidelines for these 100% acquisition and rehab loans are pretty straight forward. You will need cash or additional … (0 comments)
|
hard money loans: Hard Money Lenders - 07/23/08 12:17 PM
America is going through tough financial times; it is no secret that many Americans have fallen victim to unscrupulous lending practices and that the most important terms and conditions were not disclosed during the negotiation of a home loan. We are going through a financial bubble and because of reforms to lending practices home owners are desperate because they no longer qualify for new loans, either because of lower property values or more stringent lending guidelines. As the saying goes, desperate times call for desperate measures but, the measures that most people are taking are definitely not the best ones. A few … (0 comments)
|
hard money loans: How to Package Your Residential Hard Money Loans - 02/24/08 01:41 AM
If you're a broker in today's market, you know that money has tightened up dramatically. Hard money has become the new subprime, and many brokers are finding themselves placing hard money loans for the first time. To make things more difficult, hard money lenders are inundated with loan requests. If you don't already have relationships with individual lenders, you need to package your file properly to ensure it gets a fair shake.
All files are going to require the same basics, 1003, credit report, appraisal, signature authorization, mortgage statements and hazard insurance. Make sure you have these items before trying to … (1 comments)
|
|
|
|
|
|
|
;)
;)
;)
