hard money lenders: Getting started with hard money loans in California
- 01/20/16 02:25 AM
If hard money lending is new for you and you're wondering whether or not to commit yourself, this preview gives you some tips on getting started. The term hard money loans seems intimidating to some – maybe it’s the term ‘hard’ – but actually the system is similar to traditional bank lending with the exception that the lender focuses on your property rather than on your FICO or credit history. Here are some tips as starters Read all you can on the subject: In short, hard money lenders loan from their own pockets therefore they charge you a higher interest rate and lower loan-to-value (LTV) rate than banks do. Most people choose them … (0 comments)
hard money lenders: How to negotiate the best hard money lending deal
- 01/20/16 02:23 AM
Your hard money lending situation somewhat reminds me of a Goliath vs. David encounter where you are the puny David facing the know-it-all seemingly omnipotent Goliath – namely hard money lender. In this way: Hard money lenders are typically savvy, highly skilled awfully knowledgeable individuals. They know how to get the cream of the crop and the carrot of the deal. And you may know relatively little. To get good terms, you’ll need to know their lingo, play their game and tackle the ins and outs of hard money loan deals. For starters, here's a rundown of the fees that you’ll almost certainly be paying: Points - Paid by you as part of your closing … (0 comments)
hard money lenders: Stated income mortgage lenders, how hard is it to get a mortgage loan
- 01/20/16 02:17 AM
Times may be good for entrepreneurs. They may work from their pajamas or wrap a computer in their bag and tap by the lake, on their veranda, on their boat, or speak to their clients while jogging or racing their mastiff. Few want to give up these schedules. They call it liberating and authentic. At the same time it may be harder for them to get a mortgage. The IRS/ bank has different considerations Conventional financing is just that. It is for those who have a conventional job. These individuals can speak to conventional lenders in language that they understand. They can show them regular income that is … (1 comments)
hard money lenders: I need a private hard money loan lenders in Los Angeles for bad credit
- 01/20/16 02:15 AM
So many first time home investors are curious about hard money lenders. What are they? What do they do? How do they differ from banks? What are their risks? Can I trust them? How do I find them? First of all, let’s run through the difference between soft and hard money. When investors talk about soft money they refer to funds that are relatively easy to qualify for and whose terms are more flexible. Hard money on the other hand is the opposite. Its terms are more strict and specific. Not that it’s harder to get, but they are more rigid. This has to be so since ‘hard … (0 comments)
hard money lenders: Stated income mortgage loan: How to get a loan if you’re self-employed
- 01/20/16 02:13 AM
Stated income loans work best for self-employed individuals since they allow you to apply for a mortgage based on your bank receipts or brokerage statements and on the processor (usually a private investor) understanding that since you’re self-employed your income is likely to be volatile. This route is far easier and happier than trying and failing to persuade the banks to treat you as a traditional worker. At one time, stated income loans (otherwise known as ‘alternative documentation loans’ "portfolio programs," "alternative-income verification loans" and "asset-based loans”) were less regulated than now therefore they were – and still are – also called ‘liars loans’ or liar's loans. Many a borrower, unintentionally or … (1 comments)
hard money lenders: Do Hard Money Lenders Fit Your Need?
- 02/17/12 04:25 AM
Do Hard Money Lenders Fit Your Need? Hard money lenders are a great way to get the necessary funding for your own investment endeavors. From foreclosures to commercial hard money opportunities, there are more than a few ways to use the benefits of a shortened application period to generate revenue. These short-term loans are a great way to obtain property in need of renovation, make the necessary changes, and quickly sell, generating revenue without the hang-ups of a large bank. Identifying the nuances with your specific situation will be the key in determining whether or not hard money loans are for … (0 comments)
hard money lenders: Purchasing Foreclosures? Hard Money Lenders Can Help!
- 02/17/12 04:24 AM
Purchasing Foreclosures? Hard Money Lenders Can Help! One of the most common methods for the purchase of foreclosures is employing the help of hard money lenders. Both the Borrower and Lender benefit from such an arrangement, as the process is significantly shortened and the lending group can charge a premium interest rate. Typically homes listed for foreclosure are in dire need of a number of repairs and are often in the process of being renovated. When a home is considered non-livable, traditional lenders will not get involved. If the plumbing is in shambles, appraisers take note. Should the Borrower need the … (0 comments)
hard money lenders: Hard Money Lending – Learning the Ropes
- 02/17/12 04:13 AM
Hard Money Lending – Learning the Ropes Funding requests abound in the modern economic world. Mortgages have been a hot topic of discussion in recent years, investment opportunities have arisen, giving those with the means of providing loans to others a chance at generating nice interest returns on their money. Conversely, those who are seeking loans can find much less red tape in their acquisition, provided they agree to pay a premium interest rate. Commercial hard money lenders, for example, do not need to tie their interest to the banking industry standard. Instead, they are able to charge 2 to 10 … (0 comments)
hard money lenders: Hard money lenders you don't want to work with!!!
- 02/07/12 05:09 AM
Not all Hard money lenders are good for you So how do you really know who is the right hard money lender for your project? It's not that easy to recognize the hard money lenders that are not good for your project if you don't have any experience dealing with hard money lenders before. hard money lenders are all over the place these days. For some people it will be the best thing ever happen and for others it will be the worst nightmare. If you want to be one of those that by the time the deal will fund will … (0 comments)
hard money lenders: What is Hard Money loan?
- 02/07/12 04:26 AM
What is hard money loan? Here are different points that will explain you all you need to know about Hard money loan: 1. Hard money loan is a loan being made by a private investor instead of a conventional lender(such as Bank of America, Chase, Wells Fargo, etc) 2. Hard money loan also considered to be an Angel loan for the reason of the type of financing private investors provide to help real estate investors when they can't find any financing help outside. 3. Hard money loan will let you qualify for a real estate loan even if your credit is … (1 comments)
hard money lenders: Questions before hiring hard money lenders
- 02/06/12 07:16 AM
Sometimes real estate investors find them selves in a point that they have to get a hard money lender to provide them private financing help for a project they have going. Many Real estate professionals are trying to flip properties these days and there only source for funding are hard money lenders. If you are one of these people then you need to know some information about hard money lenders before looking for them. where to find hard money lenders? These days it's so easy to find hard money lenders because of the internet. So Google, facebook, Bing, Twitter and linkedin … (1 comments)
If hard money lending is new for you and you're wondering whether or not to commit yourself, this preview gives you some tips on getting started.
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