Private money or hard money loans are becoming increasingly harder to come by in Spokane. The Sub-prime and Foreclosure scare has made investors shy away from real estate and lower the Loan to Value percentage when it comes to hard or private money loans. Less than a year ago Hard Money went all the way to 75% where is now, 65% the maximum. Even at 65% investors are cherry picking deals and passing by anything rural. The investment has to be a "can't lose" type of deal for investors to be interested.
If the Property is Rural or a log home your hard money lender might only go to 50 or 60%. If you need a Hard money loan in Spokane or Washington state. Give me a call at 509-951-4615 or visit our Spokane Home Loans website to get pre-qualified with short 2 minute application.
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