Hard Money Drawbacks

Hannah Patten Uncategorized Leave a Comment

Hard money is far from perfect. While it does seem simple, an asset secures the loan so everybody’s safe- hard money is only one option. It is expensive, so things have to work according to plan to materialize.  Hard money does work differently from loans you may have used in the past. Lenders typically use more conservative methods to value property than you typically would expect.  As hard money loans are expensive there are other methods that can be pursued. Expect to pay double-digit interest rates on hard money. But, don’t let that deter you from applying for your next …

Why Use Hard Money

Hannah Patten Uncategorized Leave a Comment

In previous blogs we discussed what a hard money loan is, we discussed other types of loans, and we discussed what type of loan suits your needs. In today’s blog, we will be discussing why you would need or want to use a hard money loan.  Hard money is expensive, so why would you use it? Hard money has its place for certain borrowers who cannot get traditional funding when they need it. Let’s break it down more.  Speed: the lender is mostly focused on collateral so hard money loans can be closed quicker than traditional loans because they typically …

Special Considerations for Hard Money Loans

Hannah Patten Uncategorized

The cost of a hard money loan to the borrower is typically higher than financing available through banks or the government lending programs, reflecting the higher risk that the lender is taking by offering the financing. However, the increased expense is a tradeoff for faster access to capital and potential flexibility in the repayment schedule.  Hard money loans may be used in turnaround situations, short-term financing, and by borrowers with poor credit but substantial equity in their property. Since it can be issued quickly, a hard money loan can be used as a way to stave off foreclosure. 

Special Considerations for Hard Money Loans

Hannah Patten Uncategorized

The cost of a hard money loan to the borrower is typically higher than financing available through banks or the government lending programs, reflecting the higher risk that the lender is taking by offering the financing. However, the increased expense is a tradeoff for faster access to capital and potential flexibility in the repayment schedule.  Hard money loans may be used in turnaround situations, short-term financing, and by borrowers with poor credit but substantial equity in their property. Since it can be issued quickly, a hard money loan can be used as a way to stave off foreclosure. 

Loan VS Line of Credit: What is the difference?

Hannah Patten Uncategorized

Both Loans and Lines of Credit are two ways to borrow money from lenders for both businesses and individuals. For both, lines of credit usually depend on their intended purpose, a borrower’s credit rating, and financial history, along with their relationship with the lender. Loans have what is called a non-revolving credit limit, which means the borrower only has access to the amount loaned once, whereas they subsequently make principal and interest payments until that said debt is paid off. On the other hand, a line of credit works differently. Just like with a credit card the borrower receives a …

How To Be The Best Real Estate Agent

Hannah Patten Uncategorized

The competition for real estate agents is certainly at an all-time high. Nowadays you need both Digital and offline marketing skills to make a serious impact in your area. However, many key strategies can be implemented to expand your real estate business:  Understanding Your Market  This is probably the most important strategy for any real estate agent. You must know your target market inside and out, that’s why an agent should focus on a specific niche rather than being a jack of all trades. If you know what makes your target audience drive to purchase you can sell more properties.  …

How the Home Office Demand is changing Real Estate

Hannah Patten Uncategorized

Needless to say that 2020 has certainly thrown us a few curveballs. The pandemic has affected nearly every person, every business, and every industry in one way or another. For those in the real estate business, there is now a sudden increase in demand for home offices. Will this trend last and what kinda long-term impacts will this have on the real estate industry? Home offices are certainly not new but they are quickly becoming the new norm. While many businesses have already considered remote working for a long-term period this has been a hectic job for many in the …

Hard Money Lender Florida Sarasota 34243

David Di Natale Uncategorized

(Pictured) Capital Funding Financial closed a luxury oceanfront single family residential property in just 7 days on our Hard Money Loan Program! No Credit or Income Requirement! Hard Money Lender Sarasota Quick Loan Application Get Pre-approved today at 954-320-0242 APPLY NOW CALL US TODAY AT 954-320-0242 What’s hard money loan? A hard money loan is a loan given to a borrower from a lender based mostly on the worth of the underlying collateralized asset. Traditional banks and lenders focus mostly on income and the credit of the borrower where asset based lenders aka hard money lenders focus mainly on the …

Hard Money Lender Florida Miami 33299

Mark Labonte Uncategorized

Hard Money Lender Miami RATES STARTING AT 7.49%* UP TO 80% LTV! 90% LTC! 1-3 YEAR TERM INTEREST ONLY  NO PREPAYMENT PENALTY*  QUICK 7 DAY CLOSING ONCE TITLE AND APPRAISAL ARE COMPLETE NO VERIFIED INCOME DOCS REQUIRED OR TAX RETURNS NEEDED MINIMUM LOAN AMOUNT OF $100,000 UP TO 25 MILLION LENDING AVAILABLE NATIONWIDE N/O/O RESIDENTIAL, BUSINESS USE PURPOSE, INVESTMENT, & COMMERCIAL PROPERTIES ONLY 30 YR Rental loans from 4.00%, Fix and Flip Loans from 7.49% and Commercial Bridge loans from 6.50%! CONSUMER BASED – OWNER OCCUPIED LOANS FOR FLORIDA RESIDENTS ONLY. RATES STARTING AT 2.25% APPLY NOW CALL US TODAY AT …