Once you hear the words “hard money loan” (or “private money loan”) what’s the first thing that goes through the mind?
Shady searching loan providers whom conduct their business in dark alleys and cost interest that is sky-high?
Some bad apples tarnished the hard money lending industry when a few predatory lenders were attempting to “loan-to-own”, providing very risky loans to borrowers using real estate as collateral and intending to foreclose on the properties in prior years. Luckily for us, these kind of difficult cash lenders don’t exist in today’s market, however some recurring stigma continues to be for a few property investors that haven’t recently utilized the solutions of an established money lender that is hard.
In this specific article, we will look at the fundamentals of difficult cash loans, including:
- Just exactly What money that is hard are exactly about.
- The kinds of properties and deals hard cash loans are suitable for.
- What sort of rates of interest and loan to value ratios you may anticipate.
- Standard requirements regarding the debtor.
- How to locate a professional hard money loan provider to work alongside. Continue reading “Tricky Cash 101: All You Need To Realize About Getting To Grips With Intense Cash Loans”