Hard Money Financing: Making Real Estate Investing Easier
Author: Carrie Dawson
Author: Carrie Dawsonhttp://rehab-real-estate.com/" target="_blank" title="http://rehab-real-estate.com/">Real estate investing has never been this easy with hard money loans. Investors who are about to enter the business have higher hopes to get started on their venture even without much capital.
Hard money loan is an investors access to capital. Hard money loan is a type of loan wherein a borrower receives financing which is based from the value of a property. A hard money lender bases the amount of a loan on the worth of the borrowers property.
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http://www.rehabhardmoney.com" target="_blank" title="http://www.rehabhardmoney.com">Hard Money Loans: Making Real Estate Investing Easier
In obtaining a hard money loan, youll be surprised that your credit history will not have much effect on the loan. Hard money lender does not focus on a borrowers financial capabilities and history so credit record will not affect the loan that much. The loan is based on the value of a hard asset, a real estate property, and credit score is not that important. Most investors obtain this king of loan because of this advantage.
If youre the type who gets bored of waiting, hard money loan is for you. Unlike conventional loans that take several months to be approved, hard money loan will not make you wait that long. Known as quick and easy access cash, this type of loan takes only several weeks or days. Once the lender confirms the value of the property, prepare to flip and rehab right away.
One thing that makes investor shun hard money loans is the sky-high interest rates. Think of it this way, its quite a big risk that hard money lenders trust a bad credit borrower because of the possibility of a property resale. A lender does not give much attention to a borrowers income or capacity to pay back the loan, but instead, believes on a propertys value. The resale is undetermined until it is sold.
To know more about hard money loans you can check outhttp://www.rehabhardmoney.com" target="_blank" title="http://www.rehabhardmoney.com">RehabHardMoney.comtoday. It is a site where hard money borrowers and lenders meet. Visitors can get their hard money needs instantly by filling out the form on the site.About the Author:
For more Real Estate Learnings go to: RehabHardMoney.com
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