Hard Money Is Fast And Easy Money

Those in the flipping houses business just love using hard money primarily for one simple reason: hard money is fast and easy money

. House rehabbers, nowadays, rarely go to traditional lenders to finance their businesses. Who could blame them? It is much easier to secure funds from hard money lenders.

In flipping houses, time is of essence. Make a home owner wait and he might sell the fixer upper to another buyer. Borrowers know this. That is why they do not mind the high interest rates imposed by hard money lenders. Hard money loans are approved in just days. Those who have very good relations with lenders can even get loans in as fast as two days. Thats fast access to needed cash to save a good deal and an opportunity to make more money.

Banks and traditional lenders take much longer time when processing applications. They must check more documents and consider several factors whenever assessing borrowers. The result? At least 30 days of processing an application.

Hard money loans are approved (or rejected) faster because lenders in this business do not consider the creditworthiness of a borrower. Instead of checking a lenders credit score, they look after whats in it for them if they approve the loan. Hard money lenders only assess the profitability of a deal a borrower would want to close using hard money. If lenders see the potential of fixer upper to make positive returns, then the loan will be approved. The sooner they grant the request, the sooner the deal is closed and the sooner they get profits from loan.

Hard money lenders also operate on their own most of the time. If the lender agreed to your cause, you will get the loan. Banks and other traditional lenders, on the other had, usually use teams to process applications. These must get the approval of several bank officials before they are released. Banks are not trying to slow down the process, they just have to carefully check things to ensure their survival. Carelessness could lead to their bankruptcy.

More and more rehabbers are opting for fast and easy financing. You can check RehabHardMoney.com if you want to find the lender that will cater to your specific need in your area. Visit RehabHardMoney.com and fill out a form to pre-qualify for loans. Everything will be a breeze after signing up at RehabHardMoney.com.

by: Carrie Dawson

POST COMMENT

How To Buy Real Estate Property In India At Amazing Prices? How To Make Real Estate A Lucrative Investment Option? Hard Money Lenders: A Test For Rehabbers Choosing Right Property Management Companies For Your Property The Challenge Of Getting Rehab Hard Money The Foreclosure Basics - Short Pay (section-i) Place4u - Uae Provide Mutual Fund Schemes For Investors Buy The Best Home In Fort Lewis Buy The Most Beautiful Riparian Chalet In Canada; Take Help From Waterfrontsite! Commercial Real Estate - Finding Good Deals On Commercial Real Estate To Flip Or Not To Flip - Real Estate's Risky Business Real Estate Investment Strategies: Where To Begin? Townhome - A Place Of Fulfillment