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Private hard
money offers options that may not be available through banks or
institutions. Private hard money lenders are mostly concerned about the
value of the real estate being used to secure the loan, with
credit typically being a secondary factor.
With enough
real estate equity, private hard money loans can overcome many
credit issues, major and minor.
Private hard
money loans are typically placed with individual investors, or
multiple investors "fractionalizing" a single loan. These
investors typically want to realize a double digit return on the
money they loan, so most private hard money loans will carry an
interest rate that can range from 10% to 14% or more.
Private hard
money loans are typically written for anywhere between one and
five years, and can be amortized or interest only loans.
Most private hard money loans made in today's market are for
business purposes, with financing for consumer purposes being
much tougher to secure.
When dealing
with private hard money, you have the ability to present your
transaction one on one.
Qualifying for
a private hard money loan is pretty straight forward. Depending
on what type of loan you are in need of, the documentation
required can differ.
If you would
like more information, or have a scenario that needs private
hard money, please complete our
private hard money loan form or call us directly.
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