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Hard money land loan lenders are lending companies, or individuals, offering a specialized type of collateral backed loan. Private hard money lenders tend to lend short-term loans (also called bridge loans) that provide funding and or cash, based on the value of the collateral.
Real estate investing loans that secured by a "hard" asset, such as real estate is a hard money loan. You will find that hard money lenders come with higher interest loan rates frequently between 8% to 14% and have shorter terms around twelve months. They are often issues in days to weeks.
Hard money loans, on the other hand, are based on a "hard" asset or the value of the property, so hard money lenders don’t usually ask for documentation of income or any of that messy stuff when we are funding a fix and flip investment.
The main advantage of using hard money is that it is easy for a borrower to qualify since the equity in the property is the most important element.
Hard Money Lenders For Investment Property The qualifying process focuses on the equity in the property only. As opposed to personally qualifying the borrower. We analyze every deal on a case-by-case basis and approvals are based on the condition and location of the property and the investor’s particular needs. We are a hard money lender here to serve your investment borrowing needs.
With decades of experience in the investor community, we are not just Hard Money Lenders, but also licensed appraisers, landlords, wholesalers, and flippers. In short, we do what you do and more. Residential Real Estate Investing is something we are passionate about.
Most hard money lenders keep loan-to-value ratios ( LTV ratios) relatively low. Their maximum LTV ratio might be 50% to 70%, so you’ll need assets to qualify for hard money. With ratios this low, lenders know they can sell your property quickly and have a reasonable shot at getting their money back.
If your current credit, employment or asset situation won’t allow you to get a conventional Alabama loan or you can’t wait the typical 40 days to have your loan funded through Alabama conventional lenders – because you need your loan funded fast – consider a Alabama private equity or hard money loan.
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