Commercial Hard Money Loans for Bad Credit
Running into difficulty finding a loan for your commercial property? Is the reason being because you have bad credit? HML Investments has the solution for you. Commercial hard money loans for bad credit are being offered at HML Investments for individuals looking to finance their commercial property yet are unable to meet the standards set by institutional banks. Hard money is great for beginning investors who may not have money or for those who have bad credit and cannot qualify. Investors also use hard money when they need to purchase quickly.
Commercial hard money loans for bad credit are a great tool for financing real estate investment deals. Understanding its many attributes will help mortgage professionals convince potential borrowers that loans from private lenders make good business sense. Commercial hard money lending is also a useful tool for those with less than perfect credit history, those who are self employed, or those faced with foreclosure. Hard money loans are essentially short term “bridge” loans that serve to bridge the gap between times when financing is needed. This type of financing allows the borrower to meet current financial obligations by providing immediate cash flow. Due to the higher risks involved with private investors using their own capital, interests rates for commercial hard money loans for bad credit are higher than conventional loans. Hard money loan rates typically are between 8-14%. Hard money lenders value their loans based on the loan to value ratio (LTV), which is simply the value of the loan compared to the value of the property. Lenders such as HML Investments usually loan up to 70% LTV. In some cases, 100% LTV loans can be made.
Contact the specialists at HML Investments today for more information about commercial hard money loans for bad credit.