Hard Money Mortgage Loan
The landscape of todays real estate industry has been under constant change since the mortgage meltdown of 2008. With questionable legislation being put into place, along with the tightening of credit, the hard money mortgage loan has come to the forefront as being a dependable alternative form of financing for borrowers and investors today. A “hard money mortgage loan” when referred to in real estate financing, is frequently interchanged with a “no doc” or private loan. For a hard money loan, the lender bases their underwriting decisions on the borrowers’ hard assets (real estate). Hard money lending plays a critical role in both the stability and volatility of the real estate market. Dating back to the housing market crisis of 2007, alternative mortgage financing options (specifically private financing such as stated income) contributed to the market meltdown as a result of unscrupulous lending of sub-prime loans. While hard money lies under the umbrella of private mortgage financing, it needs not to be associated with the destructive tendencies of irresponsible lenders.
Today’s hard money lenders like HML Investments offer a collection of alternative financing products, including hard money mortgage loans, that are designed to fit the needs of today’s borrowers looking for alternatives to conventional loans from institutional banks. The hard money mortgage loan products offered by HML Investments have terms involving up to 70% LTV with interest rates ranging from 8-14%. When utilized properly, investors will find that hard money represents a viable tool for acquiring the capital and funding to move ahead with commercial real estate projects.
Contact HML Investments today to speak with a specialist about starting your hard money mortgage loan application today.