What are hard money lenders
what are hard money lenders?
Hard money lenders are private individuals that are lending their personal money to real estate investors, it can be through hard money brokers, mortgage brokers or doing it them selves. In order to qualify for private loans with direct hard money lenders, you will need to have equity in your property.
Advantages of using hard money lenders or private lenders?
1. No credit check needed
2. No income verification or 4506 needed.
3. No appraisal needed.
4. Fast funding, you can get your money in just 3 days.
Disadvantages of using hard money lenders and private investors money?
1. Higher rates
2. Higher fees
3. Shorter terms for the loan
Many are asking what are hard money lenders and how they can qualify with a hard money lender for a loan, one way you can do that is contact us for help and we will guide you before you make any decisions.