//What Type of Deals Should Hard Money Loans Be Used For?

What Type of Deals Should Hard Money Loans Be Used For?

Hard Money Loans is not for everyone. When purchasing a primary residence with good credit, income history, and there are no issues such as a short sale or foreclosure, conventional financing through a bank is the best way to go if the borrower still has time to go through the lengthy approval process required by a bank.

Hard money is your source of financing when banks are not an option or the loan is needed in a short period of time.

So, what type of deals should Hard Money Loans be used for?

  • Fix and Flip Loans
  • Land Development Loans
  • Construction Loans
  • Multi-Family Residence
  • Commercial Property
  • Direct Private Money Lending
  • Quick Bridge Loans
  • Non-Recourse Real Estate Loans
  • Construction Loans
  • When the Buyer has Credit Issues
  • When a Real Estate Investor needs to get quick funding

Real Estate investors go with a private lender for many reasons. Such as the ability to fast funding. In most cases, hard money loans can be funded within a week. Whereas conventional banks takes up to 45 days to fund the loan. With a Hard Money Lender, you can even get same-day approval. Good luck hearing back about a loan approval from a conventional bank within the week.

When a Real Estate Investor is trying to acquire a property with competing bids, a fast closing with a hard money loan will get a seller’s attention and set their offer apart from the rest of the buyers, thus the ability to obtain funding at a fast rate than a conventional bank is a significant advantage for Real Estate Investors.

Call Taylor Made Lending, LLC today for a free consultation! (954) 614-5109

By |2019-01-10T20:53:36+00:00December 5th, 2018|Press Release|0 Comments