Hard Money Lender

Access to capital has been simplified by the emergence of hard money lenders. These private financiers provide quick, reliable loans without extensive qualification processes – all backed up with real estate collateral. If you want to further your financial goals but don’t have time for lengthy applications, a hard money lender could be just what you’re looking for! Let’s take an in-depth look into this exciting way of financing and discover how it works so that we can help find the best loan arrangement suitable for your individual needs.

What is a Hard Money Lender?

Hard money lenders offer a unique option for those looking to purchase or renovate real estate. Rather than relying on traditional methods such as credit scores and income, these private lenders focus mostly on the value of the collateral used to secure loans – giving investors quick access to cash when needed most.

How Does a Hard Money Loan Work?

Hard money loans provide a fast and reliable solution for financing short-term projects. These types of loans are secured against real estate, allowing the lender to assess the value of your property and offer up to 70% loan coverage. The repayment periods may vary from months to years with higher interest rates than other traditional lending options – making them ideal for quick fix-and-flip investments or bridging needs.

How to Find the Right Hard Money Lender

Finding a reliable hard money lender can be an intimidating task, but with the right preparation and research it is possible to make confident decisions that will support your investment goals.

Start by asking for referrals from experts in the industry or other real estate investors; this may help you identify potential lenders quickly.

Once you’ve identified some contenders, do thorough online research on reviews from past borrowers so get insight into their experience working with that particular lender.

Make sure they have expertise in providing loans of your type and explore specific details such as interest rates, fees associated and repayment schedule before making a decision.
Finally compare multiple offers to guarantee optimal terms at competitive prices!

Hard Money Loans

CoreVest Hard Money Loans

  • Single rental property

  • Long or short term leases

  • Single-family, 1-4 units, condo, townhome

  • $75k – $2M+

  • Up to 75% of value

  • 30-year term

  • Purchase or refinance

  • Foreign nationals eligible

  • Nationwide lending

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Q: What is the difference between a hard money lender and a traditional lender?
A: Hard money lenders provide loans based on collateral, while traditional lenders rely on credit scores and income.

Q: What types of properties can I use as collateral for a hard money loan?
A: Hard money lenders typically accept real estate as collateral, including residential and commercial properties.

Q: How long does it take to get a hard money loan?
A: Hard money loans can be approved in as little as a few days, depending on the lender.

Q: What are the interest rates for hard money loans?
A: Interest rates for hard money loans are typically higher than traditional loans, ranging from 8% to 15%.

With the real estate market becoming increasingly competitive, finding a fast and reliable source of capital can be critical for investors. Hard money lenders provide an advantageous option by offering quick approval based on collateral such as property equity. To secure the most favorable loan terms, it’s essential to take time researching options and obtaining referrals from experienced real estate professionals before making your choice.

Together We Grow

CoreVest continues to grow with our borrowers and remain active participants in the industry

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