Money is very important in human life. No man can enjoy a comfortable life without enough money. Money is ensuring to enjoying a comfortable life. We can eat food, live in a comfort room and also can get medicine when we fall in sick. Money is full filling our every natural requirement. People are doing many things to earn money. Many people are doing business and many people are working on other’s farm. Doing business is better than to be an employee. To start a business, there is a huge demand of money. To obtained huge money people are firstly focusing on their deposited fund. But there are many people who are unable to make fund through their deposited fund. And for this reason, neighbors, friends and relative people are their second choice to make a business fund. But sometime this friends, neighbors and relatives are denied to provide money. And sometime they are wanted to provide money but they are unable to provide money for not having so much money. In this case, loan is the last weapon of getting fund for business. Banks, NGO farm, financial organizations and private money lenders are the sources to get fund for business. Banks, NGO farm and financial organizations are following government rules and guidelines. And for this reason there are many restricted to get loan from them. Hard money lender is better than all of this. Hard money loan is popular in every sector. Commercial business is depending on hard money loan effectively.
Hard money loan is so much popular in residential sector. It is a kind of loan in which borrowers get loan based on the value of real estate collateral. Although banks are providing loan with less cost and fees, people are choosing hard money lenders to make loan. Traditional baking loans are depending on not only the value of property but it is also depending credit score, income tax, income statement of the borrower and the guarantor agreement. Hard money residential loan is also known as a bridge loan. Normally you will identify that hard money lenders are taking interest rate and point which are 50% to 100% higher than traditional bank loans. But it is also true that hard money lenders are taking those risks which banks cannot afford. They have a big role in residential sector. They are financing on residential sector from many years ago.
Many real estate agents and businessmen are choose hard money term because there is lower requirements to qualify. A hard money loan can be approved with less documentation when banks and other conventional lenders are asking for huge documents to approve a loan. Residential hard money loan can be obtained earlier than traditional residential loan. A man can obtain residential loan within 1 to 3weeks when he needs more than 1 month to obtain loan from conventional lenders. Thus it has been so much popular in the world for speed funding. Residential sector is a big sector in the world. Most of the real estate business man need huge amount as loan. Hard money lenders can assure the huge amount of loan. The size of loan is varying on the value of the property that you have. Typically hard money lenders are providing 70% after repair value (ARV) of borrower’s property.
Hard money lenders are also well known for lending money on the property which has no tenants or renter. There are many people who are investing on a property which have no tenants or renter. Normally banks and other conventional lenders are not lending money on that type of property. But hard money lenders are lending on that type of property and they are also giving a range of time to borrowers to lease up the property.
Many real estate agents and businessmen are choose hard money term because there is lower requirements to qualify. A hard money loan can be approved with less documentation when banks and other conventional lenders are asking for huge documents to approve a loan. Residential hard money loan can be obtained earlier than traditional residential loan. A man can obtain residential loan within 1 to 3weeks when he needs more than 1 month to obtain loan from conventional lenders. Thus it has been so much popular in the world for speed funding. Residential sector is a big sector in the world. Most of the real estate business man need huge amount as loan. Hard money lenders can assure the huge amount of loan. The size of loan is varying on the value of the property that you have. Typically hard money lenders are providing 70% after repair value (ARV) of borrower’s property.
Hard money lenders are also well known for lending money on the property which has no tenants or renter. There are many people who are investing on a property which have no tenants or renter. Normally banks and other conventional lenders are not lending money on that type of property. But hard money lenders are lending on that type of property and they are also giving a range of time to borrowers to lease up the property.
There are many businessmen who have the property which are in remote areas. They are facing problem at the processing time of loan. But if you apply through Lending Universe Inc. then you will get the chance to apply with any type of property. It does not matter where your property is. You can apply from any state and country of the world. You can apply from here without your social security number. An application for a hard money real estate loan can be complicated and long. But Lending Universe Inc. has short and easy form which can be filling up within 2/3 minutes. Lending Universe is also offering another great service and which is the loan control center. It is helping borrower to control the processing of his loan. This service is available till borrower will close the loan. It is a great tool for any borrower. Lending Universe Inc. is platform of borrowers, lenders, brokers, appraisers and real estate agents. It is a large network of hard money loans and lenders. You can also access their largest database smoothly. You will find about 10177 verified hard money lenders to lend you money within 7 business days only. Here you also could find about 17205 registered loan brokers. Here are also about 17663 registered and qualified appraisers to evaluate your property accurately. You also could find about 15593 real estate agents from here.
RSS Feed