Forex Binary News
by Daniel Hall
March 6, 2018 2:23 pm
Buying real estate as an investment can be an emotional experience. After all, you may have a lot of money already invested in a property through earnest money, third party reports and more. You may also have high hopes of turning an incredible profit through your investment strategy for the property. Clearly, you have a lot to lose if you do not find the right financing for your project, and it can be devastating to learn that your project cannot be funded through a bank loan. You may think that no bank will touch your loan request, and this may actually be true. However, a hard money lender may provide you with the funding that you need to move forward with the project.
What Is Hard Money?
You may have heard about hard money loans in passing, and you may have heard that they have very short terms and high interest rates. These two facts may have kept you from researching hard money loans any further. After all, why would you apply for that type of loan when a bank loan has a longer term and a lower interest rate? The answer is because banks will not fund all loan scenarios, and this includes loan scenarios that could result in a huge profit for you. Bank loans are institutional financing products that must comply with pre-established loan terms and guidelines. If not, the loan request is declined. Bank loans offer no flexibility. Hard money loans are private loans, and this means that a private lending company or even a private individual investor have the freedom and flexibility to determine if your loan request has merit. They are lending their own money, and they see issuing a loan to you as an investment opportunity. They are just as eager to fund a reasonable deal that makes sense as you are to take out the loan. Full Article
Contact Dorothy Reik directly at Bankers Group to get the best mortgage interest rates: