What Is A Hard Money Loan?

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:

818-226-6100

dorothyreik@bankersgroup.us

Home Mortgage Refinance

Chryssa Lightheart. Topanga Real Estate Agent.

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Likely before you came to Bankers Group, you were shopping around for a home loan in Los Angeles County to help you get the best financing deal on the market.

A mortgage whether it’s a home purchase or refinancing is a product just like a car. The price and terms may be negotiable. Shopping, comparing, and finding your way to Bankers Group may have saved you thousands of dollars.

 

Refinance Your Home Mortgage At Bankers Group

Bankers Group is a mortgage broker center working in the Los Angeles County area. As brokers, we arrange transactions rather than lending money directly. In other words, we find a lender for you. Our access to several lenders translates to a wider selection of loan products and terms from which you can choose.

Maybe you were searching the Internet for a way to refinance your existing los angeles county home loan. Because refinancing involves many of the same steps you followed to get your current mortgage, the refi road may seem familiar. You may, however, face a few additional steps and different types of expenses.

To refinance means paying-off your current mortgage and taking out a new loan.

Homeowners opt to refinance for a multitude of reasons, but the most common is obtaining a lower mortgage interest rate to lower monthly payments. However, some other popular reasons to seek out a refinancing solution are building equity faster, changing a loan type to taking advantage of an improved credit rating or drawing on already built equity in the home.

To help determine if you’re ready to refinance on a home loan in Los Angeles county, contact Dorothy Reik directly at Bankers Group:

818-226-6100

dorothy@bankersgroup.us

 

Land Loans

topanga, land loans, real estate, home loans, bankers group, © 2018 Kriss Perras

 

Land Loans: Malibu, Topanga, Calabasas 

The Bankers Group mission is to help you secure the best financing terms for your land loan purchase in the greater Los Angeles area. If you’re looking for a real estate purchase of land, there’s a different set of requirements for buyers interest in land loans than for those who need a conventional home mortgage. 

If you’re looking for land in areas like Malibu, Calabasas and Topanga where you could build your dream home, Bankers Group has the right land financing choices for you.

If you’re not yet ready to build, you can use our lot loan program which offers both fixed rates and adjustable rates and can finance up to 90 percent of the loan to value. Available too are stated income loans and fully documented loans.


Land Loans Financing

 

Funding a Land Purchase — Some key understandings to keep in mind for land loans are as follows:

 

  • Lenders need surveyed boundaries to issue a loan on land.
  • Check the property’s zoning and land-use restrictions.
  • Check the property’s access to utilities and public roads.
  • The more improved the land—build-ready lot, unimproved lot, raw land—the lower your borrowing cost.


Terms of Land Loans

 

Land loans are relatively short term loans, lasting two to five years before a balloon payment is due. Longer term loans exist. A conversion to a longer term loan can be done too, especially if you’re building a residential home on the property. If the property already has street and utility access, this makes for an easier approval process for that property.

For more information contact Dorothy Reik directly at: C: 310-291-1300, 310-455-4050 or 818-226-6100 or dorothy@bankersgroup.us