About hard money loan

People are taking hard money loan when they have no other choice. When you want to get a hard money loan then you should take high risk also. 

Before taking a hard money loan you should have fresh idea about that.

Hard money loan means a specific type of asset-based loan financing through which a borrower receives funds secured by the value of a parcel of real-estate. It is usually issued by private investors or companies. Hard money loan which is also known as "equity loan", "trust deed investment loan", "private loan", "private investors loan".

This is typically issued at much higher interest rates than conventional, commercial or residential property loans. Conventional loan is usually for 15-40 years and hard money loan is for few months or few years only. The interest rate of hard money loan is different from bank loan.

It is dependent on real-estate market and hard money credit. As of 2008 and for the past decade hard money has ranged from the mid 12%–21% range. When a borrower defaults they may be charged a higher "Default Rate". That rate can be as high as allowed by law, which may go up to or around 25%–29%. Sometimes hard money lenders are given to borrowers 65%-75% LTV. For example: if any property is worth $100,000, then lender would advance $65,000 - $70,000 against that property.  You will get all information about interest rate of hard money loan just visit: hard money rates

Hard money loan have some benefits-such as people can get it easily though they have bad credit, small income etc, lenders will give them some short and simple condition which is better than bank’s condition and people can get it anytime and anywhere as they want.

You may find many hard money lenders in online. Most of the lenders are illegal, unverified and not registered. You can easily cheated  by any hard money lenders if you are not conscious about that.

One of the best website for hard money loan is www.lendinguniverse.com. Because here you will get more benefits from other website or lenders.
 In Lending Universe Inc, you will get 10000 hard money lenders. All are registered and able to give you loan anywhere and also within short time. You can buy and sell your property from here. Want to build an attractive home need an architect, no problem get highly experienced architect from here. Have a beautiful home but need a home designer, take world class home designer from here. In this website you can also get real-estate loan, appraiser, credit card, home inspector, home insurance, real-estate agent, notary public, moving company, cleaning services etc. 

If you need hard money loan or other support you can visit here: www.lendinguniverse.com.

                                             

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