Hard money loan
Everybody wants to have much money for
their luxurious life. For their luxurious life they start many types of work.
But everybody have not so much money for their work. In that case people are
taking loan from bank, organization, private investors etc.
There are many
kinds of loan-Such as home loan, real-estate loan, mortgages loan, fix and flip
loan, construction loan, small business loan, commercial loan, land loan, SBA
loans etc. Many people are taking hard money loan also. This loan is different
from other loan.
- Some questions about Hard Money Loan--
Ø What is hard money loan?
- Hard money loan are supporting-based real estate loans made by private investors instead of banks. It is also known as "equity loan", "trust deed investment loan", "private loan", "private investors loan".
Ø Which loan is easy to get-bank loan or hard
money loan?
- No doubt about hard money loan. When you apply for a loan from bank, bank will verify your credit, present income, where you invest that money, how much profit from there etc. On the other hand you need not to worry about hard money loan. Although your bad credit, income etc-you can easily get hard money loan. You will get upto 65%-75% LTV(loan to value) from hard money lenders.
Ø Which people want to take hard money loan?
- Basically, which people have no credit, bad credit, have a past home foreclosure, not verified income and want to get loan very fast
Ø What is the interest rate of hard money loan?
- Interest rates of hard money loan rates are normally higher than bank loan rates. It can be two to six percent higher and in some cases even more.
Ø Hard money loan duration?
- Hard money loan is a short time loan. This is valid for few months or years only. Though, it is depend on hard money lenders.
Ø Condition for hard money loan?
- Condition for hard money loan, is very simple and easy. When you talk to hard money lenders then they will give you some easy and simple conditions. You must follow the conditions.
Ø How much time needs to get hard money loan?
- People can get hard money loan anytime and anywhere. Though, it is dependent on lenders choice. But you will get hard money loan very fast from others.
Ø Where get hard money lender?
- Finding a verified hard money lender is difficult. In internet you can get a huge collection of hard money lender. They are always ready to give you loan. Before taking loan you just need to verify them.
Ø How to get verified hard money lender?
- Only few website have verified hard money lender. Lending Universe Inc. is One of the best believable website for hard money loan. Here you will get more than 10000 verified hard money lenders. Who will be able to give you loan anytime, anywhere.
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