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.
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.
.