According to FICO, approximately 43 million Americans have a credit score of 599 or less. Your credit report and history can have a significant impact on your financial life. Real estate investors with low credit ratings may find it hard to secure traditional mortgage loans to finance their business. Hard money lenders are touted… Read more »
Debunking Common Myths About Hard Money Loans
Among the many financial products, hard money loans are some of the most misunderstood. But there is no reason to allow mistruths and myths to continue about hard money loans. Yes, hard money loans can be more costly than other collateralized products (like traditional mortgages or home equity loans). But the reality is hard money… Read more »
5 Common Questions About Hard Money Loans
If you’re an aspiring real estate investor, chances are that you’ve heard of private lending and hard money loans. There are a lot of reasons why real estate investors are typically advised to seek these types of mortgage loans over others, especially when they’re just starting out. While traditional mortgage loans may have their appeal,… Read more »
What Is Hard Money Lending and Is It Right for You?
According to the 2018 Planning and Progress Study by Northwestern Mutual, the average American has about $38,000 of debt, excluding mortgages. It comes as no surprise that 68% of the population has bad credit ratings. Access to traditional loan options is now harder than ever before. More real estate investors are turning toward hard money… Read more »
7 Must-Know Facts about Hard Money Lending
The hard money loans industry dates back to the 1950s when the U.S. economy experienced an overhaul in the consumption of loans. Several decades down the line, the industry has grown to be what it is today. Currently, Atlanta has approximately 50 private lenders operating within the city. The rapid increase in the number… Read more »
Why Hard Money Loans are Reliable Financing Options
Purchasing and renting out homes is an effective way to maintain a substantial flow of income. However, getting to the point of owning a home is a hectic process that requires alternative financing options. On average, every adult American has a debt of close to $38,000. Banks are using this credit record to deny… Read more »
Hard Money Loans Can Be Right for Your Situation
If you are looking for hard money loans, Georgia has the lenders that are ready to fund those loans. Hard money loans Georgia residents have found can be the ideal solution in many different situations. A hard money lender has fewer rules than other lenders, and they offer more wiggle room if you have… Read more »
A Guide to Help You Understand Hard Money Loans
Mainstream banks impose very stringent requirements for anyone applying for a personal loan. Credit history tends to be the main let-down for the majority of bank loan applicants since the majority of financing institutions require a flawless credit history. The implication is that a late payment on a past loan can be sufficient grounds to… Read more »
4 Benefits of Taking Out a Hard Money Loan
Private lending is a business model in which one company lends money to people and other companies that are having trouble getting their loan requests approved by conventional loaning services. Recent studies have shown that more than 80% of businesses that fail to get a loan are denied because of inconsistencies in their cash flow…. Read more »
5 Reasons Hard Money Loans May Be a Better Option Than Traditional Bank Loans
In some respects, bank loans are similar to hard money loans. They both require a willing lender who takes a security interest in collateral to fund the loan. Both loans must be repaid to release the security interest and retain ownership of the collateral property. However, in other respects, hard money loans are very different… Read more »