02/23/2023
- [ 1 ] It’s Super Fast: Flipping homes is a time-sensitive business. Depending on how fast you submit the loan package items, you can have your loan in several days. It can take one to three months to secure a loan with traditional financing at times.🚴♀️
- [ 2 ] It Looks at Collateral, Not You: Hard money lenders are not interested in credit score.They are interested in how much value they see in the property since the property is the asset that is backing the loan.🏡
- [ 3 ] It’s Everywhere: Hard money lenders are often people who have funds parked in lower-yielding financial vehicles like CDs, stocks, or IRAs and are looking for newer ways to maximize their funds in higher yielding conduits, like lending on real estate.🫵
- [4 ] It’s Creative: With hard money, you can get funding on great deals that banks would normally shun. Promising investment properties that needs repairs, make them unsuitable for most banks, but perfect for most hard money lenders.🤩
- [5 ] It’s Flexible: Hard money lenders don’t have the same strictly-enforced guidelines to follow for their loan applications, so they are more willing to help creatively structure loans that work for the project.🦹
![- [ 1 ] It’s Super Fast: Flipping homes is a time-sensitive business. Depending on how fast you submit the loan package ...](https://img5.financial1000.com/443/031/119139324430316.jpg)
