Basic of hard money loan

1
Basic Of Hard Money Loan
2
Hard money lenders

• There are many sources to get loan for a business
  and residential indeed. Banks, NGO farm,
  financial organizations and private money lenders
  are lending money. Private money lenders are
  different than others. Private money lenders are
  also known as hard money lenders. 

3
What private money lenders giving

• They are providing hard money loan. Hard money
  loan is known as a non-conventional loan. This
  loan is not made by traditional bank. There are
  no effects of government rules and guidelines in
  hard money loan. It has over 50 years history.
  People are using this term from 50 years ago.
  Real estate businessmen are funding through three
  ways. These ways are banks, intermediate lenders
  and hard money lenders. There are many people who
  have no solid idea about hard money loan. And for
  this reason many people fear to use hard money
  term to arrange any fund. So, it is so much
  important to know about hard money loan deeply.

4
First process of hard money loan

• Hard money loan is a kind of loan which is based
  by real estate collateral value. A borrower is
  borrowing loan from hard money lenders using his
  real estate property as collateral. Property is
  playing the main role to making a hard money
  loan. Hard money lenders are providing loan on
  Loan to Value that means LTV.

5
2nd Process of hard money loan

• After repairing a property, the value of the
  property is make the amount of loan which he can
  obtain from hard money lenders. Hard money
  lenders are taking high interest which is not
  lower as banks and any other conventional ways.
  But it is also being accepted that hard money
  lenders are many taking risks which a bank cannot
  accepted. They are providing loan with bad or
  poor credit score. Less documentation needed to
  make the fund of hard money loan. They are also
  having the ability to speed funding which a bank
  not has. And the lower requirements of qualify is
  attracting people most. People who are facing
  home foreclosing or who need money urgently,
  mostly they are using hard money term to obtain
  loan. On the other hand banks and conventional
  lenders are not lending money on the properties
  which are also facing home foreclosing. You will
  be happy to hear that hard money lenders are also
  lending money on that type of property which has
  no tenants or renter. But banks and conventional
  lenders are not lending money on that type of
  property.

6
Timing of hard money loan

• A true hard money lender can fund within 7
  business days. Normally hard money lenders are
  funding a loan within 2/3 weeks. And this speed
  funding ability makes it different than others.
  Although this funding option is based on
  collateral value but if you will make sure to
  have a good credit score and income information
  then its will help you most to obtain the loan
  easily. A good planning can help you mostly to
  get hard money loan easily. You also can get more
  information about hard money loan
  from http//en.wikipedia.org/wiki/Hard_money_loan.
  Here you can know about the definition of hard
  money loan and the structure of hard money loan.
  Every issue of hard money loan is widely
  described here.

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Basic of hard money

• If you are looking for hard money lenders in your
  state then you can contact with Lending Universe
  Inc. It is a popular platform of hard money loan.
  Here you can find many registered and verified
  hard money lenders in their database to lend you
  money. If you apply for hard money loan through
  Lending Universe then you will get many bids from
  lenders according to your application. You will
  get your own loan control center and this service
  will be visible till close the loan. You also
  find here many registered loan brokers. Here are
  also verified appraisers to evaluate your
  property accurately. Here are also many
  registered real estate agents. From here, anybody
  can apply for a loan from anywhere in the world.