Finance Your Washington Real Estate Investment with An Easy-Qualify Hard Money Loan
Successful investors know that a long-term commitment to the real estate market is a proven wealth-building strategy.
Hard money lenders play an active role in helping many investors reach their goals. But the term “hard money lender” sometimes raise questions. What do these types of lenders do?
Hard Money Loans Aren’t “Hard”
Hard money loans are, in fact, a reliable financing option. When and why do real estate investors seek out hard money lenders?
The conventional loan process typically relies on rigorous guidelines and lengthy timeframes. Credit history and employment are required to qualify, and paperwork can be extensive.
Many real estate deals and property flips hinge on short turnarounds. If you need quick access to money or don’t want to pay out-of-pocket for property renovations, traditional lenders may not move fast enough. If your credit or employment history is an issue, they may say no.
Hard money lenders (sometimes called private money lenders) finance based on a borrower’s available equity, not a lengthy list of requirements. When considering house flips and renovations, private lenders typically base loan terms on a property’s after-value. The loan application and approval process is fast, and access to funds is quick.
Is a Hard Money Loan for You?
Hard money loans are a great option for investors looking for short-term funding. Whether you need financing for a house flip project, rental property, renovation, property purchase, refinance or bridge loan, an equity-based hard money loan can provide flexible financing.
Interest rates for direct-funded hard money loans are higher than conventional loans, since private lenders take on personal risk. But the customized terms, fast turnaround, and flexible financing they provide offer a reliable and fair financing alternative to real estate investors.
If you need quick access to cash for your real estate project, consider a hard money loan as an option.
Talk to Our Washington Private Money Lenders About an Equity Loan
Hard money loans take the “hard” out of the lending process. Washington private lender Gregory M. Russell offers equity-based loans that are are simple and streamlined. Is a hard money loan meant for you? Give us a call or complete our simple online loan request form to learn more and tell us about your loan needs. With over thirty years of experience in the mortgage industry, we know Washington real estate and are here to help. Call today. 1-888-477-0444.