How to Apply for a Hard Money Loan

How to Apply for a Hard Money Loan
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Our Washington hard money lenders make financing fast, simple

Having financing at the ready when the right property comes along is key to the success of anyone trying to buy real estate in a competitive market.

Traditional loan processes can be a hindrance in popular regions like Washington State, especially for investors, house flippers, or those with credit issues.

Hard money loans, also referred to as “private money loans,” provide a fast, flexible alternative to traditional funding sources.

What is a hard money loan exactly? Simply put, it’s a short term loan secured by real estate.

You’ve decided to apply for a hard money loan. Now what?

Applying for a Washington Hard Money Loan

Each hard money lender has their own loan guidelines and process to determine the profitability of a prospective loan.

Some will ask applicants for information including credit history, job history, assets and/or investment experience. Lenders will look at comparatives and inspect the property being used as collateral. Most require the property being loaned on to be unoccupied by the owner. Unlike traditional loans, the process will usually take no more than two to three weeks.

Gregory M. Russell is an equity lender and does not require applicants to qualify from a credit standpoint. Loan requests are completed by phone (no paperwork required!) and upon approval, loan papers are generally forwarded to your local title company for your signature within a week.

Call about an Equity Loan Today

Real estate forecasts show Washington State and the Seattle metro region remaining a top hot spot in the country. The housing market is highly competitive and smart investors have financing at their fingertips. Get the funding you need. It takes about 10 days upon approval to receive equity loan funds from Gregory M. Russell. Call us today: 1-888-477-0444.