Interest rates on Hard equity/hard money loans are higher than for conventional loans. Loan amounts for Hard Equity/Hard Money loans typically are calculated on a maximum of 65% of the current market value of the property or of the purchase price.
With most hard money loans, the loan amount is based on the as-is house or lot value combined with repair or construction costs. An additional benefit of a hard money construction loan is that there is no minimum credit score. However, keep in mind that unlike hard money fix and flip loans, experience is essential for a new construction loan.
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For example, hard money lenders in California generally have lower rates than other parts of the country since California has many hard money lending firms. increased competition leads to a decrease in prices. Hard money lenders take on more risk with their loans compared to a conventional bank loan. Due to this higher risk involved on a hard.
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GCMAC is a family owned direct hard money lender (not a broker) based in San Antonio, Texas. With more than 30 years experience in equity based lending, GCMAC specializes in financing for individuals and companies whose needs are not fully met by traditional banks. Loan approvals have emphasis on EQUITY not credit and income documentation.
Hard money loans for real estate investors are essential for not only securing. can finance their real estate projects, outside of the traditional mortgage means.
Union Home Loan is a direct private money lender. Established in 1991, we have funded over $500 Million in loans. We lend on almost every property type from commercial, land, mixed use, residential, apartments, industrial, casinos, hotels, property Investment and unusual properties.
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Shop Home Equity Companies Offering Private and Hard Money Loans for All Types of Credit and Income Doc Scenarios. We will help you meet private money lenders that offer hard money loans and credit lines with short-term or extended term financing for investment, home construction, debt consolidation and bad credit refinancing.
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