Improve the Appraisal
The appraisal is an important part of the refinancing process. Investors need the reassurance that the home value is well above the refinance level. Chances are they won’t accept loans for values too close or even above the appraised value of a home. There are steps...
Is It Worth Paying Cash for a Property?
Many homeowners look forward to the day their mortgage is paid off and their home belongs to them, free of debt. Some people may be able to pay cash for the home and own it free and clear from day one. While not many can pay cash for a home even if they wanted to, it...
What’s the Best Way to Finance?
Buying a home means having to make several important decisions. Among them, you’ll need to figure out how you intend to provide financing. This often means choosing between cash or applying for a mortgage. Buying a home with cash has its benefits if you have the means...
Dealing with Condo Loan Requirements
Traditional mortgage lenders may require you to go through several hoops if you’re interested in purchasing a condo. Besides the general qualifications, they may also take a close at the condo association. Because condos remain popular as rental purchases, a high...
Buying a Home with Poor Credit
Ever since the issues with the housing market circa 2008, traditional lenders have upped their mortgage lending requirements substantially. If you have defaulted on a previous loan, if you have unpaid credit card bills, if you owe child support, collections, unpaid...
Increase the Odds of a Successful Flip
Flipping a property when the time is right can reap significant rewards, anywhere from a ten to fifteen percent return on investment in some cases. Flipping combined with the flexibility of a hard money loan presents a great opportunity to become acquainted with real...
Is It Possible to Secure a Hard Money Loan If There Is No Real Estate?
A hard money loan is typically secured using real estate. This begs the question, “Is it possible to secure a hard money loan without the use of real estate?” There is no definitive yes or no to the question as it will depend on several circumstances.A fundamental way...
Comparing Hard Money and Soft Money Loans
There is the common term “hard money” which most people are familiar with and then there is “soft” money, which may not seem quite as familiar. These two share a few similarities, but there are also significant differences. Let’s take a brief look at the two and how...
Expedite the Fix and Flip
You’ve secured the hard money loan funds for a fix and flip. As an investor, time is of the essence as it can affect the bottom line because of factors like loan interest payments, changes in the market, or property taxes. Furthermore, the project risk increases as...
Avoid These Hard Money Lending Mistakes
As more people choose to go the hard money lending route versus dealing with the hurdles of a conventional loan, prospective borrowers must do their homework and avoid common mistakes. Let’s explore two of these. For starters, borrowers should have a solid foundation...
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