Hard Money Loans to Invest in Palm Beach County Real Estate

What Is a Hard Money Loan?

If you’re interested in investing in Palm Beach County real estate, it’s worth looking into hard money loans as you decide how to finance your investment property purchase. A hard money loan is an alternative financing option that allows you to use the value of your property as collateral. It’s also often used as an investment strategy and can be quicker than waiting for a traditional bank or private lender. Monroe Funding Corp will lend with no credit checks, fixed payment amounts, and a simple interest rate.

Why Should You Get a Hard Money Loan?

• Hard money loan approval is much quicker than traditional loan approval. You can get the funds you need in a few days, whereas you have to wait much longer for traditional loans.
• Hard money loans have fewer requirements than conventional loans. Borrower equity and property value are the most important bases.
• Traditional bank loans are extremely risk-averse and have a strict lending criterion. On the other hand, hard money lenders provide funds that you can’t easily get anywhere.
• Usually, banks take months to review your loan application, but Monroe Funding Corp offers same-day hard money loan approval. If there’s an emergency, we can fund it within one day.
• Traditional banks will not finance property if it isn’t stabilized. Some examples include properties that need rehab, lack a Certificate of Occupancy (CO), or have poor rental histories. 
• Monroe Funding Corp considers the property value when funding a loan rather than the FICO score or debt-to-income ratio. We understand that circumstances can affect your credit score.
• Unless you want a loan in your name, a traditional bank likely requires you to own the property directly before approving a loan. Hard money loans work if you own many properties or you’d like to own the property as an LLC, and the bank cannot finance you personally.

If you’re still not sure whether a hard money loan is right for you, our Palm Beach hard money lender helps you understand how it can help with your real estate purchase.

Property Types Commonly Purchased With Hard Money Loans

Although hard money loans are for real estate investments, they can also be for properties such as:

• Multifamily blocks
• Single-family investment properties
• Condominiums
• Retail properties
• Office buildings
• Industrial and warehouse
• Hotels and motels
• Special purpose and mixed-use
• Parking garages and lots
• Land

When you’re ready to start investing, decide which real estate markets you want to focus on. Is it Boca Raton, Boynton Beach, or West Palm Beach? Once you choose, we can get started.

Why Should You Come to Monroe Funding Corporation?

Monroe Funding Corporation offers short-term loans that help fund your local real estate acquisition. These funds come from private investors, unlike conventional loans that come from banks or credit unions.

Come to our hard money lending company in Palm Beach, FL and experience our difference from other lenders.

First, we provide faster approvals. Traditional loans may take at least a month, but we can secure a pre-approval within a day or two. And, if you meet all the requirements, we can secure your pre-approval in minutes.

Second, we don’t base your loan application on your credit history. Instead, we base it on borrower equity and property value. So, you don’t have to worry about your loan application getting shot down simply because of a week credit history.

Third, we have zero prepayment penalties. Traditional loans may subject you to prepayment penalties before the maturation date. But, this isn’t the case with us. You can finish all your payments any time before the due date — without prepayment penalties.

Finally, we offer flexible payment terms. Our team knows that your circumstances are totally different from other clients’ requirements. So, during the initial consultation, we discuss with you the most agreeable payment terms.

Call us at 954-419-3536 for Palm Beach hard money lending services, today.

Monroe Funding Corporation is your dependable hard money lender in Palm Beach, FL. We provide a speedy pre-application process and flexible repayment schedules. Come to our lending company and we’ll help you get the refinance you need for your local real estate investment. Call or send us an email, today.