As in all other asset classes, real estate passes through market cycles. When the market is in great shape, property prices see growth, and the opportunity to secure a loan is usually made easier. AS you would expect, the reverse happens in poor conditions. When the market isn’t doing so great and property values decrease, it becomes more difficult to obtain a loan. With COVID-19, the process has become trickier again.
According to a Bigger Pockets article, you may have to depend on your network to fund your next deal or you may need to explore which banks are still willing to lend given the uncertain economic circumstances. You may also wish to seek the resources provided by a hard money lender like us, Monroe Funding Corporation. You won’t need to deal with the exhaustively long list of documentation requirements typically required by banks and you won’t need to wait several weeks for an approval response. We know time is key.
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This update is by hard money loans Miami company Monroe Funding Corporation, a direct equity lender serving clients throughout Central and South Florida. We specialize in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get you to the closing table quickly and professionally. For more information on hard money lenders Palm Beach or Orlando hard money lending, please call 954-816-0388 or fill out our application.