Signs You May Need a Hard Money Loan

Are you unsure if a hard money loan is what you need to manage your financial situation or purchase the home you been considering? There are a couple of signs that may help with determining whether you need hard money lending.

You require quick money. Maybe you’re an existing homeowner and you’d like to purchase a second home to use for summer vacation. You noticed a great deal on a lakefront property but you need the money as soon as possible so the deal does not pass you by.

Flexibility is necessary. With a hard money loan, there is lots of room to iron out the details so that you and the lender can come to terms on a mutually beneficial loan compared to the stringent terms of a conventional lender. Interest rates, the loan-to-value ratio, all of these are customized to the borrower with a hard money loan.

You have short term needs. A hard money lender is great for a short term loan because you can receive the money quickly to use as you need it. This may allow time to obtain financing for a different, long term necessity.

This update is by hard money lending 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 FL or hard money loans Miami, please call 954-816-0388 or fill out our application.