If you want to borrow money without using traditional mortgage lenders, hard money is the way to go. Individual investors lend money based on the property value and how much the traditional mortgage lenders are willing to invest. Hard money lenders come in handy when traditional lenders will not approve a loan or if loans need to happen quickly. Depending on the type of loan situation, hard money lending can be a safe and efficient way to borrow.
Hard money lenders are focused on a collateral rather than your financial position so loans can be closed more quickly. Because lenders don’t want possession of your property or belongings, they won’t put you through a lengthy loan application process. This process can move quickly, offering you the ability to close the deal. Hard money loans are a good investment and are flexible because lenders don’t generally use an unwritten process. They will personally evaluate the individual and make adjustments on payment schedules and policies depending on your situation.
Hard money lending is a safe way to access money quickly without all the necessary paperwork that trail along with a traditional loan. For example, fix or flip loans in Denver are popular for investors who want to fix a home and sell it quickly. These kinds of loans are quickly paid while the investor makes a profit on the new fixed property. Homes that can be fixed up in under a year can benefit from a hard loan for a quick sale. Another great benefit to hard money lending is through business funding. Bridge loans, rehab loans, and short-term loans are all coupled together in commercial business funding. These loans make it possible for clients to achieve their goals whether through business or new home buying.
Lastly, home buyers who have poor credit can get a quick loan for a home and have the responsibility of paying within one year of the loan. This means there are no limitations due to your credit score because the process of application doesn’t necessarily look at your credit score as the determining factor.
A reputable hard money lender in Denver will make-or-break your money lending experience. Because there are many imposters who take advantage of borrowers, it’s important to thoroughly investigate the prospective lender before you decide. Bold Funding Group makes it possible for borrowers to receive their loan quickly and efficiently. They also offer fix and flip loans in Denver for investors and borrowers. Contact the trusted team today for more information about your hard money loan.