Hard Money Loan - Real Estate Investing Using Hard Money Loans

dmovid01 2011-06-09

Views 25

http://www.REIClub.com - Hard Money Loans Are a Valuable Tool for Investors. Here Are Advantages and Disadvantages of Using a Hard Money Lender To Get Your Deals Quickly Funded and Closed.

What is it?
Historically, hard money loans were purely equity-based, meaning loan approval rested on the details of the deal and the property. However, due to losses suffered, the industry moved toward requiring decent credit scores and down payments to reduce their risk.

Why use it?
- easier to qualify
- shorter term loans
- quick close
- buy junkers
- higher loan amounts
- interim financing

Terms

- points
- rates
- payments
- length
- LTV
- repair draws

Qualifying

- significant equity
- credit score
- cash on hand
- down payment
- minimum loan amt
- paperwork

How to find?

http://www.reiclub.com/hard-money-lenders.php
- Real Estate Clubs
- Title Companies

Please take the time to leave your comments for this video below. Take care and good investing.

Share This Video


Download

  
Report form