Banks still set strict loan guidelines for both individuals looking to purchase a home and real estate investors who want to flip properties or become landlords. From high income requirements and minimum credit scores to lengthy approval and closing processes, banks make have made it extremely hard to find a simple loan for anyone. Consumers and investors are now turning to an alternative source for their real estate financing needs.
The Future of Real Estate Lending
Real estate lending has progressed from traditional bank financing to private money loans over the past few years. Consumers and real estate investors can now look to these new types of loans for real estate because they offer an easy approval process. Private loans are also effective because the closing period is significantly shorter than traditional mortgage financing.
The Benefits of Using These Types of Money Loans
Private money loans offered at www.shermanbridge.com come with many benefits that make them perfect for any home buyer or real estate investor:
• Fast Process - In most cases, loans are approved within 30 seconds and the money is available for funding after only seven days.
• Low Rates - Banks are still charging outrageous fees for mortgages, but these types of loans feature low interest rates that are below most other lenders in the industry.
• Flexible Use - Private loans can be used for a variety of real estate needs, from home ownership plus repairs to investment deals, property rehabilitation and more.
Flexible Repayment Terms for Anyone
Real estate is a tricky business and not every deal is processed as planned. Private loans are perfect for real estate investors because they offer flexible repayment terms that traditional lenders do not.
In general, most hard money loans are offered on a short term basis so real estate investors have time to fix up the properties they purchase and then attempt to sell them at a profit. If, for some reason, the repairs aren't completed in time or the investor is unable to find a buyer right away, they won't have the money on hand to repay the loan when it comes due.
Hard money loans solve this problem. Repayment terms are flexible and investors aren't required to extend the loan for 30 years at a very expensive interest rate.
The Future of Real Estate Lending
Real estate lending has progressed from traditional bank financing to private money loans over the past few years. Consumers and real estate investors can now look to these new types of loans for real estate because they offer an easy approval process. Private loans are also effective because the closing period is significantly shorter than traditional mortgage financing.
The Benefits of Using These Types of Money Loans
Private money loans offered at www.shermanbridge.com come with many benefits that make them perfect for any home buyer or real estate investor:
• Fast Process - In most cases, loans are approved within 30 seconds and the money is available for funding after only seven days.
• Low Rates - Banks are still charging outrageous fees for mortgages, but these types of loans feature low interest rates that are below most other lenders in the industry.
• Flexible Use - Private loans can be used for a variety of real estate needs, from home ownership plus repairs to investment deals, property rehabilitation and more.
Flexible Repayment Terms for Anyone
Real estate is a tricky business and not every deal is processed as planned. Private loans are perfect for real estate investors because they offer flexible repayment terms that traditional lenders do not.
In general, most hard money loans are offered on a short term basis so real estate investors have time to fix up the properties they purchase and then attempt to sell them at a profit. If, for some reason, the repairs aren't completed in time or the investor is unable to find a buyer right away, they won't have the money on hand to repay the loan when it comes due.
Hard money loans solve this problem. Repayment terms are flexible and investors aren't required to extend the loan for 30 years at a very expensive interest rate.