Advice About Hard Money Loans | Valor Lending Group
Valor Lending Group can help you with a HARD MONEY LOAN TODAY!
Valor Lending Group has had the pleasure of serving individuals all over the state of California!
We offer EVERY mortgage loan in the book!
There are many reasons to use hard money for your investment property needs whether you are looking for fast turn times, present a stronger position with your offer or have credit history issues, hard money lending may be a great choice for you or your team. Sometimes you need to compete against cash buyers or have had credit issues in the past.
Typically, lenders look at the credit worthiness and property asset when qualifying a borrower for financing. That can take time and also leave you without financing after all is said and done if you do not fit in their box of qualifications. That is where hard money cones in hard money lenders look closer at the asset more so than the credit worthiness of the borrower.
Here are just 3 reasons to use hard money if you are looking to build up your real estate portfolio this year:
1. FAST TURNAROUND TIME
The application and approval process for a standard bank loan or mortgage lender can be time consuming and tough.
It involves filling out multi-page forms and submitting supporting documents. With the number of requests banks get, it can take weeks for a lender to respond or approve them, and the property you want might be off the market by then.
On the other hand, applying for hard money loans takes much less time. Pre-approval can occur within minutes of speaking to a lender, and you can get funded within a fraction of the time it can take a bank.
2. STRONGER POSITION WITH YOUR OFFER
If a property is in high demand, the investor that has a hard money loan has the most to offer. Since hard money loans have a faster processing time and less red tape, there are fewer opportunities to fail with hard money.
Also, if a lender turns the buyer down for a loan, it will ultimately kill the deal. Hard money lenders, however, can provide quick financing when a bank pulls out of a deal so that you can save the deal and buy the property.
3. CREDIT HISTORY VS PROPERTY VALUE
When you want a loan from a bank or mortgage lender, they look at your credit scores and income history to decide if they will approve your request.
With a hard money loan, lenders focus more on the value of the property, instead of looking at credit and income. The property becomes collateral for the loan, in case you default.
This allows you to get a loan even if you don’t have the strong credit and income that banks require. HAPPY INVESTING!
Not sure where to get started with investor financing?
These were 3 reasons to use hard money for your investment property needs. I hope you found this informational. If you would like to take advantage of hard money and learn more about if it is the right route for you to go please call or email me today to discuss your scenario.
Ask yourself, is hard money right for you?
Contact us and we’ll be happy to answer any questions!
Valor Lending Group can fund your fast-hard money loan up to $10mm in as little as 7 days often without an appraisal.
I look forward to an opportunity to demonstrate my prompt and professional service.
VALOR LENDING GROUP OFFERS EVERY MORTGAGE LOAN IN THE BOOK
**Rates and terms subject to change without notice
For the most up to date mortgage news visit: Mortgage News Daily
Check out our GOOGLE REVIEWS
Did we miss anything?
- Call or Email me (Julius Morales) if there is any information that we have missed
- Follow us on Social Media
- Share this on your Social Media
- Do not hesitate to give us your feedback
- Ask us for a quote
- Visit our homepage to check out what Valor Lending Group has to offer
