A Best Private Money Real Estate Loan is type of asset-based loan financing through which a borrower receives funds secured by real property. Private Money or Hard Money loans are typically issued by private companies and /or private investors. These loans offer many advantages such as quick closes of escrow, temporary financing to get ownership of the property, great option for people with less than good credit, and out of the box financing.
What type of loans is a Best Private Money Real Estate Loan?
Ground Up Construction
Fix and Flip
1-4 Unit Residential Purchase
Cash Out Refinance
Commercial
What Are the Rate and Terms of a Best Private Money Real Estate Loan?
Best Private Money Real Estate Loan have terms are normally 12-36 months but can be longer. Rates are typically between 7-12%, but can vary due to type of asset, Loan to Value, and use. Mostly with interest-only payments so the month payment is low to make sure the payback to the investors. Fees charged on hard money loans will generally include 2-5 origination points, but also can vary on a case by case basis.
Private Money loans are a powerful tool for real estate investors. They are quick and flexible, providing same-as-cash purchasing power. Hard money loans are also the most viable option for financing renovations or other value add projects.
If you would like to discuss your private money options, please give Adam Lawrence today at 858-344-0323.
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