Avatar's Blog
» Three Questions for Hard Money Lenders
Posted on 6/1/2005
Posted in Miscellaneous
When determining whether to fund a hard money loan, Avatar Financial Group asks three basic questions:
- Is the value of the property sufficient to provide collateral for the loan?
- Is the borrower able to afford the monthly payments?
- Does the borrower have a workable exit strategy?
All the questions, documents, supporting information, and due diligence surrounding a loan revolve around these basic questions, as well as, of course, the proper legalities of the funding of a commerical bridge loan in each state. Stya focused on these questions as you review your loan request to get a good idea of whether your loan package contains the information that will enable a hard money lender to approve your loan.
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