Avatar's Blog
» Hard Money Loans Don't Have to be Scary
Posted on 10/31/2004
Hard money loans are simply a form of commercial lending. Unencumbered by the myriad laws surrounding owner occupied residential real estate, hard money lenders can run wild and free with their rates, points, lending criteria and more.
But hard money loans don't have to be scary. When interviewing lenders (and you should), ask clear questions and keep a chart with answers:
* what is your maximum LTV? * what is your minimum/maximum loan? * what kind of properties get the best rates? * what documents will you need to see from me? * what is the term of your loans? * do you charge upfront fees? * when will I pay due diligence fees?
With answers in hand, you will know what to expect and how to prepare for a successful hard money loan.
Posted in Miscellaneous
But hard money loans don't have to be scary. When interviewing lenders (and you should), ask clear questions and keep a chart with answers:
* what is your maximum LTV? * what is your minimum/maximum loan? * what kind of properties get the best rates? * what documents will you need to see from me? * what is the term of your loans? * do you charge upfront fees? * when will I pay due diligence fees?
With answers in hand, you will know what to expect and how to prepare for a successful hard money loan.
Blog Navigation
