Avatar's Blog
» Hard Money Mistakes - #3
Posted on 11/24/2004
Assuming that a Lender who offers the good price thisloan will have a good price on thatloan – or even able to offer other loans.
Hard money lenders tend to specialize. Almost all will fund income producing commercial properties up to 65% LTV. Beyond that, ledners specialize in risks in which they have a great deal of knowledge and experience, which enables them to select and manage loans in that field. For example: some will lend on gas stations, other will lend on raw land or land development, construction, hospitality, assisted living facilities, etc., etc.
Determine the special nature of the loan you are looking for. Ask an experienced broker to assist you (fees will apply) or do the research on your own to determine which lender can lend on your property and which will have the best rates for your scenario.
Posted in Miscellaneous
Hard money lenders tend to specialize. Almost all will fund income producing commercial properties up to 65% LTV. Beyond that, ledners specialize in risks in which they have a great deal of knowledge and experience, which enables them to select and manage loans in that field. For example: some will lend on gas stations, other will lend on raw land or land development, construction, hospitality, assisted living facilities, etc., etc.
Determine the special nature of the loan you are looking for. Ask an experienced broker to assist you (fees will apply) or do the research on your own to determine which lender can lend on your property and which will have the best rates for your scenario.
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