When Residential Hard Money Loans Are the Best Alternative

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When discussed in regards to real estate financing, the delineation of “residential hard money”, is basically a non-bankable loan on an investment single family home. The term residential hard money is often interchanged with bridge loans, private loans, no-doc loans, etc. The equity of the property is taken into consideration for a residential hard money loan underwriting decisions. In this scenario the residential investment real estate would be employed as collateral for the transaction. Residential hard money loans close fast (sometimes in as few as three or four days depending on the situation).

When is a residential hard money loan worth considering?

A residential hard money loan is an excellent alternative to conventional bank loan. This alternative financing option is helpful to the borrowers in several circumstances. Let’s have a look at some of the circumstances when residential hard money financing might be suitable.

●Borrowers with compromised credit
●Tax liens/judgements/unpaid items, etc.
●Borrowers that are looking for quick cash on their residential investment property.
●Property repositioning
●Time confined borrowers and borrowers who require a fast closing.
●Foreclosure cure
●Foreign nationals
●Borrowers who don’t have the time and patience to meet the multiple requirements of traditional lenders.
●Complicated loans with more than one pieces of security

How to select a residential hard money lender in California?

As far as selecting a residential hard money lender is concerned, you want to choose someone you can rely on. After all, real estate financing is a massive commitment! With an A+ rating with the BBB, and five-stars on Google, All California Lending is known to have a history of satisfying customers. With fast access to capital, we make applying for a residential hard money loan quick and easy.

Our goal is to help our clients accomplish their real estate dreams with ease. With loans available for condos, apartments, single-family homes, duplex, triplex and fix flip projects, commencing your new business venture with us is a streamlined process. Our long term relationships with reputable residential hard money lenders in California will help you move your real estate investing career forward by allowing you access to multiple ways to leverage.

We offer some of the best customer service in the industry & work with each client on an individual basis to determine their equity and help get a loan to meet their needs. Contact us at 877 462 3422 if you are all set to start your new real estate journey.

Source From: https://allcalifornialending.wordpress.com/2021/11/26/when-residential-hard-money-loans-are-the-best-alternative/

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