What Are Residential Hard Money Loans and How Do They Work?
“Residential hard money loan” is a loan secured by a hard asset, such as property or real estate. Are you an owner of residential property in California and wish to renovate your property for sale or to improve the rents you can obtain? A residential hard money loan may be an excellent alternative for you if you’re a property owner, real estate investor, or house flipper needing funding for a deal. Professional residential hard money lenders in California often help clients navigate the hard money loan transaction process. In addition, asset-based hard money loans, also known as private money loans, give borrowers more flexibility by using their assets (properties) as collateral. Are you eligible for residential hard money, or who is suitable for it? Residential hard money loans appeal best to those not eligible for traditional bank lending. It is beneficial to people with a credit score that is insufficient to qualify for a standard mortgage or if they have an adverse financial hi