Featured Hard Money Lenders

 

MyHardMoneyLenders.com is a comprehensive website that compiles information about private hard money lenders across the nation. This convenient website allows consumers to easily search for a private money lender in any U.S. state, whether it is Alabama or Wyoming.

Hard Money loans are available for a number of real estate specific transactions, including apartment building loans, bridge loans, commercial building loans, commercial construction loans, commercial property loans, direct lender financing, hard money lender financing, Merchant Cash Advances, real estate development loans and residential home bridge loans.

In hard economic times, it is difficult for banks and underwriters to fund on unique properties, especially those involving commercial transactions, bridge loans and multi-family units. Additionally, some banks are extremely particular about Jumbo Loans – amounts generally exceeding $417,000. Not only are underwriters and loan officers requiring borrowers to have flawless credit scores, minimum down payment amounts, a substantial cash flow and assets with verified stated income, but in a downturned economy where more employees are self-employed or own their own businesses, it’s becoming more difficult to obtain a government-approved loan.

If a borrower is turned down by a standard lending institution, albeit it a credit union, savings and loan, direct mortgage lender or bank, the remaining loan option is a hard money lender. These private companies have pools of investors that carefully invest their monies in high-interest, high-return loans. In return, less documentation is required and the government’s stringent underwriting guidelines do not apply.

An additional benefit of a hard money loan is a fast closing, with funds generally available within days instead of months. The typical banking loan requires a loan application with extensive income verification and documentation, an executed purchase and sale agreement, credit checks, necessary property inspections, a satisfactory title report, an adequate appraisal, is required to meet underwriter’s strict guidelines and if accepted, loan paperwork is completed, the transaction is sent to the local escrow company, the property closes and funds are dispersed. Alternatively, hard money lenders do require a loan application; however, extensive income documentation is not typically required. While an executed purchase and sale agreement is required for any contractual agreement, some hard money lenders do not require high credit scores, property inspections or standard underwriters’ guidelines. In fact, more decisions can be made in house, which helps facilitate a smooth, rapid closing.

Without the advantages of hard money lending, today’s real estate market would be struggling more than ever. Hard money lenders provide real estate investors with the economic means to purchase less desirable properties, flip them into livable conditions for first-time buyers and make the American home buying dream a reality for our economy’s future.

From Our Blog

Common Questions (With Answers) About Hard Money Loans
Added August 09, 2017

Here are some of the most commonly asked questions about hard money loans with short, easy to understand answers which will help improve your understanding of what these loans are and how they might be used in your own financial investments. What is a hard money loan? A hard money loan is a loan issued by a private investor or company instead of a big banking institution. The borrower secures their loans based on the values of the properties themselves, rather than the borrower’s credit...Read More

Seven Significant Reasons to Use a Hard Money for Real Estate Investment Loans
Added July 25, 2017

Real estate investment is a hot market in today’s investment realm. New buyers are coming into the field with questions about how to best find the capital they need for their real estate projects. Here’s a quick list of important facts about using a hard money lender for a real estate investment loan. It’s Faster. The paperwork of a traditional lending agency can take up to four months to process. This is a lifetime in a real estate investment. Compare this to a direct money...Read More