Hard money loans have become increasingly popular among investors, thanks in part to the greater difficulty involved in getting a traditional loan. In fact, it’s becoming the preferred method of getting a loan. With its efficiency and speed, the fees and interest rates make hard money loans worth it, even for those that typically finance their properties through a bank loan.
We all know that the amount of requirements and restrictions necessary to obtain a loan have increased, and for investors, the issue is often with income verification. Hard money loans sidestep this issue entirely, and you’ll notice that the speed involved in closing can often take as little as thirty days. Throw in a cash offer, and your closing can close as rapidly as the seller will accept. Quick closing is something sellers really like, and it will allow you turn more deals over throughout the year.
Certain investors have no choice but to go through the traditional mortgage process. Instead of opting for the hard money route they choose to save money on fees and expenses and prefer to accept the lowest possible interest rate. While it’s important to focus on the bottom line, closing with cash is a hugely popular convenience Having to provide a bank with tax statements, documentation proving income, and tax returns do nothing to make a business more efficient. Why not close in just a couple of days on any offer that’s accepted? What may be lost in fees and expenses is ultimately gained in convenience and overall volume.
Our hard money loans close fast, we don’t require credit checks, and it’s just of the many reasons we’ve built a solid list of clients who prefer our quick, professional hard money loan services.
This update is brought to you by Michael Internoscia, Principal Broker and CEO of hard money lenders Florida company M & M Private Lending Group. We have over three decades of experience specializing in private money real estate loans and we pride ourselves on providing our esteemed clients a service that’s personalized while delivering low rates and closing costs. We also offer mortgage note investments and have worked extensively with brokers and affiliates. Call 305-363-7169 or 954-445-4434 to speak with a lending representative about our Florida private loans or visit our website at https://mmprivatelending.com to fill out an application form.
