When it comes to financing properties, there are many traditional avenues investors can turn to. Standard financial institutions, such as banks, are a decent option for securing the loan you need to invest in your next property. But with these institutions, comes some downsides. Namely, these financing options come with a lot of red tape and can take a long time to secure. Another alternative is hard money loans. Hard money loans are a quick and easy way to get a short-term loan and may be an excellent choice for your next investment opportunity. Hard Money Bankers is a company that provides fast and easy hard money loans, and now, they’re discussing why more real estate investors will consider these types of loans in 2020.
What is a hard money loan?
A hard money loan in a short-term loan, secured by real estate for collateral. Repayment usually occurs over a 12-month span, with a larger payment at the end. These types of loans are an excellent option for financing your next real estate investment.
Fast loans, at the drop of a hat
When looking to finance a real estate investment opportunity, you usually need money as quickly as possible. Especially in 2020, when there’s high competition for properties, investors need to have the cash on hand as quickly as possible, in order to close the deal. Hard Money Bankers provides hard money loans typically much quicker than a traditional bank loan. This means investors can sleep comfortably, knowing they’ll have their loan in time to invest in their next real estate property.
Much easier than traditional loans
Another perk which more real estate investors will have considering hard money loans in 2020 is how much easier the process is than traditional bank loans. The process of working out a mortgage loan can last for months. On the flip side, a hard money loan can be approved and funded within days. This means that you can easily have the capital you need to work on your next investment property.
There are other perks to choosing a hard money loan, instead of loaning from a bank or financial institution. With a hard money loan, the loan is secured by real estate. Because of that, the value of the collateral property is weighed heavily by the financers, when they’re deciding whether or not to approve the loan. This means if you have a less advantageous income or credit score, it’s very likely you’ll still be able to secure your loan, if the collateral property is valued highly enough.
About Hard Money Bankers
Hard Money Bankers provides quick and easy hard money loans as a financing option for real estate investment. Hard Money Bankers also often shares insider tips, such as how hard money loans help house flippers, why a hard money loan is a good option, and why new real estate investors should consider wholesaling. They currently operate in Maryland, Washington D.C., New Jersey, Virginia, and Pennsylvania. To learn more about Hard Money Bankers, you can visit their website.