Find out what a private money loan is and how it differs from hard money.. What are the typical interest rates that are associated with a private money loan?
Hard money lenders can often fund deals quickly, and they can fund deals that traditional lenders would never approve. But, there’s a catch. It’s extremely expensive! Most hard money lenders charge 16-18% interest and thousands in up-front fees. By the time you factor in the loan costs, there isn’t any profit left in the deal for you.
Because Do Hard Money has a variety of loan options available we are sure to have something that will meet your priority needs, whether that be 100% financing, no monthly payments or low points and interest rates for your real estate investment.
Hard Money Loan For Home Purchase RCN Capital, ranked by national publications as one of the Country’s top Hard Money Lenders. RCN provides short-term loans to real estate investors to fund the purchase of non-owner occupied.Hard Money Lenders In Austin, TX Hard money loans in Houston & Austin, TX. Larry the Lender is a short-term, hard money loan (or bridge loan) provider, serving Houston, Austin, and surrounding areas. We specialize in asset-based lending, particularly to real estate investors who buy, fix up, rent, or sell property.
In most cases, there will be closing costs or fees to use hard money. Typically hard money lenders will charge anywhere from 2-10 points just to use their money. One point equals one percent of the mortgage amount. So charging 1 point on a $100,000 loan would be $1000.
Alpha Funding corp. offers hard money solutions that fit nationwide fund platform. Guaranteed innovative lending strategies and accelerated closings. Apply now!
At Vantex Capital Group, hard money mortgage lending is our primary business. We have been licensed in the State of California by the Bureau of Real Estate since 2003, and our President has been originating hard money mortgage loans for over thirty years.
Why Do Hard Money Loans Get a Bad Rap? One of the disadvantages associated with hard money loans, and one of the main reasons people shy away from them, are heightened interest rates. Because these loans are specifically suited for investments that will turn a profit quickly, interest rates can go as high as 18 percent.
Hard Money Personal Loans. When you utilize this type of loan, you need to be aware that you are going to have to pay a much higher rate of interest. In some cases, the interest is going to be twice what you would pay for a regular personal loan. Therefore, if you have good credit, you might be better off to stick with a traditional loan.
Texas Hard Money Loan DJ Jordan Properties – A Hard Money Lender. We are hard money direct lenders with over 20 years experience lending throughout the state of Texas. We offer 5 year financing on all residential investment properties. We do not lend on owner occupied properties and only will fund investor loans.