Hard Money Loans in Mountain Home

A fabulous deal on a fix and flip property in a very good subdivision suddenly shows up — sounds so good that it is hard to believe. Professional property flippers, much like the young couple on Flip or Flop, HGTV's reality flipping program, are capable of bringing in a gain of forty to fifty grand as an average on more than one occassion. Naturally, you also recognize that their results can be attributed to the simple fact that they are professionals, are proficient in hard money loans, they know market trends quite well and they also know how to work an auction to purchase their houses at a good price. Nonetheless, your rehab and remodeling knowledge isn't bad either — aside from that, you've already identified an ideal contractor to tackle the home.

But financing is often a different issue altogether. If you meet with a standard lender, much like a bank for a loan, it is very likely going to take, as a minimum, four to eight weeks for the acceptance to come through and the money to be dispersed. With the home owners wanting a fast closing, that doesn't seem like a wise idea to you whatsoever.

With banks establishing more challenging loan guidelines in the past several years, it's become more challenging for a self-employed person to obtain a mortgage loan, particularly if his credit circumstances are not optimal. So should you admit defeat and forego your aspiration to venture off into the real estate market? Most certainly not, given that you always have the Mountain Home hard money loan alternative.

When you get a hard money home loan in Mountain Home, you have access to what's probably most essential to real estate negotiations throughout the country — a fast closing of about fourteen days. Further, financing is made up to 70% loan-to-value of the as-is property's valuation, as determined by a qualified appraiser. On the surface, hard money real estate loans, with starting interest rates of 10%, could be seen as higher priced than bank loans. But when you understand these loans are not long-term home loans, the rate of interest can be misleading. The price tag on such short-term loans ought to be evaluated on par with any other expenditure that you would need to meet pertaining to the project. After you renovate and sell off the house, recovering this expense is just like recovering the expense for new kitchen appliances you installed in the house.

Apart from this, hard money mortgages are not hard to qualify for, regardless if you have a weak credit score. The customer's credit score is not the sole deciding factor for Mountain Home hard money lenders — in addition, they evaluate the home, its market valuation, where it is located, and its capacity to return their financial commitment if things do not go as intended. Adding to this, if the person have proven experience in equivalent real estate ventures, can place down cash towards the down payment, and the value of comparable homes in the vicinity works to his benefit, he stands a really good shot of being approved for a hard money real estate loan.

So should you come across a good and profitable investment opportunity, be assured you will have a hard money lender in Mountain Home, willing to lend you the cash you may need. Enter your info into the contact form or give us a call to discuss the project you have in mind.

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Investment property loans only please, no primary residences at this time.