Hard Money Loans in Southwick

A fabulous bargain on a fix and flip opportunity in an excellent neighborhood all of a sudden shows up — seems so good that it's difficult to believe. Expert house flippers, like the young couple on Flip or Flop, HGTV's reality flipping show, are able to haul in a gain of $40-$50k for most homes. It's fair to say their past experiences rehabbing, understanding of hard money loans, expertise in their market, and auction talents have played a significant role in their success. Nonetheless, your rehab and renovation skills aren't bad either — aside from that, you've already identified an ideal general contractor to take on the job.

But where do you get the needed financing for home flipping? A typical lending institution, for instance a bank, takes at the very least 1 to 2 months to consent to the financing and provide the money. Given that home owners give preference to a fast closing, you may have to begin searching for some other funding options.

To add to it, banks have been tightening up their lending criteria as of late, which makes it challenging for a person to obtain a conventional home loan if their credit circumstances are not flawless or he does not have a consistent salaried occupation. So will a shortage of funding prevent you from sticking to your aspirations? Definitely not, because you always have the Southwick, Massachusetts hard money loan option.

A hard money home loan in Southwick offers you what is regarded as imperative to many real estate transactions — a very fast closing of just a 2-3 weeks and at many times less. And additionally, loan amounts can be made up to 70% loan-to-value of the "as is" valuation, as deemed by a licensed appraiser. A number of people regard hard money real estate loans to be higher in price than regular financing, since the lending rates of such loans commonly start off at 10%. But the term lengths for these loans tend to be quite short, making the interest rate less important. As it pertains to short-term loans of a few years or even less, you should consider them much like you would other expenses for the project. Right after you fix up and sell off the property, recuperating this expense is the same as recouping the one for stainless steel appliances you placed into the house.

Moreover, even an individual with bad credit can easily qualify for a hard money mortgage. The applicant's credit score isn't the single deciding factor for Southwick hard money lenders — they also analyze the house, its market value, its location, and its capacity to bring back their investment if things do not go as intended. The amount that an applicant can put down beforehand towards the property or home, his past real estate experience, and selling price of comparable properties in the same area are other details that go into ascertaining a borrower's eligibility for a hard money real estate loan.

So any time you come across a good and lucrative flipping opportunity, rest assured you will have a hard money lender in Southwick, prepared to loan you the capital you'll need. Complete the form on this page or get in touch with us via phone and let's talk about your property or properties.

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