Imagine you've run into this really great bargain for a fix and flip property you found in a terrific location, and you are either a seasoned real estate investor or a first-timer who is looking to try out flipping houses. Expert house flippers, like the young couple on Flip or Flop, HGTV's reality flipping show, are able to earn a gain of forty to fifty grand on a consistent basis. And indeed, they are helped in a major way due to their professional experience, auction skills and familiarity with hard money loans. However, you're certain that your impressive rehab and remodeling abilities will help you do a superb job for this project — additionally, you already have lined up one of the finest contractors in town to handle this job.

But where can real estate investors get funds? A typical lender, like for example a bank, takes at least 1-2 months to authorize the loan and hand over the capital. With all the sellers wanting a fast closing, that does not appear to be a good option to you whatsoever.

With banks bringing in more challenging loan requirements in the recent past, it is now tougher for a self-employed individual to get a home loan, especially when his credit score is not optimal. So does that mean you are without an option, but to drop your dream of venturing into the fix and flip business? Under no circumstances, particularly while Allentown hard money loans can help you achieve great things in real estate.

A hard money home loan in Allentown offers what is regarded as vital to many real estate deals — a quick closing of just a 2-3 weeks and oftentimes even less. Plus, the LTV value can range up to 70% of the property's valuation, as evaluated by a credentialed appraiser. With the loan rates starting near 10%, hard money real estate loans might appear, at first glance, to be more expensive compared to traditional bank financing. But in reality, the lending rate is not as useful a measure for these loans, given that they are not long-term loans. The price tag on such short-term loans ought to be viewed on par with every other cost that you might encounter in the course of the project. And as soon as you've finally turned the house, recouping this expense is the exact same as recuperating the expense for all the bathroom upgrades you performed.

What's more, it's simple to be eligible for a a hard money mortgage, regardless of whether your credit situation is not that extraordinary. The customer's credit score is not the single deciding factor for Allentown hard money lenders — additionally, they examine the property, what is it valued at, where it is located, and its potential to earn back their investment if things do not go as planned. Adding to this, if the person have proven experience in similar real estate endeavors, can place down money for a down payment, and the value of comparable homes in the area works to his benefit, he has a good shot of being eligible to get a hard money real estate loan.

So in case you have stumbled upon a really great real estate opportunity with a high chance of returns, you have also stumbled upon a hard money lender in Allentown that's happy to fund your rehab venture. Complete the form on this page or give us a call and let's discuss your property or properties.