There's this amazing possibility for fixing and flipping this wonderful old house in a very good part of town and it seems a lot like the deal you have been anticipating for quite some time. Expert property flippers, like the young married couple on Flip or Flop, HGTV's reality flipping program, are able to bring in a profit of forty to fifty grand on average. Undoubtedly, you also realize that their results can be credited to the simple fact that they're professionals, are proficient in hard money loans, they understand the market really well and furthermore, they know how to work a public auction for getting an appropriate deal. With that being said, you've recently been brushing up your rehab and renovation knowledge, have a building contractor lined up and are confident that you're capable of doing an impressive job on this home.

But where precisely can real estate investors get financing? When you approach a standard lending institution, much like a bank for a mortgage loan, it's in all likelihood going to take a minimum of thirty to sixty days for the acceptance to come through and the money to be dispersed. Because most home owners would prefer a fast closing, you may want to start seeking out other funding alternatives.

With banks introducing tougher loan standards in the past few years, it is now tougher for a self-employed individual to find a mortgage loan, especially when his credit score is not flawless. So will inadequate funding stop you from sticking to your ambitions? Under no circumstances, especially while Arlington hard money loans can help you realize many amazing things in the real estate world.

A hard money home loan in Arlington offers what's considered vital to many real estate transactions — a very fast closing of just a few weeks and sometimes even less. In addition, the LTV value can go up to 70% of the home's valuation, as determined by a competent appraiser. With interest rates starting at about 10%, hard money real estate loans may appear, at first glance, to be more costly when compared with traditional bank lending products. But the term lengths for these loans are comparatively short, which means the rate is less important. As it pertains to short-term loans of one or two years or less, you should consider them the same as you might for every other expense for your project. After you remodel and unload the property, recouping this expense is just like recouping the one for home appliances you put in the place.

What's more, it's simple to obtain a hard money mortgage, regardless of whether your credit score is not that extraordinary. The customer's credit score isn't the sole deciding factor for Arlington hard money lenders — additionally, they evaluate the home, its market value, where it is located, and its capability to bring back their financial commitment if things should not work out as intended. Other criteria that have an impact on an applicant's approval for a hard money real estate loan can include how much money he is in a position to put into a down payment, his prior experience being a real estate investor, and selling price of comparable, recently sold properties in the area.

So any time you come across a good and profitable flipping opportunity, rest assured you will have a hard money lender in Arlington, willing to lend you the funds that you need. Fill out the form or call us and let's discuss the property you have in mind.