Hard Money Loans in Arlington

There's this phenomenal opportunity to renovate and flip this nice outdated house in a good location and it seems like the one you have been wanting for quite some time. Expert house flippers, like the young couple on Flip or Flop, HGTV's reality flipping series, are capable of generating a gain of $40-$50k as an average on more than one occassion. Of course, you also realize that their results can be attributed to the fact that they're professionals, are knowledgeable in hard money loans, they know market trends really well and additionally, they are good at working a public auction for getting a reasonable deal. However, you are certain that your impressive rehab and remodeling knowledge can help you do a great job on this project — furthermore, you already have arranged to have one of the best general contractors in town to take on this project.

But where do you obtain the needed funding for flipping? Should you opt for a conventional loan from the bank, you will wind up waiting somewhere around 1 to 2 months before the mortgage loan is authorized and the money is accessible. With the sellers seeking a fast closing, that doesn't appear like a great idea to you in the slightest.

To add to it, banks have already been tightening their lending requirements in recent years, rendering it more tough for people to obtain a conventional home loan if their credit score is not perfect or he is lacking a consistent salaried profession. So will inadequate funds prevent you from sticking to your aspirations? Not at all, especially while Arlington hard money loans can help you realize great things in the real estate world.

A hard money home loan in Arlington gives you what is probably most desired by real estate investors — a quick closing time period of as few as two weeks. And additionally, loans can be done for up to 70% loan-to-value of the as-is house value, as established by a licensed appraiser. At first glance, hard money real estate loans, with starting lending rates of 10%, appear to be more expensive than bank lending options. But the term lengths for these loans are quite short, which makes the interest rate far less important. Short-term loans of a couple of months to a handful of years are best thought of in terms of cost of capital, very much like all other expenditures associated with a project. After you fix up and sell the home, recovering this expense is no different than recouping the expense for new kitchen appliances you placed into the home.

Moreover, even someone with weak credit can still qualify for a hard money mortgage. Rather than focusing entirely on the borrower's credit score or wages, Arlington hard money lenders, who may be a privately owned company or an individual person, say yes to a loan as a result of evaluating the property value, its marketability, its location, and the possibility of recuperating their capital if they have to foreclose the loan. The amount that a person can put down in advance for the property, his real estate experience, and price range of comparable homes in the neighborhood are additional factors that go into establishing an individual's eligibility for a hard money real estate loan.

Finding a hard money lender in Arlington to help with expenses for your renovation project is not difficult, provided that the opportunity that lies before you is promising and boasts a good potential for returns. Complete the form on this page or get in touch with us via phone and let's talk about your property.

Request More Information

A loan specialist will be in touch shortly

Personal Info

Project Info

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