Hard Money Loans in Ashford
A fantastic bargain on a fix and flip opportunity in a good neighborhood suddenly shows up — sounds so good that it is difficult to believe. You may have heard that competent house flippers, much like the husband and wife on HGTV's Flip or Flop, turn a remarkable average profit of around forty to fifty thousand dollars. And sure, they are aided in a major way as a result of their professional know-how, auction skills and knowledge of hard money loans. However, you are assured that your first class rehab and renovation skills will assist you to do a superb job for this house — in addition, you already have lined up one of the most suggested contractors in the business to handle this job.
But funding can be a different problem entirely. When you meet with a regular lending institution, like a bank for a mortgage loan, it's likely going to take at least four to eight weeks for the approval to come through and your money to be furnished. With the sellers wanting a fast closing, that does not seem like a wise idea to you in the slightest.
On top of this, banks have already been tightening their lending criteria in recent years, which makes it hard for a person to receive a regular loan if their credit situation is not flawless or he does not have a regular salaried profession. So does this mean you are without an option, but to give up your aspiration to venture into the fix and flip business? Certainly not, seeing as you always have the
A hard money home loan in
Also, it isn't difficult to qualify for a hard money mortgage, even if your credit score is not that impressive. As an alternative for focusing exclusively on the applicant's credit score or income,
So any time you run into a good and profitable flipping opportunity, feel comfortable knowing you'll have a hard money lender in
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