An incredible deal on a fix and flip opportunity in a good subdivision shows up out of the blue — sounds so good that it is difficult to believe. Everyone knows that expert professional flippers, such as Tarek and Christina El Moussa who star in HGTV's reality flipping program, Fix or Flop, are able to earn a typical profit of $40,000 to $50,000 in their rehab business. And indeed, they are helped in a major way by their professional experience, auction expertise and knowledge of hard money loans. Nevertheless, you're certain that your first class rehab and remodeling talents will enable you to do a superb job for this project — furthermore, you already have lined up one of the best general contractors in the business to handle the project.

But capital is usually a different question altogether. A typical lender, for instance a bank, takes at least one to two months to consent to the loan and provide the capital. Since most home owners would rather have a fast closing, you may want to start looking for additional funding options.

On top of this, banks have been tightening their lending requirements in recent years, making it hard for a person to obtain a typical home loan if their credit score is not flawless or he is lacking a regular salaried profession. So will a shortage of funds stop you from following your ambitions? Never, because you could always use the Catasauqua hard money loan approach to finance your home renovating project.

When you obtain a hard money home loan in Catasauqua, you will get what is perhaps most essential to real estate negotiations throughout the country — a very fast closing of roughly 2 weeks. What's more, the LTV value can reach up to 70% of the home value, as evaluated by a certified appraiser. On the surface, hard money real estate loans, with starting lending rates of 10%, appear to be higher in price than bank loans. But when you consider these loans are not long-term loans, the rate tends to be misleading. When it comes to short-term loans of a handful of years or less, you should think of them similar to every other expense for your project. And once you have flipped the property or home, recovering this expense is comparable to recuperating the expense for all the bathroom upgrades you did.

Besides, hard money mortgages are not hard to qualify for, even in the event you posses a bad credit rating. Catasauqua hard money lenders don't authorize a loan strictly according to the applicant's credit score — rather they will examine the property, where it is located and what it is worth, and the home's ability to pay back the financing without the help of the borrower. Additional factors that influence a customer's eligibility for a hard money real estate loan can include how much he is in a position to put into a down payment, his past experience being a real estate investor, and price of comparative, just recently sold residences in the area.

Locating a hard money lender in Catasauqua to fund your real estate project is not very challenging, provided that the opportunity that lies before you is promising and offers a good prospect for returns. Fill out the contact form on this page or call us and let's discuss your property or properties.