Hard Money Loans in Helena

An incredible bargain on a fix and flip property located in a nice neighborhood suddenly shows up — seems too good to be true. You've heard that competent property flippers, similar to the married couple on HGTV's Flip or Flop, have a remarkable average profit margin of around $40,000 – $50,000. And yes, they are helped in a big way as a result of their professional experience, auction expertise and understanding of hard money loans. That said, you have likewise been cultivating your rehab and renovation knowledge, have a licensed contractor ready for the project and are positive that you will be able to do a bang up job on this property.

But where can you get the necessary financing for flipping? In the event you meet with a customary lending institution, like a bank for a mortgage loan, it likely will take, as a minimum, 4-8 weeks for the acceptance to be completed and the money to be dispersed. With the sellers looking for a fast closing, that does not seem like a wise idea to you whatsoever.

As well as this, should you have a less-than-perfect credit rating or do not receive a routine source of income, it is usually tougher for you to qualify for bank financing, seeing the tighter loan criteria banks have introduced as of late. So does this mean you are without an option, but to drop your ambition of getting into the fix and flip business? Not at all, especially when Helena hard money loans enable you to realize many amazing things in real estate.

A hard money home loan in Helena boasts what's perhaps most important to real estate investors — a fast closing time of as little as two weeks. Further, financing is made up to 70% loan-to-value of the "as is" valuation, as deemed by a professional appraiser. On the surface, hard money real estate loans, with starting interest rates of 10%, seem to be more expensive than bank financing. But in reality, the rate of interest is not as relevant for these loans, since they will never be long-term financing. Short-term loans of a couple months to a handful of years are best looked at in terms of cost of capital, the same as all other expenditures involved with a project. And as soon as you've flipped the property or home, recuperating this expense is comparable to recovering the expense for the kitchen and bath improvements you did.

In addition, even a person with low credit will be able to qualify for a hard money mortgage. Instead of focusing exclusively on the applicant's credit score or wages, Helena hard money lenders, who could be a private company or an individual, authorize a loan after evaluating the home value, how easy it will be to market, where it is located, and the possibility of recovering their capital in case they have to foreclose the loan. How much of their own money a person can put down in advance towards the property or home, his past real estate experience, and price range of comparative homes in the same vicinity are additional factors that go into ascertaining a person's qualification for a hard money real estate loan.

So in the event you run into a very good and lucrative flipping opportunity, feel comfortable knowing you will have a hard money lender in Helena, in a position to loan you the money that you need. Submit the form or get in touch with us via phone and let's talk about your project.

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