You discovered this phenomenal opportunity to fix and flip this wonderful outdated home in a very good location and it seems a lot like the deal you have been eagerly waiting on for quite some time. You may have heard that veteran house flippers, like the married couple on HGTV's Flip or Flop, turn an impressive average return close to $40,000 – $50,000. Naturally, you also are aware that their results can be credited to the simple fact that they are experts, are well versed in hard money loans, they know the market quite well and in addition, they know how to work a public auction for getting an appropriate price. Still, your rehab and remodeling knowledge isn't bad either — besides, you have already identified a good general contractor to tackle this home.

But where can real estate investors get funds? For those who get in touch with a customary lending institution, like a bank for financing, it's very likely going to take a minimum of 30-60 days for the approval to come through and the money to be distributed. With the home owners wanting a fast closing, that does not appear to be a good idea to you whatsoever.

On top of this, banks have been tightening up their lending criteria in recent years, which makes it hard for people to receive a traditional loan if their credit circumstances are not flawless or he is lacking a regular salaried job. So do you have to give up and forego your desire to venture into real estate? Never, due to the fact you could always use the Oxford, Massachusetts hard money loan approach to pay for your flipping project.

If you should apply for a hard money home loan in Oxford, you'll get what's perhaps most essential to real estate offers throughout the country — a fast closing of approximately two weeks. Plus, the LTV value can go up to 70% of the property value, as determined by a certified appraiser. At first, hard money real estate loans, with starting lending rates of 10%, could be seen as higher priced than bank financing. But in reality, the lending rate isn't as useful a measure for these loans, because they will never be long-term loans. Short-term loans of a couple of months to a few years are best understood as cost of capital, similar to any other expenditure associated with a project. And as soon as you've turned the property or home, recouping this expense is comparable to recouping the expense for the bathroom updates you performed.

Besides, hard money mortgages are not hard to qualify for, even if you posses less-than-perfect credit. Oxford hard money lenders do not authorize a loan solely on the basis of the borrower's credit score — rather they will examine the home, its value and location, and the property's ability to pay back the financing independent of the borrower. The amount that a person can put down in advance for the property or home, his real estate experience, and price range of equivalent properties in the area are various other details that go into establishing a borrower's qualification for a hard money real estate loan.

So if you have found a wonderful real estate opportunity with a huge probability of returns, you've also stumbled upon a hard money lender in Oxford who is happy to provide financing for your flipping venture. Complete the form or give us a call to discuss the property or properties you have in mind.