What is the right loan for you?
Private money loans, or hard money,
ypically higher rates
not credit based
higher down payments
can have a prepayment penalty
condition of the house is not always an issue.
The future value can be used.
Exit strategy is needed (how are you getting out of the loan)
are you selling or refinancing?
A private money lender is a non-institutional (non-bank) individual or company that loans money, generally secured by a note and deed of trust, for the purpose of funding a real estate transaction.
What is a Private Money loan?
Pardon the work in progress. More to come.
Contact us if you are interested in more information about private loans.