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Working with a hard money lender is a partnership. The hard money lender wants the project to go as smoothly as possible, just as the real estate investor does. The last thing the lender wants is missed payments, unforeseen issues with the property, or any other potential problems that put the project in jeopardy.
What is a hard money loan? Real estate investing loans that secured by a "hard" asset, such as real estate is a hard money loan. You will find that hard money lenders come with higher interest loan rates frequently between 8% to 14% and have shorter terms around twelve months. They are often issues in days to weeks.
It is not uncommon for a hard money lender to loan 70% of the property’s value. If you are doing a fix and flip, a good hard money lender will loan 70% of an after-repaired value. Hard money loans.
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First Rehab Lending is nationwide, direct private lender providing short-term loans to facilitate the acquisition and rehabilitation of non-owner occupied residential real estate for experienced investors. We understand that for investors to be successful in this industry, they rely heavily on their lender to provide timely and efficient services.