Owner Occupied Hard Money Lenders
You may be surprised to find out that owner-occupied hard money lenders offer loans for primary residences. Find out the specific situations where you can benefit from these types of loans. Are you in a circumstance where you are being denied a residential mortgage? There are many circumstances when a borrower is denied this type of mortgage from both credit unions and banks. When the person seeking a loan has little or no alternatives, they will often turn to a residential hard money lender to obtain a mortgage on the borrower’s primary residence. Some of the reasons a borrower may turn to this type of lender are: The borrower has bad or poor credit If the borrower has had a recent loan modification, foreclosure, short sale or bankruptcy If the borrower has two years or less of current employment If the borrower is self-employed A bridge loan is needed by the borrower for a primary residence In some instances, a borrower goes through the approval process with a conve...