Apple Wood Private Hard Money Lender

Hard money loans are also known as private money loans. Most investors prefer the favorable terms and ultra-low rates of conventional financing, but there are certain situations when owner occupied hard money loans can help you achieve your dreams. If you cannot qualify for a conventional loan and you have a down payment of 30-40%, you may have a short-term solution, a hard money loan to assist you in acquiring a new home. Keep in mind that owner occupied hard money loans are usually easier to obtain than conventional loans. Most loans were equity based until 2008. At the time, if your loan to value (LTV) was 60% or less, a commitment would be issued without the lender considering if the borrower could repay the loan. In today’s environment, the lender must confirm the ability of the borrower to repay the loan. This is tied to Dodd Frank law and a host of other regulations. On the other hand, owner occupied hard money loans can usually be obtained with a 30% down payment. The le...

Because many borrowers are unfamiliar with the concept of a hard money lender , they are unsure how to select a good lender. But a few tips on the selection process can make the process much less stressful. For most borrowers, hard money lending is not as well known a resource as a traditional lender. But there are a great many choices for a legitimate and honest hard money lender . All borrowers need to do is follow a few tips and guidelines when checking out potential lenders to ensure that they make a great choice and are satisfied with their hard money borrowing experience. Especially for a first experience in hard money lending, it is always a good idea to select a firm who specializes in hard money. The terms and processes for a hard money loan vary a bit from a more traditional loan so having an experienced lender can make your first borrowing experience must less stressful. In addition, an experienced lender will be in a much better position to answer your questions and provi...

Many consumers are unaware of owner occupied hard money loans . But these non-traditional loans can offer certain borrowers some great opportunities. There are many reasons that a consumer seeks to borrow money from a non-traditional lender. In most cases, the hard money becomes an option when the borrower has bad credit, has a very hard to verify income or irregular income or the property is in disrepair or has other types of issues. All of these complications make it impossible to secure a loan from a traditional lender such as a bank or credit union but owner occupied hard money loans can meet the needs of these consumers. Bad credit can be the result of one’s own financial mistakes or they can happen after the loss of employment or even a medical issue that resulted in huge bills, but the result is always the same. The consumer is not able to secure a traditional loan for many years Even after correcting his or her credit issues and creating a nice savings for a down payment, it c...

Real estate investments are a great way to build your personal wealth. And hard money loans can offer you the fund that you need to begin building your portfolio and your wealth . Working 9 to 5 might be a good choice for many people but if you are interested in becoming your own boss and creating sizable personal wealth, then hard money loans could be the financial tool that you have been looking for. Real estate has always been considered one of the best investments that you can make. It holds value well and often times make huge leaps in value. But having the initial money to get started in real estate investing is not always possible. In these cases, the solution is using hard money to get started . Hard money loans are non-traditional loans that are funded by private groups or individuals. The benefit of this is that the loan application and approval process can be must less stressful and a great deal faster than a traditional loan. In addition, the lenders are primarily intere...

Many consumers believe that hard money loans are only for questionable deals or for a last resort. But the truth is that these are legitimate loans with many great features. Most people think that hard money loans are far from being a legitimate or realistic option when borrowing money. The image is only slightly higher than a loan shark, but that is due to ignorance and does not really apply to a hard money loan. In reality, a hard money loan is simply a loan that is secured by real estate, is normally for only a shorter time frame and is funded by a private lender and not a traditional bank or lending institution. Hard money terms tend to range from about one year to as long as five years. The loan requires a monthly payment which is comprised of principal and interest or in some cases only interest as well as a final balloon payment at the end of the term. One of the great benefits of hard money loans is that the approval for the loan is not based on the borrower’s personal credi...

There are conventional loans and hard money loans for owner occupied properties. Learn the upside and downside of owner occupied hard money loans . You may have heard of “hard money” loans for construction purposes. Private hard money loans are actually used for multiple investment opportunities including consumer purpose/ owner occupied hard money loans . If you intend to occupy the property you are seeking to purchase, then you need to look into consumer purpose and owner-occupied loans. The borrower intends to occupy/live in the property that they are seeking the loan for—In other words, your primary residence. These types of loans can be used for paying a tax lien, helping a family member, or bill consolidation, as long as the loan is tied to any form of real estate. Since the financial crisis of 2008, the tighter lending regulations, closing time frames, documents and disclosures involved, and borrower protections has led to the whole process with private lenders being one that is...

There are many reasons why a borrower would consider owner occupied hard money loans . Consider these motives when making your next decision on where to obtain financing for an owner-occupied property. You apply for a conventional residential mortgage from your local bank or credit union only to be turned down. Don’t give up on your dream. Your other option is a residential hard money lender for your primary residence. This can be a viable solution in the following scenarios: · Your credit is classified as poor · Your history shows a recent loan modification, short sale, bankruptcy or foreclosure · You currently joined your employer and have less than 2 years of provable employment · You have your own business and are classified as self-employed · You are seeking a bridge loan for short term purposes You locate the perfect residence and receive a conventional mortgage only to find out your lending bank or credit union is unable to perform while in escrow. Now is a good time to conside...