Hard Money Loan St. Petersburg- Fastest Hard Money Lending Solutions by #1 Lender
Hard Money Loan St. Petersburg- Best Hard Money Loan Lender in St. Petersburg offering great rates and terms for fast funding of your hard money loan requirements.
Hard Money Loan St. Petersburg
We are among the Fastest Hard Money Loan Lenders serving St. Petersburg. Our
hard money loan features: Fast Close, Minimum Document, No Prepayment
Hard money loans refer to financing provided by non-institutional lenders.
There are many hard money lenders who offer fast funding at attractive
As the borrower, you'll need to perform a thorough check on the lender's
reputation and business, but as you do your research you'll find that hard
money lenders can provide a great advantage in your quest to fund your real
estate investment project.
Why to consider St. Petersburg for the Real Estate Investment?- During the
period of 2021-2023, the median sales price for a St. Petersburg area
property was $290,000, and the average rental price for a one-bedroom
apartment was $1,420. There is 9% increase in the real estate prices
comparatively to pre-2000. That’s why, the St. Petersburg is considered as
the fast-growing real estate market for the investment.
Our Hard Money Loan Features:
• RATES STARTING AT 6.99%*+
• POINTS AS LOW AS 1.50*
• 1-3 YEAR TERM INTEREST ONLY
• UP TO 90% LTV!
• NO PREPAYMENT PENALTY*
• QUICK 7 DAY CLOSING
• BROKERS WELCOME
• NO VERIFIED INCOME DOCS REQUIRED OR TAX RETURNS NEEDED
• MINIMUM LOAN AMOUNT OF $100,000 UP TO 100 MILLION
• LENDING AVAILABLE NATIONWIDE ON COMMERCIAL LOANS
• N/O/O RESIDENTIAL, BUSINESS USE PURPOSE, INVESTMENT & COMMERCIAL
• 30 YR RENTAL PROGRAM WITH RATES STARTING AT 5.49%!
Benefits of Hard Money Loans
We proud ourselves on delivering the best Hard Money Loan Florida solutions.
Here the top advantages of our Hard Money Loan lending solutions in Fort
Faster Approvals: Without a doubt, one of the major benefits of a hard money
loan is the fact that investors can secure the pre-approval within one or two
days, given they have submitted the handful of documents that the lender has
requested. Hard money lenders primarily focus on whether the asset itself has
good market value and that borrower equity is at least 20%. Financing can
take place in less than a week, as compared to normal loans which may take a
month or even more. When inquiring about hard money lenders, a key question
to ask is how quickly they can fund.
Flexible Payments: With a private lender, you will have more freedom to
create a customized repayment plan. With a big financial institution, you
won't have this freedom. Instead, you will have to accept the payment terms
set by the bank. However, with a private lender, you can discuss and come to
a mutually agreeable repayment plan that you think is suitable for you.
Fewer Requirements: When applying for a loan from a normal financial
institution, you will be expected to meet many hard-set requirements, like
income history, experience, etc. It is no secret that bank approvals can
become a cumbersome process. It is likely that you will not be burdened with
so many requirements by a hard money lender. As long as you have a high-value
asset with at least 20% equity stake in it, there are good chances that you
will qualify for the loan.
Zero Prepayment Penalties: If you obtain a loan from an established bank, you
may be subjected to prepayment penalties if you pay off the loan prior to the
maturation date. Most fix and flip lenders do not charge prepayment
penalties, so if you come across extra cash and decide to pay off your loan
before the due date, you can confidently do so without having to worry about
being penalized for it.
Credit History Not a Big Issue: In the case of big lending institutions, your
credit history can have a huge impact on whether you will get a loan or not.
With private lenders, less emphasis is placed on a weak credit history. This
is because of a private lender bases loan approval on property value,
borrower equity, etc. As long as you meet these criteria, you stand a good
chance of getting funded.
Borrowing from hard money lenders is a lot simpler than you might expect. If you have the collateral in the form of real estate, property, or assets, most lenders are usually ready to make a deal.
Let's say you have several acres of property with a home, and you're putting it all up against this loan. You'll want to bring a copy of your latest appraisal to your meeting with the investor. Some hard money lenders might require a physical copy of the deed of trust to your home, as well as the property itself, if it is declared in a separate document. Occasionally for larger transactions, they might also want a copy of your original bill of sale for reference as they determine the market value of the whole property and how much they would be willing to loan against it.
Perhaps you're only looking for a smaller, short-term loan. You can back the loan with something such as a diamond necklace or a large vehicle like a boat or a luxury sedan. Similar to your real estate options, you'll want to be sure you have a verified appraisal of the item on hand. Whether it's an original purchase receipt or a certificate of authenticity, you'll want to prove that your property is worth a certain amount, and that a portion of that is reasonable for the hard money lender to borrow against. Occasionally, they might even want to hold the item in custody for the duration of the loan, so be prepared for this possibility.
Your final available collateral will be assets, such as stocks, holdings, and other investments that you've made or collected over time, but don't want to cash in just yet. You'll want to bring similar appraisals to real estate and property, but keep in mind that because of the general fluctuations of the market, hard money lenders might not be as open to letting you borrow against certain types of assets. A bond, for example, is relatively stable and won't lose much of its value in time, usually doing the opposite and appreciating in worth. But stock investments in smaller companies could be subject to the success or failure of the company itself, and unless you've invested with a Fortune 500 company, be prepared for a possible setback. You'll also want to bring proof of ownership of these assets.
Using these forms of collateral will help you get the loan you need.