Unlike a traditionally offered loan which usually comes from a bank a hard money loan is more commonly offered by a private lender or a company which see some potential of benefit in this very perilous plan.
A hard money loan has a completely different modus operandi, here the creditworthiness of the borrower is of no essence to the loaner because the loan is annexed upon the value of a property. A real property is used as collateral or assurance by the lender, this loan is usually utilized by realtors who seek to modernize the house or whatever property with the loan and resell it to repay the loan who’s term of reimbursement usually lasts between one to three years. It is for this reason that a higher
Set guidelines and a streamlined underwriting process make closings happen swiftly. As fast as 48 hours
Correspondent lending gives us the ability to bring wholesale rates to the consumer
Start with some basic info about your assets, credit profile, income. As a result – amount to borrow and the rate
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