6 Signs You Need a Hard Money Loan in 2018
Homeowners and real estate investors in Ocala FL are getting frustrated by trying to obtain conventional mortgage or home equity loans. They are tired of the waiting, being turned down for bad credit or other issues, or not getting any response from their lenders. If you are an Ocala homeowner who needs money for a bridge loan, home improvement, or other reason AHL Hard Money Network is here to help.
There are six clear signs you may need a hard money loan:
You need money fast. If you are a homeowner trying to do improvements or looking for a second home or vacation property, you can’t afford to waste months waiting for conventional approvals. Your contractor wants to start working and needs a deposit, or that perfect vacation home deal just popped up and you need to act fast. AHL Hard Money Network can get your money in days versus weeks.
Flexibility is needed. Hard money lending is more flexible than conventional lending. Loan terms, interest rates, LTV ratios are dealt with individually rather than making every loan out of a cookie cutter. Tell AHL Hard Money Network what you need and we will work to make it happen if we can.
Bad credit blocks approvals. If you have bad credit you have probably already dealt with rejections over and over. AHL Hard Money Network secures our loans with the equity you already have, so credit is far less important to us. Our investor network underwrites loans for bad credit applicants regularly.
You have some cash, but not enough to make the deal happen. You want that improvement or second home but can’t pull enough cash together to pay for it. No problem with AHL Hard Money Network, we will look at each situation and can offer loans for 50% LTV or perhaps higher. Bringing cash to the table makes your loan attractive to our lender network because they don’t want to absorb the full impact of a default.
Your money needs are short term. Hard or private money loans are ideal for short-term needs because you get your money quickly to do with as needed, then you have time to secure another financing long term. Also, paying off your hard money loan will help your credit rating!
Using other people’s money is better than your own. This concept is probably more useful to real estate investors than homeowners. Investors want to make that deal quickly and don’t want to tie up a lot of their own cash in the deal. A loan from AHL Hard Money Network is ideal for solving that problem.
If you are in the greater Ocala FL area, don’t feel you are left out in the cold when you can obtain that conventional home loan. Contact AHL Hard Money Network today and let us quickly get you the money you need.