“Hard money” is not described as such because it is hard to obtain, but simply refers to financing obtained from private investors outside of the conventional lending industry. In fact, hard money financing can be much easier than a conventional loan, since the approval process is based on existing real estate equity rather than credit ratings and bank balances of the borrower.
AHL Hard Money Network provides valuable financing options to business owners needing a rapid cash infusion, real estate investors needing fast financing to secure prime properties, or other financing where conventional lenders won’t or can’t offer a loan due to government regulations or other issues.
Why AHL Hard Money Network provides a valuable financing option:
Speed -- Hard money financing uses existing real estate equity to secure financing, so the loan processing time is measured in days rather than weeks for conventional financing.
Few documents needed -- Conventional financing today has onerous paperwork requirements; bank statements, income, tax records, credit checks and so forth. There is less paperwork needed for hard money financing because it is the property being reviewed not the borrower.
Credit not an issue -- Unlike conventional lenders, a borrower’s credit history is not a primary consideration. Foreclosure or bankruptcy history is not necessarily a disqualification for hard money financing.
Excellent for gap or bridge financing -- Conventional lenders are not comfortable with gap or bridge financing while other financing is obtained, but this is something AHL Hard Money Network excels in providing.
Financing for foreign nationals -- Conventional lenders will not typically finance real estate involving a foreign national, but this is available from hard money lenders.
Higher risk -- Hard money financing may have higher interest rates than a conventional lender, but they are accepting higher risk financing. Conventional lenders may not wish to finance churches, religious organizations, non-profit agencies or other entities considered higher risk because they don’t want the negative press if a borrower defaults.
There are other reasons why hard money financing from AHL Hard Money Network is a valuable option, so don’t feel your only source for money is conservative conventional lenders. Contact AHL Hard Money Network today at 813-516-5210 and discuss your real estate needs with us.