You are equity rich and credit poor. This is a situation many florida homeowners find themselves in when they go to apply for a bank loan. They have scores in the 500s, charge-offs, or judgments that need to be cleared up. However, the bank turns them down. Many times the homeowners own a Florida owner-occupied or non-owner occupied property worth $200,000, $300,000, and up to $1,000,000 that is paid off free and clear. The bank however only uses credit, and credit scores and debt-to-income ratios. Sadly many of these good borrowers will be turned down.
If you need to refinance, a a hard money loan
may be your best bet. Hard money loans are an alternative to traditional bank loans. With a hard money loan, you can work with a private lender to get the money you need. To learn more about hard money loans, keep reading.
Hard money lending is an alternative source of money for individuals seeking a mortgage. Additionally, those who are in a unique mortgage situation can find assistance through hard money lending. If you’re curious about hard money lending, just keep reading.
As conventional banks become more cautious and conservative, investors can have greater difficulty in obtaining loans for real estate investments or improvements. Also, the recession in 2008 led to many smaller banks and lenders being absorbed into larger banking institutions. These factors don’t bode well for commercial real estate investors looking for prompt responses on financing. This is where hard money financing from AHL Hard Money Network can help.
Real estate investors must work quickly to secure desired properties having the potential to make them money. Unfortunately, the conventional loan industry is not in sync with real estate investing since loan approvals can take weeks or months. In addition, real estate investors often find that conventional lenders won’t approve loans on speculative real estate as they consider it high risk. This is where private lending from AHL Hard Money Network can be the best choice.
At AHL Hard Money Network, we offer hard money loans in Orlando. We understand that sometimes it is difficult to get approval for a traditional bank loan. Whether you’re self-employed, have poor borrowing history, or don’t have a credit score at all, a hard money loan can help you get the money you need. Learn more about AHL Hard Money Network’s hard money loans in Orlando by reading on.
*We do not issue approvals. We are a marketing and lead portal. You will be contacted directly by our private investors. They will call you directly to determine the value and equity in your home and to help you throughout the approval process. Each inquiry is on a case by case basis. Thank you.
