The homeowners source for private money loans
How to obtain a hard money equity line from a private lender.
Short term loans to acquire or leverage a property temporarily are referred to as "hard money equity line". These loan's terms could range anywhere from a few days to a couple of years, depending on the needs of the borrower. The are used for both commercial and residential real estate, allowing a borrower to take advantage of an opportunity, then arrange for more permanent financing at a later date.
The amount of time that it takes to arrange this kind of financing is often the most important factor in hard money equity line . Usually the borrower trying to fix an immediate cash flow problem, personal issue or restructuring debt or avoiding bankruptcy.
Hard money equity line are made based upon the value of the real estate to be collateralized. These loans can close with very little paperwork in as little as few days . There is generally little review of your credit, business activities or income tax, this type of loan is focused on the project as it stands now.
Most lenders who represent themselves as making hard money equity line are actually mortgage brokers. Being specific about your needs our company is actually responsible for the lending decision and we can save you an enormous amount of time and money. Given the need for speed that is involved in hard money equity line, it is time and money that you cannot afford to lose. If you are in need of these type of loan as a regular course of business, working with a direct private money mortgage lender like our company will be worth the effort.
