Hard Money Loans Jacksonville, is your way of funding your real estate investments quick and easy. While that is the evident scenario, there are a few questions that prevail among all potential hard money borrowers. Here lies some of them answered.
What is hard money? Hard money is a loan provided by an asset placed as collateral. In this case, the funds are drawn out on the asset under consideration. Therefore, the credit status or the income of the investor is not given prominence. On the other hand, conventional loans are drawn out in consideration of the income and credit of the borrower.
Why hard money? That is one question that requires a clear answer as there are many myths revolving around hard money. Hard money is not just for the desperate those who get rejected from traditional financial institutions. Even those major real estate investors choose hard money to fund their investments. All this is primarily owing to the quick and easy funding process that involves minimal documentation. Unlike with bank loans, there is no long drawn procedure. The application is quickly processed and funds provided to close fast.
What are the rates involved in Hard Money Loans Jacksonville? The rates typically vary largely from lender to lender and are also dependent on the location of the real estate. At BridgeWell Capital you can get an APR of 4.75% to 12.95% for Hard Money Loans Jacksonville. And also up to 80% LTV for loan periods ranging from one to 30 years. These are among the most competitive rates in the market today.
Once you opt for hard money loans, it is best to go with a trusted, reliable and consistent lender. BridgeWell Capital fits this description perfectly. Contact now to apply for a fund request for your next real estate investment.