Florida Beach scene highlighting our Hard Money Lender's Offerings
As you know, the normal banks have seriously tightened their conventional mortgage money.
Many borrowers are now turning to hard money loans to facilitate their borrowing
needs. We've witnessed a massive resurgence of borrowers requesting this type of hard money financing.
Hard money loans have always carried a stigma of good vs. evil. On one hand, they are expensive but on the other hand, they can facilitate great investment returns or save a home from foreclosure. Interest rates of ten percent and higher are a normal starting point for these costly loans. Lender origination fees are also high and typically start at 2 points (2 percent of the total loan amount borrowed.)
For many borrowers in these difficult financial times, this type of loan can be a wonderful resource. Instead of waiting weeks or months on a bank that will never fund, hard money borrowers know that their hardmoney loan will fund quickly and easily! With traditional lenders ailing from sub-prime losses, they have all nearly restricted their lending guidelines so that no one qualifies. With the advent of the hard money lender, comes relaxed guidelines and a more common sense approach to lending.