HardMoney Company

Benefits of Our Hard Money Rehab Loans

Traditional home rehab loans through a bank can take weeks to process as well as they typically offer difficult rates for a real estate investor to manage. Hard money rehab loans are able to provide investors with the capital they need to remodel their investment home in a short period of time with flexible terms and conditions..

Home - HardMoney Company Loans from $50,000 to $5,000,000 Hard Money Loans Making Hardmoney Fast and Easy! Apply Now! Types of Loans The HardMoney Company will provide you with the capital needed for a variety of different projects. Learn about the different types of loans our team offers. Read More Our Easy Process Learn a...

What is House Flipping?

Before you start applying for loans for flipping houses, you must understand what you’re getting into. House flipping is when a person or persons buys a house with potential for improvement or “upside” for profit at a discounted price. After the renovation, the house is sold at a higher price, and a profit is gained. Many people who flip houses are in the real estate industry to make extra income, and some make this their primary business. Although this type of business can be perceived as risky, flipping houses can be very lucrative and financially beneficial if it’s done correctly.

The typical types of loans used for flipping houses include Hard Money Loans, Rehab Loans, Fix and Flip Loans, Bridge Loans, Traditional Mortgage Loans, Private Loans, Personal Loans, Home Equity Loans, and Home Equity Line of Credit.

HardMoney Company The HardMoney Company is a premier private money lender from the Mid-Atlantic to South Florida region, with offices located in Washington, DC and Aventura, Florida. Our private lenders have experience providing hard money loans of all sizes, anywhere from $50K-$5M. If you are looking for a hard mone...

When Should I use a Hard Money Loan?

People use hard money loans for several reasons. The first is speed. If a borrower is looking to move on a property quickly and cannot wait for a conventional loan to be approved, a hard money loan is a great solution. Hard Money lenders are sometimes able to make their underwriting decisions and issue terms on the first call. Some states such as Florida take longer. Another reason is past credit issues. A hard money lender is willing to overlook past credit issues such as foreclosures, late payments, and bankruptcy. They have less stringent underwriting guidelines which allows a much faster loan process. This is an important piece for borrowers.

How to Get a HardMoney Loan

Hard money lending can work out well for investors seeking less traditional financing options. Regardless of the type of loan you are pursuing, most hard money lenders will require the following information in order to finance your project:

*Cost of initial property acquisition and purchase contract.
*Estimated After Repair Value (ARV) of property.
*Proof of funds for down payment on the loan.
*Proof of income

The lender may utilize factors such as appraisal, purchase price, and nearby property values in order to determine the Loan to Value (LTV) of the borrower’s property. First loan terms and fees for things like appraisal, taxes, and legal fees will be determined. Then once terms are set, the broker will move forward with determining the LTV. With a high quality lender, nothing should seem hidden or unknown. Any reputable hard money lender will clearly communicate to potential borrowers what their process for application and lending looks like. Expect the process to move quickly and with clarity.

How to Choose a Quality Hard Money Lender?
Hard Money Lenders should have expert knowledge of local real estate markets and state regulations. For this reason, finding a hard money lender in your area is suggested. Many companies operate in multiple states with specialists in each area. Look for lenders who maintain experienced staff in each area they do business. Your hard money lender will be providing capital based on the real estate value of your property, so look for a reputable lender whose experience encompasses both consumer finance as well as real estate and property investment. Moreover, search for hard money lenders that have the following:

Staff whose specialty is fiscal and regulatory accountability, such as legal counsel and a controller or comptroller, can protect the borrower against businesses that jeopardize their solvency or legality.
Qualify as a member of the American Association of Private Lenders. This gives an additional stamp of approval and accountability.
Considered to be reliable hard money lenders. For instance, it is wise to use local resources such as Better Business Bureau ratings, local business, commerce organizations, and word of mouth recommendations from industry peers who may have also used the lender in the past, to determine this.

What Are the Advantages of Working with Hard Money Lenders?

Hard money lenders create prime opportunities for quick capital. Hard money can also help people get immediate cash out of properties through refinancing options. Common benefits of working with a hard money lender over a financial institution include:
The quick & flexible process – there’s no one size fits all approach. Unlike a traditional mortgage, approvals from hard money lenders may only take one day! Terms are agreed upon for appropriate down payment, interest rate, and loan duration.
Fewer Requirements – hard money lending does not involve lots of strict red tape. It’s the opposite of traditional lenders, who look through the entire financial situation, from income to debt, credit history, and assets.
Rapid Funding – hard cash is easier to secure than from traditional lenders.
No Pre-Payment Penalties – traditional institutions charge when circumstances change. Hard money lenders typically structure loans without added fees.
Low Credit Accepted – hard money lenders base decisions on property value rather than credit. Investors with a credit score of 620 or higher are typically approved.

What is a hard money loan and what does it entail?
Hard money loans are short-term real estate loans that are collateral based and secure the lender's interest with real estate. The "hard" stands for hard assets. Hard money loans can be utilized by people to “Fix & Flip” properties, do hard money construction loans, or to get funds out of a current property.
With a hard money loan, since the lender is taking the risk, the interest rates tend to be higher than a bank loan. Because hard money lenders secure their loans with real property as collateral, they are evaluating the borrower's equity in the property. The maximum amount of hard money a lender is willing to extend, or leverage, is based on the percentage of the property's value.
Hard money lenders are most concerned about the loan to value (LTV), that is the loan amount divided by the value of the property. The benefit to the borrower is that they stand to make a strong profit once they complete their rehab project within the time allotted for their note.

What is a hard money loan and what does it entail?

Hard money loans are short-term real estate loans that are collateral based and secure the lender's interest with real estate. The "hard" stands for hard assets. Hard money loans can be utilized by people to “Fix & Flip” properties, do hard money construction loans, or to get funds out of a current property.

With a hard money loan, since the lender is taking the risk, the interest rates tend to be higher than a bank loan. Because hard money lenders secure their loans with real property as collateral, they are evaluating the borrower's equity in the property. The maximum amount of hard money a lender is willing to extend, or leverage, is based on the percentage of the property's value.

Hard money lenders are most concerned about the loan to value (LTV), that is the loan amount divided by the value of the property. The benefit to the borrower is that they stand to make a strong profit once they complete their rehab project within the time allotted for their note.

Hard Money Lenders & Private Money Lenders | HardMoney Company HardMoney Company provides loans, rehab loans, commercial loans, fix and flip loans and bridge loans. Learn more about how HardMoney Company can help you!

The HardMoney Company offers a variety of different hard money loans to clients in Florida, Virginia, and the Mid-Atlantic. Our team will provide the capital needed for a variety of different projects. Learn about the different types of loans that our team offers.

Commercial Hard Money Loans
Rehab Loans
Fix and Flip Loans
Bridge Loans

Pros and Cons of Flipping Houses

House flipping can be a very lucrative and exciting profession. If done correctly with good planning and budgeting, house flipping is creative and exciting. However, many new house flippers can get in trouble by making ill-informed decisions on repairs and materials, time of year for sales, taking too long to sell the property, or getting stuck with a property that just won’t sell. Purchasing the house you want to flip means you have the funds to cover the required payments to get the work done as quickly and efficiently as possible. Budgeting the money you need to efficiently and effectively complete your flip is integral to ensuring your flip is lucrative.

House flipping is an investment that requires strong and secure funding to get a good return on investment. A house flipper needs to do their due diligence and research before buying. You need to be prepared to live with risk and worry throughout the renovation process. When learning how to flip a house, here are some of the top things to do. To learn more
tips for House Flipping and Private Funding, follow/like us on FB Company.

*Research the market/neighborhood you are buying in, drive and comb through neighborhoods that will return the best investment, find the right home, obtain a good estimate on repair and rehab costs and needs, and create a budget based on the needed repairs
*Secure funding, oversee repairs, oversee renovation, oversee inspections, and prepare a marketing strategy
*Meet with prospective buyers
*Make a sale.

Hard Money Lenders & Private Money Lenders | HardMoney Company HardMoney Company provides loans, rehab loans, commercial loans, fix and flip loans and bridge loans. Learn more about how HardMoney Company can help you!

How Does Hard Money Lending Work?
Hard money lending is used to acquire investment properties quickly. An easy real estate transaction, hard money lending does not apply conventional standards to extend credit. Most often, hard money lending relates to wholesale funding, fix-and-flip projects, and rental property renovations.

Hard money lending works differently. Private lenders rely on property value, rather than a borrower’s credit based on income, debt, and loan history. While easier to manage than a financial institution, the quick approval process also comes with higher interest rates since hard money lenders are assuming higher risks than a traditional financial institution may approve. Hard money lenders may charge anywhere from 7–15% of the entire loan amount.

HardMoney Company HardMoney Company is a private lender with offices in Washington, DC, and South Florida.
Jerry Bouch

Hard money loans are short-term real estate loans that are collateral-based and secure the lender's interest with real estate. The "hard" stands for hard assets. Hard money loans can be utilized by people to “Fix & Flip” properties, do hard money construction loans, or to get funds out of a current property.

Hard Money Lenders & Private Money Lenders | HardMoney Company HardMoney Company provides loans, rehab loans, commercial loans, fix and flip loans and bridge loans. Learn more about how HardMoney Company can help you!

With interest rates rising and bank lending tightening, the Hard Money Company has plenty of funding for your real estate investing.

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