Contents
Hard Money Loans With No Money Down
construction services (a form of "soft money" financing) to direct equity. pay the hard and soft costs of construction. is lending money to the client in the.
"There’s no maximum – we’ve done $1.5 million to $2 million loans, also small loans for $30,0000 where the borrower already bought the property and just needs construction funds. alternatives to.
Straightline Funding is the premier hard money lender in the Southeast and Midwest. Direct hard money loans for real estate investors. Fast Answers and Reliable Real Estate Investor Loans.
RCN Capital is a nationwide, private direct lender. Established in 2010, we provide short-term fix & flip financing and long-term rental financing for real estate investors. Our loans, often called hard money loans, range from $50k to $2.5M and can be used for the purchase or refinance of non-owner occupied residential & commercial properties.
We offer "hard money rehab loans" and "Ground up Construction Loans" for investors only in NC, SC, GA, VA and TN (some areas of FL, as well). As part of our business practices, we also serve as consultants for investors guiding them to network with other investors and educating them in locating and structuring transactions.
“There is money out there if you look hard enough.” Bank lenders-the traditional source of construction capital-are offering smaller loans compared to the cost of development, when they offer to lend.
Hard money construction loans are the faster and easier alternative for obtaining financing for the construction of a residential or commercial property. traditional lenders such as banks can take 45-60 days to fund a construction loan, while a hard money construction lender can fund within a couple weeks.
Most hard money lenders charge 16-18% interest and thousands in up-front fees. By the time you factor in the loan costs, there isn’t any profit left in the deal for you. In addition, hard money lenders have tightened up their borrower requirements over the last few years, so actually getting them to fund your deal is next to impossible!
With most hard money loans, the loan amount is based on the as-is house or lot value combined with repair or construction costs. An additional benefit of a hard money construction loan is that there is no minimum credit score. However, keep in mind that unlike hard money fix and flip loans,