EXISTING PROPERTY FUNDING (VARIOUS TYPES)
why hard money loans
We prov
(owner occupied and income producing)
Hard money commercial loan
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Borrowers interested in purchasing commercial, industrial, or commercial income property may find that credit scores, legal obstacles or conditions related to the property itself (such as incomplete buildings, damage, etc.) may prevent standard funding from banks. Hard money loans are primarily asset base driven. While the financial strength of the borrwower is important, the value of the asset caries the weight. Contrary to land development and construction, the value of the existing asset (as is value) is the driving force for funding commercial hard money transactions.
In such cases, hard money loans offer a perfect short-term solution. Hard money finding provides time to cure whatever situations exist so that the property can be sold or conventional permanent funding can be obtained.
refinance are often needed where quick, non bank conforming funding can help to make a deal work.
HARD MONEY COMMERCIAL LOAN -PROPERTY TYPES
Basically any existing income producing property or owner occupied commercial property. Use of funds include construction, rehab, refinance (sometimes used for taking out seller financed deals),collateral for other purchases.