Powered by China Products(Top Trade Directory of China Products and Manufacturers) and China Manufacturers(Top China Manufacturers Directory) 网络营销, 网站推广
Formoy Finance&Money Information Service. takes pride in providing honest money loans counseling and money loan services to you at the best value for your dollar. Our features is a huge money loans selection of company, quote, hard money loan, money tree payday loan, fast money loan, private money loan counseling, solution, settlement, problem and more.
>> Service Show
Hard-money loans are mortgage loans that are offered by private individuals rather than financial institutions, such as banks or credit unions. These individuals are known as "hard-money lenders." Borrowers who do not qualify for mortgages through financial institutions often look to hard-money loans as an option.

What Is a Hard-Money Loan?
These borrowers usually have bad credit, insufficient income, or other factors that are considered undesirable to financial institutions. Property conditions may play a role as well, in why financial institutions categorize these borrowers as high risk. A hard-money loan may also be an attractive choice for borrowers who are behind on their mortgage payments or in danger of foreclosure.

With a hard-money loan, a private individual, who is oftentimes also the property seller, acts as the lender and extends a loan to the high-risk borrower. The hard-money lender can be a person, a trust, a real estate investment group, or any other private entity. Because the private lender is taking on this risk, this lender charges higher interest rates than traditional mortgages obtained through financial institutions. The interest rates on hard-money loans can be twice as high or higher than loans available through traditional mortgage lenders. This is simply because these borrowers are considered much higher-risk candidates. But buying a hard-money home loan can be a great option for someone whose other financing options are non-existent.

Despite higher interest rates, there are some advantages to a hard-money loan. The borrower can negotiate the interest rate and other terms and conditions more easily with the private hard-money lender than with a financial institution. The borrower also saves money on title insurance premiums and attorney's fees a€“ charges often applied by financial institutions. Because borrowers don't have to wait for mortgage approvals from financial institutions, the closing period is also considerably shorter.

German Spanish French Italian Portuguese Japanese Korean Arabic Russian
2000-2015 CopyRight © Formoy Finance&Money Information Service. All Rights Reserved.