Houston Hard Money Lenders

If you have great credit, no foreclosure, and no short sales then you should go for a traditional mortgage and avoid a hard money loan. If, however, you have a less than flattering credit score and have been turned down by traditional lenders, our Diditan Financial team can help you get a hard money loan with the best terms possible given your predicament. The economy has had its ups and downs, and predatory lenders have taken advantage of people while deceivingly holding their hand as their credit was demolished. Your dream of being a homeowner should not be denied just because you made some poor decisions in the past when taking our first home loan. Contrary to buyers with credit challenges, there are occasions when people with ideal credit will seek hard money loans as their best option. For example, if you are an investor and need the money quickly to get in on the land investment, a hard money loan would be ideal. Another appropriate scenario would be if you were flipping several units in a building and needed them all completed by a set time in order to meet the demands of a real estate deal–hard money loans give you fast cash so you can pay your contractors and get the renovations done quickly in order to flip and sell the property on time.

Most Commercial Mortgage Brokers I come in contact with are missing an opportunity to make a LARGE commission check. When they encounter a borrower with existing secured debt of 80-90% of the property’s value, they turn the borrower away because they can’t get a refinancing large enough to pay off the existing liens.

In a number of these cases the current lender, once he is apprised of the situation, is willing to accept an immediate cash payment of something less than the full amount owed as payment in full. We have been successful in purchasing the existing note at a discount, and either refinancing with a new note or modifying the existing note. In all cases, the mortgage broker who brought us the loan received more than he would have with a conventional refi.

In one case, a bar in a suburb of Chicago, the borrower owed more than the property was worth in a first and second lien. We negotiated to buy the first lien for a 40% discount and to pay off the second lien at a 68 % discount (granted, a significant part of the principal balance was past due interest and associated fees). Btw, when the borrower is in default it is actually EASIER to negotiate a discounted payoff with the existing lender.

We’d be happy to look at any loan application you have and see if we can help.

As private mortgage lenders, we provide the professional real estate investor and property owner with the ability to borrow on underwriting criteria not available through institutional lenders. No credit check or detailed application forms are required and we can usually render a decision in 24 hours. All borrowers that wish to be considered for Private Mortgage Financial Partners funding must complete an application

You should be thinking about a hard money loan if you need cash equity for an investment property that you aren’t able to finance through traditional methods.

Most property investors usually obtain hard money loans when they are buying and flipping houses because most banks won’t finance a home that is deemed unlivable.

Hard Money Loans Explained
Hard money loans are short-term loans generally given to property investors that are looking to buy additional investment properties.

· Hard Money Loans Are Very Short Term Loans

· Must-Have Property to Give as Collateral

· No Credit Check Required

Hard money lenders are not concerned about your credit rating. Hard money lenders are more concerned about the collateral and will process your loan quickly if your collateral justifies the loan. They only care about the collateral. It’s important to be aware that hard money lenders aren’t always interested in taking possession of your property. The more information you provide about the value of the property, it’s initial cost, and after repair value – the faster they can process your hard money application.
Flexibility
Unlike standard loans, hard money loan arrangements and provisions are flexible. Instead of dealing with a large corporation, you’ll be speaking to an individual who is prepared to assist you to create the best loan possible. They do not adhere to a standardized set of guidelines when setting up your loan repayment schedule. Lenders are extremely flexible and work with you to give create a plan that works best. That means you can negotiate a flexible timeline, and negotiate every single variable of the loan. Each lender is different, so if one lender is being difficult – you can go to another one.
Approval
When it comes to hard money loans, the lender is most concerned with how secure the loan is. If you would like to invest in real estate, the lender will give you a loan value as much as 70-80% of the property value.
In case you have any issues with your credit history, that’s ok. Some lenders don’t even look at your credit score.
When it comes to loan-to-value ratios, hard money lenders prefer low ratios, with the highest being between 50 and 70 percent. They do this to give themselves a better prospect of getting their money back should they have to sell the property after your inability to pay the loan.
Accessibility
You can apply and get a hard money loan in a matter of weeks. This is valuable, especially to borrowers looking to buy a real estate investment property fast.

Or is so much cash readily available that having cash to make real property purchases no longer hold the cache it used to?

I’m not talking about the ability to get financing, or offers for all cash where you need 45 days to close. I’m talking about close in 48 hours cash.

For more information visit us : https://www.pmfpartners.com/

If you are running a business it is common to run into situations, where one may just suddenly require cash. A short term crisis may have emerged and you somehow need some cash. Now, at this moment we would just want to say that, the formal channels of sanction loans are bit complicated or even lengthy. In such a scenario if you need urgent cash, it is best to contact a direct private lender. A private lender, unlike the formal banks, can tweak a bit on norms and sanction you the cash quickly. In fact, your best option at this stage will be to go for hard money loans.

The hard money is a quick form of cash sanction simply because you are getting the cash based on your asset. It is referred to a short term loan but quiet often the duration can be extended to two years. Hence, one could say that it is not a bad idea, if you are looking for some short term cash. Therefore, one of the first priorities for you will be to contact an asset based lender. Someone lending on your asset will be able to offer the quick cash and your problems should be solved to a large extent.

Hard money provides an alternative source for real estate loans to the programs offered by banks and other commercial lending institutions. Often using pooled funds from investors, private lenders offer short-term loans with a minimum of hassle and quick approval for quick-turn real estate investment projects or other temporary funding needs.

Who we are, what we do ? and how we help people in Texas to get the right finance funding. Know about Us; Contact us directly. https://pmfpartners.com/ or Call us: (936) 588-8501

The principals of Private Mortgage Financing Partners, LLC, sponsor and manager of Private Mortgage Investments, LLC are real estate, finance, and banking industry professionals, with a combined 65 plus years of experience in real estate and lending. We have developed this platform to allow a greater number of investors access to high yield private mortgage investments and to provide the greatest amount of transparency possible.

The principals of many of our competitors are technology and computer specialists, with limited knowledge and experience in banking, lending, and real estate space. They consider their platform to be a technology company that happens to have real estate as the product. We are real estate finance people first and foremost, our platform is merely a better way to syndicate investment opportunities, not an end and means itself.

Private Mortgage Financing Partners, LLC is a true direct lender. We are not a broker or intermediary. Loans are made by Private Mortgage Investments, LLC.

For additional information or questions please contact us.

There are plenty of these short term borrowing options available in the market and the bridge loan is another of these options. It is another short term borrowing and the duration of this loan could be a year. Once again here the one can use the property as collateral. It is also essential to note that this loan also allows you to use inventory as collateral. These are all short term finance options and meant to keep your business running until you can arrange for some long term cash from banks or financial institutions.

PMF Partners, LLC provides its clients with the opportunity to close their financial loans promptly. PMF Partners, LLC does an excellent job in determining the true value of the deal. If you need money contact PMF Partners, LLC. https://pmfpartners.com/

Private Mortgage Lenders Magnolia,Texas . Private lenders in Texas.Contact us today to get your hard money loans.