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Hard Money Loan Cincinnati
Hard Money Loan Cincinnati Benefits:
* Up to 90% of Purchase, 100% of Rehab.
* Fast Close! As Fast As 5 Days!
* Fix and Flip Loans Cincinnati
* Multifamily Loan cincinnati
* Ground Up Construction Loans
* Commercial Real Estate Loans
Hard money loan Cincinnati Ohio provides a Fast Close for Investment Properties and Commercial Real Estate. Fix and Flip, Fix to Rent, Multifamily, Commercial real estate. We have Purchase, Refinance and Cash out Refinance programs available. Hard money programs can finance up to 90% of the acquisition on fix To flip/Fix to rent and 85% of multifamily acquisition and can provide 100% of the construction costs. For all of your hard money needs contact us today!
Hard Money Loans Cincinnati Custom Built for Real Estate Investors
The nations #1 Lender for Fix and Flip and Fix To Rent Investment Loans
Fix & Flip Loans 90% LTC and up to 100% of fix up costs.
How Does A Hard Money Loan Cincinnati Work
A hard money loan is a way for you to borrow money for real estate without using traditional mortgage lenders. Instead, the funds come from individuals or investors who lend money based primarily on the property you’re using as collateral.
Traditional mortgage loans require proof that you can comfortably repay the debt. Lenders often review your credit scores and any income available to evaluate your creditworthiness. If you have plenty of income, savings, or can get another collateralized loan you might not need to worry.
Hard money loans are generally short-term loans, lasting from 1,2 or three years. You use them as a quick way to get money for a purchase. However, you wouldn’t want to keep one of these loans for an extended period because interest rates for hard money are typically relatively high.
Benefits of Hard Money Loan in Cincinnati Ohio
Hard Money Loans Are Approved And Funded Quickly
Real estate investors who haven’t previously used hard money will be amazed at how quickly hard money loans are funded compared to banks. Hard money loans can be funded with 3-5 days if needed. Compare that with 30+ days it takes for a bank to fund. This speedy funding has saved numerous real estate investors who have been in escrow only to have their original lender pull out or simply not deliver. This is a perfect situation for a hard money lender to step in, provide financing quickly and save the deal.
Hard Money Loans Have Few Requirements
Banks also have a list of issues that will raise a red flag and prevent them from even considering lending to a borrower such as recent foreclosures, short sales, loan modifications, and bankruptcies. Bad credit is another factor that will prevent a bank from lending to a borrower. Most banks will not lend to a borrower who already has 4 mortgages even if the borrower’s credit is perfect with no other issues.
Hard Money Loans Provide Funding For Projects That Cannot Be Financed Elsewhere
Hard money lenders provide many loans that conventional lenders such as banks have no interest in financing. A good example of this is a fix and flip loan. These projects involve a real estate investor purchasing a property with a short term loan so that the investor can quickly make the needed repairs and updates and then sell the property. In most cases, the real estate investor only needs a 12 month loan. A 12 month term doesn’t work with a bank’s business model. Banks want to lend money for the long term and are happy to make a small amount of interest over a long period of time.
*Up To 80% LTV
* Cash Out Refinance
* 15-30 Day Close!
* No Income Required
* No Employment Required
FIX TO RENT
*Up to 90% of the Purchase
*100% of the Rehab.
* Closing as fast as 5 days!
* Fix to Flip or Fix to Refi .
* 30 or 40year DSCR loan
CASH OUT REFI
* Cash-out & Refinance
*30 or 40 year loan..
* Closing 30 days!
* Up To 80% LTV
*Ground Up Construction
Up To 80% Of Land
* 100% of Construction
* Builders and Developers!
Not just Cincinnati Ohio Hard Money Loans, we are offering following loans as well:
CambridgeHomeLoan.com takes an active part in helping our customers achieve their long term goals. Fast closings and refinancing into better rates when it matters. Feel free to contact us with your loan scenario at 800-826-5077.
Fix and Flip or Fix To Rent Loans can be closed in just 5-7 days. If you would like to prepare for your first deal contact us for a soft quote and our due diligence check list.
From your first investment real estate loan to putting together a portfolio loan for all of your investment properties, CambridgeHomeLoan.com is the resource that can help you from the very beginning of your investment career.
CambridgeHomeLoan.com can manage all of your real estate loans from ground up construction, spec houses to fix and flip and fix to rent home loans. When you want to get your price and close in just a few days to easy rehab draws that can help you get your project done on time and in budget. Give us a call today with your project outline and we can give you the possibilities.
A hard money loan Cincinnati is a loan given to your borrower from a lender based primarily on the worth of the collateralized asset that is underlying. Where asset based lenders aka hard money lenders focus primarily on the value of the asset used as collateral for the loan, traditional banks and lenders focus chiefly on the credit and income of the borrower. Where traditional loans are generally for 15–20 year durations, hard money loans are used as a temporary alternative (1–3 years usually) as a bridge to acquire a rehab, or stabilize a commercial, retail, office, industrial, multi–family, or single family residential home.
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