Hard money loans are short-term financing options that can be used as a loan for an investment property. This type of loan is ideal for home flippers, as it is quick and easy to get approved. Hard money loans do not come from traditional banks or large financial institutions, but rather private lenders, meaning approval terms can be much more flexible.
What makes a hard money loan so appealing is the fact that different lenders have different terms and selling points. For example, here at Brass Financial Group, we are known for our No Doc Hard Money loans. We do not ask for tax returns, W-2s, or anything to prove your income or credit worthiness. Instead, we focus on the property of interest in the deal. This way, it is quick and easy to get an approval!
When to Use a Hard Money Loan
A hard money loan is ideal for:
- Those purchasing an investment property
- Those rehabbing a rental property
- Purchasing a foreclosed home
- And much more
Why Choose Brass?
While we have already discussed the benefits of hard money in general, narrowing down which lender to choose can be a tricky process. In general, time means everything when purchasing a home to flip, as the longer that you wait to begin, the more issues could arise. What makes us special is our ability to routinely close loans in a convenient manner. Due to our approval terms, we can always finance deals quicker than our competition!