4 Options for Refinancing a Hard Money Loan – Financial Web – Getting a fixed mortgage can provide you with a long-term solution and a low, fixed rate. You should be able to shop around since this is a very common type of financial product in the market. If your credit has improved, there is a chance that you will be able to secure a good fixed mortgage and pay off the hard money loan.
Hard Money Loans Borrowers | Socotra Capital – Hard Money Loans and Real. – Private Money Loans for real estate purchases and Refinances. Socotra Capital provides equity-based, private hard money loans for residential and commercial real estate of all types. We have programs for borrowers that need hard money, private money, or a bridge loan.
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How to Get a Hard Money Loan Approval – wikihow.com – Consider the pros and cons of accepting a hard money loan. hard money loans are designed to be short-term investments, generally lasting 12 months. Will you be able to refinance this loan in that time frame? Hard money loans also have higher interest rates than long-term loans; their interest rates generally range between 12 and 20 percent.
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Hard money loans are generally short-term loans, lasting from one to five years. You wouldn’t want to keep them much longer than that anyway, because interest rates for hard money are generally higher than they are for traditional loans.
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Hard money loan – Wikipedia – The loan amount the hard money lender is able to lend is determined by the ratio of loan amount divided by the value of the property. This is known as the loan to value (LTV). Many hard money lenders will lend up to 65-75% of the current value of the property. What is most important to the lender is the loan-to-value (LTV) ratio.
With typical repayment periods of one to five years, hard money loans are most suitable for short-term projects, such as when an investor expects to quickly fix up and sell a property for a profit.