The difference between APY and APR is one of the most common questions hard money lenders get. The annual percentage yield (APY) is similar to the annual percentage rate (APR) used in the credit industry. The annual percentage rate (APR) illustrates how much a [...]
Selling real estate sometimes can be tricky, especially when the market is uncertain. Even if there are willing buyers, such a broker can not be certain of closing the sale. Selling real estate can be difficult, especially when the future of the market is [...]
There are loans known as Specialty loans. According to their name, they have special features. For example, consumer and business loans can have specialty loans. Consumer loans can be likened to residential mortgage loans in which the loan proceeds are primarily used for personal, [...]
In a bid to ensure that lenders are well protected in situations where borrowers are having financial difficulties and require assistance for a limited time to manage their loan payments, lenders must assess a borrower's circumstances before deciding whether to proceed with a loan [...]
A loan term sheet aims to provide loan applicants with a sense of the parameters and terms involved in the loan they are asking for. Understanding a hard money loan term sheet might be tough for new hard money lenders. A lending document contains [...]
Hard money lenders usually consider if the property is owner-occupied or non-owner-occupied. However, hard money lenders often will not provide loans to owner-occupied properties because the lender must adhere strictly to some regulations during transactions. For instance, owner-occupied properties often come with more paperwork [...]
Today's home mortgage market is characterized by a unique collection of circumstances that have accumulated on top of one another. This has created a level of strain and urgency that has never been seen before, bringing a perceptible "heat" to every sector of the [...]
Without prior knowledge from anywhere concrete by the real estate or finance industries, the topic of hard money lending might be a bit surprising. What are hard money loans and soft money loans? Obtaining a hard money loan is easier and comes with flexible [...]
When the Great Recession of 2008 hit the world, millions of Americans lost their homes. Even the housing market that is always known to experience an increase against all odds collapsed. The National economy was left in shambles. Although the blame game started, but [...]
If you are new to hard money lending, it is normal to have a series of questions. Moreover, it's different from conventional lending. The hard money loan process is much simpler, and it has similarities. Hard money lenders are individuals or investment groups that [...]
