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 [...]
If you are planning to buy your first home, one important thing to do is to check if there's enough money saved for a down payment. Also, if there are no funds, then you have to source funds. Having a home is an essential [...]
Private lenders are usually chosen over a full-fledged financial institute for a mortgage loan. One reason for this is that private lenders can approve loans much quicker than other financial institutions, such as banks. One of the prominent features is that hard money lenders [...]
The use of borrowed capital to produce financial benefit is referred to as leverage in the loan business. When profits are expected to exceed interest payments, investors generally use leverage. This is because, when utilized correctly, leverage may greatly boost your overall cash on [...]
Since the pandemic hit in late 2019, mortgage delinquency has dropped drastically, with the lowest being experienced lately. However, borrowers and lenders are still going through several financial challenges. As of August 2021, about 4% of mortgages in the United States were delinquent for [...]
Hard money lenders usually fund based on a loan-to-value ratio (LTV), which means they lend up to a particular proportion of the property's current market worth, usually 65-75 percent. Some lenders may also lend based on the property's after-repair value (ARV), which is the [...]
MBA is expecting a sharp hike in forbearance exits over the coming month. In August, the number of loans in forbearance stood unchanged from the usual 3.25% for the week. According to the most recent report from the Mortgage Bankers Association, 1.6 million homeowners [...]
For giving repair property loans, hard money lenders are generously compensated. Hard money loans are used by most people who adore real estate and want to repair up or restore run-down properties. The hard money loan industry brings together investors eager to make a [...]
With the recent activities surrounding the rate at which mortgage rates are fast rising, the lenders have made an important announcement of the launch of SOFR ARMs products, specially for the broker channel. Homepoint, a Michigan-based wholesale lender's latest firm, is one of the [...]
