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 [...]
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 [...]
