Construction loan projects generally have several risks for private lenders. Circumstances such as leaving buildings halfway into completion and diverting loans for another purpose could severely affect the lender. When lending for large construction projects, lenders who take the effort to develop and apply [...]
The lending market is evolving again, and this time around, the industry and its players must respond to new regulations effectively. The Government of the United States has made it plain that lenders will be entrusted with helping the underrepresented communities in the country [...]
Lenders need emerging technology to help them stay adaptable and successfully handle constant change in the fast-paced, volatile mortgage market. An advanced product, pricing, and eligibility (PPE) system, in particular, might mean the difference between surpassing or failing to meet borrower expectations. To gain [...]
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 [...]
