Construction Loan Considerations: Best Practices for Lenders

2022-01-11T00:44:08-08:00Private Money Lending|

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 [...]

Staying Nimble in a Fast-paced Market with the Right Mortgage Technology

2022-05-09T05:40:02-07:00Private Money Lending|

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 [...]

What is the Difference between APY and APR for a Hard Money Lender?

2022-01-11T00:46:23-08:00Private Money Lending|

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 [...]

The Basics Of Seller Carrybacks: What You Need To Know

2022-01-11T00:48:09-08:00Private Money Lending|

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 [...]

What is the Definition of Specialty Loan? A Hard-Money Lenders Perspective

2022-01-11T00:49:10-08:00Private Money Lending|

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, [...]

Forbearance Agreements 101 – What To Do When Your Borrower Can’t Pay

2022-01-11T00:49:43-08:00Private Money Lending|

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 [...]

Understanding A Loan Term Sheet And Hard Money Loan Lending Terms

2022-01-11T00:51:38-08:00Private Money Lending|

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 [...]

Property Types Best Suited for Hard Money Loans

2022-01-11T01:02:31-08:00Private Money Lending|

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 [...]

How Subprime Loans Differ From Non-QM Loans: A Hard Money Lenders Perspective

2022-01-11T01:04:23-08:00Private Money Lending|

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 [...]

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