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A bridge loan or hard money loan from Prime Resource Capital can make all the difference when you are bidding on properties. If the property has sufficient equity, poor credit is often not an issue. We can fund projects based the performance of the underlying asset.
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Hard money loan is a loan secured by the value of a real estate property. Hard money loans are typically arranged at much higher interest rates than conventional commercial or residential property loans and are almost never issued by a commercial bank or other deposit institution but by private investors, generally via local areas brokers who specializing in arranging hard money loans.
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Hard Money Loans Hard Money Loans have the most relaxed income, credit, and capacity requirements when compared to any other type of home loan on the market. They are extremely beneficial for borrowers who cannot find alternate financing. Get Started When is a Hard Money Loan useful? Behind Payments If you have missed a few [.]
As a commercial loan broker, we look for lenders who are responsive and look for ways to close loans. Our experience with Michael was the best. Each time a problem pops up, he looks for ways to solve it instead of denying the loan. Working through problems in the underwriting process is his strong point. – Craig Naccari of Network Capital, LLC
Hard money is expensive, but it is available quickly with few questions or restrictions. If you are getting an excellent deal that needs to close quickly, a hard money loan could be the perfect solution. Investors who have a number of outstanding loans are also served well by hard money loans.