A hard money loan is an asset-based type of loan where a borrower receives funds secured by real, or “hard,” property. These hard money loans in are predominantly used for private real estate loan transactions and involve a private lender rather than a bank.
They also tend to have a shorter funding window, since the funding is based on the physical property rather than the financial standing of the borrower. They are similar to a bridge loan, with similar lending criteria and circumstances.
Both are short-term and, in the event that a bridge loan is secured with property, neither rely on a credit score to be approved. If you are in a position where you need to raise funds quickly for your business or project, hard money loans may be right for you.
For commercial real estate-based short-term needs, hard money bridge loan lenders in Denver, Colorado, can help secure funding for your project while awaiting permanent or next-stage financial backing. Hard money bridge loans are often overlooked due to higher interest rates and shorter payback terms.
However, they can be a good option when financing needs to be arranged quickly and with less paperwork.
In case of a stuck deal where a property owner is bidding on a new property but hasn’t sold the current property yet, our bridge loan lenders can consider the collateral property to calculate the loan amount.
Bridge loan rates in Colorado are based on the values of new and current properties combined through a percentage of the current property only. If you are looking for trusted bridge loans then you can choose us. People’s trust is increasing with every transaction.
Pinetree Financial can provide for all your Colorado real estate loan needs through our wide range of customized private lending options. Our process of providing hard money construction loans is not just quick but also free of surprises and the usual red tape associated with other national hard money lenders.
In cases where a person does not qualify for a traditional bank or government loan, or if they are needing a speedier process based on property and not financial standing, Pinetree Financial has plenty of hard money construction loan options. As an added benefit, we, the national hard money lenders guarantee approval of your new construction loans and other Colorado real estate loans requirements once the initial application has been cleared.
At Pinetree Financial, we feel there is no need to waste time waiting for approval on your Hard Money loan application when alternate financing is available at fair rates. Pinetree Financial offers a faster, hassle-free road to the property or project of your dreams. We don’t like red tape any more than you do, so we have honed our process to remove as much of it as possible.
Hard money real estate loan is usually the best bet for people who cannot secure a loan from an institutional lender or bank. The reasons for hard money loans vary but may include ineligibility or previous loan default.
Hard money loans are also popular among property enthusiasts who like to deal in quick trades and fast money. This type of loan fulfills investors’ need for quicker processing and fast money where they can avoid foreclosure or gain an upper hand over the competition in markets where speed is of the essence, such as the fix and flip trade.
In a variation of a hard money loan called the Foreign National Hard Money loan, foreigners who cannot get funding from US government banks due to lack of proper income documentation or proof can still obtain financing through this type of loan.