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How Long Does It Take to Get a Hard Money Loan?

Fast Financing is Yours! Get an Idaho Private Money Loan

In the world of real estate and investing, borrowers know that hard money loans provide a fast, easy qualify alternative when it comes to financing.

But just how quickly can you get a hard money loan?

It depends. Not every loan request is the same. And every private money lender has different terms. But one industry constant? A hard money loan is faster than a conventional loan.

How Fast is a Hard Money Loan?

When talking to prospective hard money lenders, it pays – literally – to know what questions to ask.

“How long will it take to close?” is an obvious one. But understanding the answer and how your lender works is important.

Private money loans are based on your available equity. Paperwork is minimal and the approval process is streamlined because credit and employment history are secondary.

Each hard money lender’s process is unique. Be sure to clarify if closing and cash in hand is – as example – two weeks from an initial inquiry, from receipt of application, or two weeks from loan approval.

Local, in-state hard money lenders can move faster than out-of-state lenders. Approval can also be helped or hindered by your commitment as a borrower. The more timely and thorough you are in completing your application, the quicker you’ll be approved.

If you have a tight closing deadline, let your lender know. If you’re prepared with an appraisal and title work, a hard money lender may be able to help you meet your goal.

Talk to Our Lending Team About a Streamlined Idaho Hard Money Loan

At Gregory M. Russell, we have helped Idaho real estate investors meet their investment goals for almost three decades. Clients appreciate our loan terms, our friendly service, our expert advice and our fast approval process. Simply apply online (it’s easy and quick) or call us at 1-888-477-0444 to learn about private money loan options. We’re here to help!