5 Helpful Tips on Getting an Idaho Hard Money Loan
The better your credit, the easier it is to get a loan.
But loan approvals are less reliable if unexpected hardships have put a ding in your credit rating. Conventional lenders have policies and procedures that can severely limit your ability to get financing when your credit is less than perfect. If you’re purchasing real estate or making property improvements, you may need other funding sources.
Hard money lenders base their loans on different criteria. How do you know if a hard money loan (sometimes referred to as a private money loan) is a good fit for you?
5 Quick Tips: Is a Hard Money Loan a Good Fit
- Purpose: Are you financing an income-producing real estate deal that will help pay off your loan and get you extra cash for improvements? Talk to a private money lender.
- Asset: Do you have equity in a property and clear ownership of the asset to be used as collateral? A hard money lender will be willing to talk terms with you.
- Repayment: Do you have a well-thought-out plan for timely repayment that ensures you won’t lose your asset? A hard money loan is worth considering.
- Terms: Will you take time to read all documentation and thoroughly understand and accept loan terms and conditions? You can responsibly sign off on a private money loan.
- Lender: Have you researched and found a reputable hard money lender who is communicative, helpful, experienced, and compliant with regulations? A hard money loan can be for you!
Get an Easy-Qualify Idaho Hard Money Loan with Our Expert Team
Hard money loans offer a great way to meet investment goals. Gregory M. Russell has been a respected Idaho hard money lender for almost three decades. We loan to clients throughout the Northwest – helping them to build success stories as investors. We loan based on available equity, not credit or employment history. Give our private money lending team a call today to learn more about our services at 1-888-477-0444, or complete our simple online application form. We look forward to learning more about your loan needs!