For borrowers who have only obtained mortgage financing through conventional banks and institutions, the process of obtaining hard money loans can be quite a different experience. This is because hard money lenders do not have the same requirements as bank loans, nor the same timing. One advantage to hard money is speed; however, to close the loan faster, there are a few tips to follow as a hard money borrower.
1. Get a full list of documents required to close from the loan: Cushner Capital Group, like every hard money lender, has a need’s list. Ask us for it and start sending the requested items on the list as quickly as possible.
2. Don’t provide us with more than the requested items. Only provide items on the needs list. Too much information can slow the process down or even derail it.
3. Anticipate lender concerns. Have you been declined by another lender already? What were the reasons for the decline? Make sure you let Cushner Capital know all of your possible concerns or questions that could prevent the loan from getting closed.
If you follow these simple rules you will get your hard money loans closed faster. Are you, or someone you know, pursuing hard money financing? If so, please call us at (760) 845-9035. We offer alternative solutions to lending challenges. We can act quickly, so that you can reach your real estate goals! DRE#00865708/NMLS#305266