Often, the loan amount the hard money lender is willing to lend a borrower is determined by the ratio of loan amount divided by the value of property. This is known as the loan to value, or commonly by the acronym – LTV. Depending up on location and quality of borrower and property, many hard […]
Am I Candidate for a Hard Money Loan?
If you have strong equity in or a substantial down payment for a piece of real estate yet the banks decline you, you may be an ideal candidate for a hard money loan. Unlike mortgage banks or agencies like Fannie Mae or Freddie Mac, which have credit FICO score minimums, income to debt ratios, job […]