Why Hard Money Loans Preferred By Serious Real Estate Investors
Category : Hard Money Loans , Real Estate Loans
Hard money loans, also called bridge loans, are still the top choice for real estate investors since the banking crisis of 2008. Many real estate investors have bad credit after the real estate crisis and can no longer qualify for bank financing. Fortunately, the availability of hard money loans has allowed these real estate investors to start investing again.
The best real estate investors are able to grab new opportunities quickly using hard money loans. Because hard money loans are similar to “all cash offers,” real estate investors have been able to take down more real estate deals using these loans, even with heavy competition.
Because the requirements of hard money loans are primarily based on the real estate being used as collateral, bad credit is usually not a factor. And in most cases, you don’t have to show income to qualify for a hard money loan.