Property Types That Qualify For Hard Money Loans
Most people have discovered about the advantages that come with hard money loans and most of them come to our offices wanting to learn more about these loans. They don’t shy away from asking questions to ensure they understand what hard money loans are and why they need them. Some of the questions they ask are personal, and we cannot discuss them in this piece. However, there is this question that almost everyone who visits us asks; do you offer hard money loans in Orlando for every type of property? Well, our hard money loans work for most property types. Here are some of them.
There are a couple different benefits to financing a single-family home. First, the initial investment is almost always lower by 5-10% than the typical down payment amount for larger properties. With the loan amount being lower, it is easier for lenders to secure the amount you need. Another positive to single-family properties are renovation projects. Renovating is more manageable than it would be in a multi-unit property. This relates to another beneficial factor regarding tenants. Being able to tackle renovations easily in a smaller home, the house is able to be flipped more rapidly. All of these factors combined with less complicated upkeep for the home makes this a great choice to consider a hard money loan.
Who wouldn’t like to fund a multi-family property? The properties might be more expensive than single-family properties, but we all know that they are easier to finance. Multi-family properties generate a lot of income every month, which means that you will be able to repay your loan without difficulties. If you want to invest in the multi-family real estate, you can easily qualify for our hard money loans. However, for you to qualify for a loan, the income generated by the property must be able to repay the debt.
Commercial properties also generate large amounts of income every month, making them one of our favorite property types for us to fund. Want to invest in a commercial real estate property with a hard money loan? We can help you. However, the commercial property you want us to fund must be stable, with a long-term lease in place. This acts as an assurance that you will be able to repay your loan. At Capital Fundings we are experienced with the most complicated hard money loan rundowns, contact us to answer any questions about your next hard money loan in Orlando.