Are Hard Money Loans Safe

Are Hard Money Loans Safe?

Published On: September 4th, 2018Last Updated: September 4th, 2018Categories: Hard Money

Hard money loans are a way of borrowing money for the purchase of a property without using a traditional mortgage. Hard money loans are the best route when money is needed in a hurry or if a traditional lender won’t approve your loan.  Most of us realize that traditional loan approval is an incredibly slow process. Plus, if there’s a negative mark on your credit score, they might not even approve you at all.

Hard money loans are much faster and you use the property as collateral to secure the loan. To hard money lenders the value of your collateral is much more important than your financial history.  Hard money loans are short-term loans that are perfect for house flipping projects or other property investments.

Hard money lenders, like Paces Funding, are able to close on the loan much more quickly than other lending institutions. It’s faster, because we don’t have to comb through your income verification and credit history like the banks do.

Are You Looking for a Hard Money Loan to Flip a House Or Buy A Rental Property?

Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.

Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.