7 08, 2019
  • What is Loan-to-Value Ratio in a Hard Money Loan - Paces Funding

What is Loan-to-Value Ratio in a Hard Money Loan?

By |2019-07-07T12:15:51-04:00August 7th, 2019|Categories: Loan|Tags: , , |0 Comments

Many lenders require that certain loans be secured with collateral. The actual value of the collateral (usually a property) is used in combination with a variety of factors, such as creditworthiness, to determine how much money a creditor feels comfortable lending you. You’ve probably encountered the term “loan-to-value ratio”, and may be wondering what that means. Related: Investors are buying huge parts of the housing market. Here's what you need to know. What is Loan-to-Value Ratio in a Hard Money Loan? The loan-to-value ratio (LTV) is a method of determining what percentage of a property’s value can be issued as

30 01, 2018

Can I Use A USDA Loan To Flip A House?

By |2018-01-30T23:45:13-05:00January 30th, 2018|Categories: Flipping, Foreclosures, Home Improvements, Loan|Tags: |0 Comments

Requirements for USDA Loans are pretty set in stone. Though income limits will vary based on the location of the property, other rules do not vary. Unfortunately for people hoping to qualify for a USDA loan in order to flip a house, these loans can't be used to purchase an income producing property, and they only apply to owner occupied properties. So, if you want to use a USDA loan, it will need to be used for your permanent residence. You also have to be a U.S. citizen or a permanent resident. So, if you already have your own home, and

31 05, 2016

Creative Ways to Find Down Payment Funding

By |2016-05-31T10:00:51-04:00May 31st, 2016|Categories: Down Payment, Hard Money, Loan, REIs|0 Comments

  As a real estate investor, you’re all too aware of the challenges you may face when you’re trying to find a down payment on house you really want to buy. Unfortunately, many people aren’t able to purchase the properties they want because they can’t fund the down payment—but as a real estate investor, you may be a little more resourceful than the average Joe. So how can you fund a down payment if you’re having a tough time? Creatively Funding a Down Payment Because a hard money loan typically requires you to contribute toward the property’s purchase, if you

12 05, 2016

From Salaried Employee to REI: What You Need to Know

By |2016-05-12T10:00:58-04:00May 12th, 2016|Categories: Hard Money, Investment, Loan, Real Estate, REIs|0 Comments

When you leave a company—one that gives you health insurance, paid vacation time and other benefits—to become a real estate investor, it’s a little scary. Okay, so it’s extremely scary. What if you don’t make it? What if things go horribly wrong? Everyone thinks about these things. We’re hard-wired to envision the worst-case scenario, so it makes sense that many people change their minds and avoid taking the leap. But what if you’re one of the few who can see past the potential bad outcomes? Here’s what you need to know about the major life change involved in leaving your

11 05, 2016

Private Money Lenders vs. Hard Money Lenders

By |2016-05-11T10:00:06-04:00May 11th, 2016|Categories: Hard Money, Loan, Private Lending|0 Comments

What’s the difference between a private money lender and a hard money lender? The short answer is that there are some differences—and if you’re a real estate investor, you’ve probably heard the two terms used interchangeably. Differences Between Private Money Lenders and Hard Money Lenders A hard money lender such as Paces Funding is able to provide capital quickly. Private lenders are able to do so, too, but there are differences that may make all the difference in the world. Hard Money Lenders Hard money lenders typically have lending criteria. For example, Paces Funding’s loan criteria for residential properties include:

18 02, 2016

The Real Reason Your Construction Loan Was Denied by a Major Lender

By |2016-02-18T10:00:03-05:00February 18th, 2016|Categories: Construction Loans, Investment, Loan, New Construction, New Home Development, New Homes|0 Comments

If your bank will not approve your construction loan, you may feel as if it’s because of something you’ve done. In reality, however, you are most likely part of a growing trend. We’re going to crunch the numbers for you to identify why you are not alone, and what you can do about it. As the reports from the FDIC show, bank-approved real estate loans in general have been on the decline for years. The third-quarter report for 2015 shows that real estate loans accounted for less than 3 percent of all bank activity – that’s not much, especially when

28 12, 2015

How to Find a Hard Money Mortgage Lender

By |2015-12-28T10:00:50-05:00December 28th, 2015|Categories: Hard Money, Loan|0 Comments

  When you’re a real estate investor looking for the financing you need to jump on a great deal, the truth is that there aren’t many lenders capable of fitting into your timeframe. If you’re like many REIs, you’ll turn to a hard money lender. But how do you find a hard money lender who has agreeable terms and can get you the financing you need… when you need it? How to Find a Good Hard Money Mortgage Lender Before you take out a hard money loan, it’s a good idea to become familiar with the terminology involved – that

15 12, 2015

Is a Hard Money Mortgage the Same as a Bad Credit Mortgage?

By |2015-12-15T10:00:12-05:00December 15th, 2015|Categories: Hard Money, Loan|0 Comments

There are a number of reasons an investor may choose to use a hard money loan instead of a conventional mortgage – and one of them is credit. Is a Hard Money Mortgage the Same as a Bad Credit Mortgage? It wouldn’t be fair to say that a hard money mortgage is the same as a bad credit mortgage. In fact, it’s like comparing apples to oranges. Hard money loans are typically short-term financing. Most hard money loans last for 12 months or less, and some people use them to bridge the gap between selling one property and purchasing another,

7 12, 2015

How to Find the Best Hard Money Lender in Atlanta, GA

By |2015-12-07T10:00:21-05:00December 7th, 2015|Categories: Loan|0 Comments

If you’re looking for a hard money lender in Atlanta, GA, chances are that you’re a real estate investor or you’re otherwise self-employed, which can make traditional financing difficult. In other cases, people use hard money lenders in Atlanta for: Bankruptcy bailouts Emergency cash-out for miscellaneous needs Foreclosure bailouts Short-term financing related to real estate for any reason Other transactions lenders can’t perform If you’re shopping around for the best hard money lender in Atlanta, here’s what you need to know. Finding the Best Hard Money Lender in Atlanta In order to find the best hard money lender in Atlanta,

30 11, 2015

What is Hard Money?

By |2015-11-30T10:00:54-05:00November 30th, 2015|Categories: Hard Money, Loan|0 Comments

A hard money loan may be exactly what you need if you’re a real estate investor (or if you want to become one), so it’s important that you understand what it is and how it can help you. What is Hard Money? Hard money is a type of loan that relies on an asset as collateral. In real estate investing, that’s typically the house you’re borrowing against. These types of loans are backed by the value of the house, not necessarily by the borrower’s credit history or other factors. For that reason, though, these loans can still be risky. In

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