Why Get a Hard Money Loan From Us?
When people want loans, their first option is to look at offers from banks and credit unions. At Abbey Mortgage & Investments, we encourage you to consider Denver hard money lenders instead. Here’s a look at some of the reasons why getting a hard money loan from us can be beneficial:
What is a Hard Money Loan?
A lender offers a hard money loan to a private party, which can be an individual or an organization. This type of loan is useful in a time-sensitive season when you need hard cash but can’t go through the complex bank loan application process. Hard money loans are also referred to as private money or hard money loans, asset-based loans, bridge loans, transitional loans, rescue loans, or short-term loans.
Why Apply for a Private Loan from Denver Hard Money Lenders?
Bank loans aren’t always the option for borrowers. Banks and credit unions look into your financial history, credit score, current financial health, etc., to decide whether you’re worth the risk of granting a loan. It can take anywhere between 90 days to around six months to get approval.
Bridge loans are faster and less complicated. Denver hard money lenders are only concerned with the equity of your collateral property and can approve a loan within 5 to 10 days. That can be very useful if you don’t have a healthy credit score and need money quickly.
Hard Money Loan for Real Estate Developers
Established and successful real estate developers often prefer hard money loans over traditional bank offerings because bridge loans are faster and more readily available. If you have a short-term window for a great investment opportunity, you don’t want to lose it by waiting for a bank loan to get through.
You can also check some of our other articles out.
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If you want advice or more information from experienced Denver hard money lenders, don’t hesitate to reach out to us at Abbey Mortgage & Investments for a customized plan.
