In the scheme of discussing the ins and outs of hard money loans, we must first discuss the different loan types. There are so many terms thrown around and it seems the definition often varies by investor groups and even geographic area. The first hard loan term we’ll discuss is the Bridge Loan. A bridge loan is a short-term hard money loan. Bridge loans are, essentially, investments to borrowers who need the funds for a time-sensitive opportunity. So when would it make sense to explore a bridge loan? Well, we’re guessing you’ve already realized that traditional bank loans often take months to get approved, and the requirements are often stymying and fraught with declined loans on money-making deals. That said, when you don’t have time to sit back and wait as the underwriting process is completed, that’s where a private hard money lender like Abbey Mortgage can come in to save the day! So if you have a deal you’re working on, maybe you’re in the fix-and-flip business, you might be asking yourself right now, where are you going to get all of the funds you need to fund your flip?
Our team at Abbey Mortgage can educate you further about if a bridge loan works for your situation. Don’t let that next deal slip by just because you didn’t explore all of your options. Giver us a call and see what our team can do for you.
Short Term Loans
A short-term loan doesn’t have to be rocket science but nonetheless, we see tons of instances when quick sales need fast funding or contractor or commercial loans are insanely hard to get be approved for. Here at Abbey Mortgage, we strive to put your lack of finances and financial worries to rest. You’ll need a customized, short-term loan plan that will meet your needs, giving you room to remain profitable.
We can help you when other institutions, such as banks and other traditional lenders make you jump through all those hoops, you know what we’re talking about, if they are saddling you with mountains of paperwork and red tape that never ends, and or they’re taking too long. We make the process quick and easy. Give us a call and you’ll see how we can get your deal funded much sooner than you originally thought was possible.
You can’t Discuss The Ins and Outs of Hard Money Loans Without Discussing Fix and Flip Loans
There’s never been a better time to be in the fix-and-flip business. As a result, private lenders like Abbey Mortgage have continued to increase in popularity. You can feel comfortable knowing that we have extensive experience in commercial real estate all across the Front Range. With Abbey Mortgage & Investments, you don’t have to worry about gimmicks and fees buried deep in the loan documentation. Our upfront costs allow you to achieve your maximum return.
Another one of our more popular money loans, construction loans, are ideal for builders. We lend up to 80 percent of the total budget based on the actual total cost to construct. Keep in mind that the term goes out for 10 months with optional extensions according to the terms of the loan’s documents. Even if you have a more elaborate project on your hands, a construction loan could make a lot of sense.
Abbey Mortgage Wants To Be You’re Private Mortgage Company
We hope you’ve learned a little about the ins and outs of hard money loans. We want you to know that you don’t have to settle for just any lender. Abbey Mortgage & Investments has been helping Colorado residents fund their deals for more than two decades. Our mission is to help you save time and make more money. Therefore, we are more than happy to answer any questions or respond to concerns that you may have along the way.
Our motto is, “There’s no money in a no, that’s why we say YES”!
Abbey Mortgage & Investments is ready to make your next deal your best investment. Schedule a no-cost deal review and consultation and let’s get you funded today.