For real estate investors, commercial hard money loans are essential to stay in the competitive world of real estate. Cash is not always accessible for real estate investors purchasing new properties due to ongoing projects and other investments. By refinancing a currently owned commercial property, real estate investors can use the proceeds to purchase more properties, or pay off other debts to consolidate. These types of loans can make it easier for real estate investors to purchase other commercial real estate. The types of commercial properties to lend on are:
- Mixed use
Commercial hard money lenders will have different criteria when qualifying the borrower for the loan as they are not credit driven or concerned about the borrowers other debts. To account for the risk the lender is taking, the property involved is used as collateral with regard to the loan. The property is assessed when taking in to account how much the lender will loan to the borrower. The loan to value ratio in this type of loan, usually going as high as 80%, is the deciding factor for the lender. Hard money lending of this type is adjustable and exceptions can be made which is what makes commercial hard money lenders so useful.
Whether it is for the purchase of a commercial property pulling cash out of a property that is free and clear, commercial hard money lenders can be a great solution to getting money quickly and easily. Contact us today to find out how we can make real estate investing easier for you! Already have a specific property already in mind? Check out our loan application for a fast detailed response under our borrower tab by clicking here.