Getting a commercial hard money loan is easier than ever. No longer is there just one means of financing with a conventional lender. There are a variety of loan programs you can get depending on your financing needs:
- Short-Term Financing – These loans are faster to close sometimes in just 10 days with shorter terms as low as 6 months and rates starting at 8%
- Long-Term Financing – These loans have terms that can be 3 years and higher with a lower interest rate starting at 3.75%
During the real estate boom, it was far easier for developers to obtain commercial hard money loans. After the real estate market crash, banks started to enforce more regulations and restricted trade areas for lending. Traditional banks require financial statements, tax returns, and any other requested documents. The benefit of obtaining a hard money loan is that they can forgo all of this complicated, tedious paperwork. Instead of looking at the borrower’s personal credit history and income, hard money lenders look at the commercial property itself. If you are looking at purchasing a commercial property or are interested in pulling cash out of a current property, a hard money loan is just what you need. Contact us today to find out how we can make real estate investing easier for you! At Hanson Capital Group, we’re more than just a lender. Are you interested in investing in Real Estate, but aren’t sure if you’re ready to do it alone? From our trusted network of business associates to our abundance of experience in the investment industry, we can help you turn a run-of-the-mill deal into an investment steal.
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.