Direct Hard Money Lendres For Concord Real Estate

Hard Money Lenders are private companies and individuals who lend out capital to fund real estate deals. The loans are called "Hard Money Loans" or "Private Money Loans" is a significant source of financing for real estate investors who need short-term access to funds.

Hard Money Loans

Getting Hard Money in California:

Hard money lending in California is just as popular as it is in most other areas, particularly with property buyers. You might wonder why credit seekers decide on direct hard money lenders over traditional loan associations. You may often hear or read that private funders demand extra or that they are known to be a last option for funding.

The truth is that Concord hard money lenders offer many services that the banks and traditional lenders simply cannot or will not. They approve loans quickly. They understand the needs of the investor, since most of them have invested in real estate. Some of them are even considered specialists, a good choice for the rehabber or reseller. The fees that they charge are reasonable, for the most part, but to get the best deal, you should shop around.

Advantages of getting Concord Hard Money:

Unlike other lenders, we will not leave you wondering for weeks if your request will be approved; we let you know within days (most likely hours) if we are interested in working with you. And since we are a direct lender and underwrite our own loans, your loan will close fast and without the hassle and headache we hear about so often from other lenders.

If you are an active real estate investor/borrower and have multiple commercial or residential properties with equity in California, I would love to hear from you.  Just fill out my simple prequalification form and we’ll get back to you within one business day. We value your business and I look forward to funding your transaction!

You will find that Concord hard money lenders are competitive. They want your business to flourish, so they advertise. One of the best ways to choose a provider is to simply evaluate their website. Look for the ones that detail their approval process, repayment plans and additional services. The more up-front they are about what they have to offer, the more likely it is that you have found a reliable legitimate source of funds.

5 Real Estate Predictions for 2015

According to Freddie Mac’s US Economics and Housing Market Outlook for the month of

Real estate Predictions

November, home purchase market will strengthen along with economy in 2015. Freddie Mac's chief economist says “The good news for 2015 is that the U.S. economy appears well-poised to sustain about a 3 percent growth rate in 2015 — only the second year in the past decade with growth at that pace or better”. Governmental fiscal drag has turned into fiscal stimulus; lower energy costs support consumer spending and business investment; further easing of credit conditions for business and real estate lending support commerce and development; and consumers are more upbeat and businesses are more confident, all of which portend faster economic growth in 2015. And with that, the economy will produce more and better-paying jobs, providing the financial wherewithal to support household formations and housing activity.

Freddie Mac economists have made the following projections in housing for the New Year:

Mortgage rates

 Interest rates are predicted be on the rise next year. In recent weeks, the 30-year fixed-rate mortgage has dropped below 4 percent. But by next year, Freddie projects mortgage rates to average 4.6 percent and inch up to 5 percent by the end of the year 2014.

Home prices

By the time 2014 ends, home appreciation will likely have slowed to 4.5 percent this year from 9.3 percent by last year. Appreciation is expected to drop further to an average of 3 percent in 2015. "Continued house-price appreciation and rising mortgage rates will dampen affordability for home buyers," according to Freddie economists. "Historically speaking, that is moving from 'very high' levels of affordability to simply 'high' levels of affordability."

Multi-family mortgage originations

Mortgage originating from the multi-family sector have surged about to 60 percent between 2011 and 2014. This Increase is expected to continue in year 2015, and projected to rise about 14 percent.

Housing starts

Home building is expected to increase in 2015; it is projected to rise by 20 percent from this year. That will help total home sales to climb up to 5 percent, reaching the best sales pace in eight years.

Single-family originations

Mortgage originations of single-family homes will drop by an additional 8 percent, which can be attributed to a steep drop in refinancing volume. Refinancing is expected to make up 23 percent of originations in 2015; they had been making up more than half in recent years.

For more information Contact

What Will Hard Money Loans Cost You

Los Angeles hard money lenders

If you are new to private money financing or most commonly hard money loans, this article will clarify what private funded equity based lenders is all about. The term has been changed a little bit. Today Los Angeles Hard Money Lenders don’t need to be expensive if there is a right combination of factors.

What hard money (equity base lending) means? And what is hard money loans meant for? Following are some answers to the question.

1. For borrowers hard money loans are intended for more down payments (equity) in the property than traditional lenders and banks acquire.

2. Hard money loans are intended for short term as a substitute for long term bank loans.

3. LosAngeles Hard Money Loans don’t require recent history of credit, limited credit, late payments, judgments and foreclosure.

4. They are popular among foreign national (non US citizenship).

5. Borrowers who are in need of financing during a probate proceedings.

6. Because of lack of employment duration, career shifts, and employment gaps which normally banks don’t allow.

7. You are in need for construction or renovation funds for property investment because banks don’t offer construction loans now days.

8. You have owned 4 to 10 concurrent properties.

Interest Rates

Interest rates vary from 7 to 12% depending on variety of factors like low LTV (loan to value ratio), which is primary determination factor. If you are borrowing only 20% of the property, you will pay less for loan as compared to someone who is borrowing 70% value of property.

Credit

There are private lenders that still making loans today without caring about credit scores or previous credit history while making a loan. The new generation hard money lenders offers pricing discounts for borrowers with a better credit scores and elapsed time from prior derogatory events such as bankruptcy, foreclosure, short sale etc. Judgments, unpaid taxes, and delinquent court ordered payments must be paid with new loan or prepaid in cash before funding.

Points and fees

Fee to the lenders and broker arranging the loans are involved in lending hard money loans. Points charged for hard money varies but there is no such thing as “no point’s hard money loans”. Other fees payable are to title escrow recorder, title insurer, and third parties which vary by vendors.

Loan to Value

You will have to pay 25 to 50% down payment plus points and lenders fees if you are purchasing property. This amount will also vary depending on the lenders and other factors like property type, location, prior credit history, accompany etc. Hard money loans are predicted on protective equity in the property at closing, therefore there are no low down payments hard money loans.

For more information Contact