A hard money loan is a mortgage with a higher-than-market interest rate that usually serves as a source of short-term financing for borrowers who can't qualify.
HARD MONEY DEFINED AND THE LOAN PROCESS – SOURCE CAPITAL FUNDING, INC. – NMLS#237332 8. The lender is responsible for sending all loan documents to the escrow agent to arrange for the borrower to sign and for wiring the loan proceeds to the escrow agent for delivery to the borrower.
Zeus hard money created a proprietary loan process that is both efficient and diligent in order to quickly and comfortably assist homebuyers throughout the fast-paced loan process. The following is a step-by-step description of our underwriting and funding process.
The Loan Process An overview of the loan process Thank you for submitting your loan application with us. At DHLC Investments, Inc. we’re committed to providing you with the highest level of service and satisfaction. As part of our ongoing efforts, you’ll be receiving daily status reports from us showing the progress and current status.
A hard money loans is a loan of "last resort" or a short-term bridge loan. Hard money loans are backed by the value of the property, not by the credit worthiness of the borrower. Since the property itself is used as the only protection against default by the borrower, hard money loans have lower loan-to-value (LTV) ratios than traditional loans.
A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by real property. Hard money loans are typically issued by private investors or companies.
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A hard money loan is a short-term, high-interest rate loan. This type of loan is typically extended to businesses whose financial situations are.
Hard Money Loan Process 1. Apply. Our process is centered around you. 2. review Your Property. To move forward the process we need your property address to verify. 3. Review your Credit. We do not base our approval decision on your credit score. 4. Underwrite Mortgage Program. After you have.
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