Avoid Common Errors When Subbing a Hard Money Loan

Most traditional mortgage brokers, whether residential or commercial, simply aren't aware of the most common mistakes in hard money loan submissions. When submitting a hard money loan versus a traditional bank loan, it is very different. From a popular Scotsman Guide article, some of the most commons mistakes made by traditional brokers in their hard money loan submissions include:

1. 1. Make sure the loan is a fit for hard money
2. 2. Give the reason for the need for a hard money loan
3. 3. Beware of submitting too much information upfront

Are you making some of the most common mistakes when submitting your hard money loans? Read the entire article on the Scotsman Guide at the link below, to make sure you are avoiding these mistakes in your loan submissions!

(Source: http://www.scotsmanguide.com/Commercial/Articles/2015/01/Steer-Clear-of-Hard-Money-Mistakes/ )

Posted by Corey Curwick Dutton, Hard Money Lender