Tips On How To Find The Right Hard Money Lender

I just read an article from the Trust Deed Capital Blog and in it they adequately cover the 4 key aspects one should keep in mind when thinking of getting a hard money loan.

There are [unfortunately] Lenders out there who just want to take advantage of you, resulting in your loss. So, being an individual home owner looking to refinance to consolidate debt or a renter who wants to buy a home for their family or even an investor looking to fix and resell property, hard money loans can be quite beneficial - IF done with a legitimate and expert Lender.

These four points are important to find out and review before choosing your hard money lender: (detailed in more detail in this link from Trust Deed Capital blog - http://www.trustdeedcapital.com/blog/4-tips-for-finding-the-right-hard-money-lenders-for-your-rei-team?utm_source=hs_email&utm_medium=email&utm_content=18512012&_hsenc=p2ANqtz--cVz4occ-YGIZLJQYyNZ6iJ_iyQLnxCQbMiskz1gj9nr9zRodV2Jkph6g8f-NLcWppFRGeh4P8-NRFYRbIW6Ro13jVpw&_hsmi=18512012

#1. Funds availability of that Lender - you don't want to be held up by slow funding or even too short a time period allowed by that Lender.

#2. Reasonable Terms and Finance Rates - compare them with other Lenders. Hard Money generally averages 10-12% interest only with no upfront fees.

#3. Good References from Other Clients - testimonials [or lack of] on a website or Yelp or Google+ can really tell you a lot about a particular Lender or company.

#4. Licensed, Bonded and Insured - there are numerous regulations and insurances that a hard money Lender is required to follow, all for your safety.

These all play key aspects in a successful hard money loan transaction and your happiness with the results. So locate a reputable Hard Money Lender who fits these 4 points!

Best, Ken

Hard Money Loan Originator of family owned company, Sun Pacific Mortgage & Real Estate, Hard Money Lenders serving all of California since 1988! www.Sunpacmortgage.com