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Experience hassle-free financing with Fourth St Capital. Our streamlined process ensures quick approvals and straightforward terms, allowing you to focus on your investments. Whether you’re purchasing, renovating, or refinancing, our expert team is here to provide personalized support every step of the way. Get started today!
Real Estate Financing from a Team of Experts
No Hidden Fees
We are upfront with all fees such as loan origination fees, appraisal fees, and closing costs.
Real Estate Experts
Work with the experts from MP Real Estate to ensure you are getting the best property for the best ROI.
Approval Based on Property Value
Loans are based primarily on the value of the property so borrowers with poor credit can still qualify.
FAQ
What is hard money financing?
Hard money financing is a type of loan secured by real property. It is typically used by real estate investors for short-term funding needs, such as purchasing and renovating properties. Unlike traditional bank loans, hard money loans are based on the value of the property being used as collateral rather than the borrower’s creditworthiness. This allows for quicker approval and funding processes.
What types of properties can be financed with hard money loans?
Hard money loans can be used for various types of properties, including residential, commercial, and mixed-use properties. This includes single-family homes, multi-family units, retail spaces, and more. Hard money financing is ideal for real estate investors, property flippers, and developers who need quick access to capital for purchasing, renovating, or refinancing properties.
What are the typical terms and interest rates for hard money loans?
Hard money loans generally have higher interest rates compared to traditional loans, often ranging from 8% to 15%. Loan terms are usually short, ranging from 6 months to 3 years.
How quickly can I get approved for a hard money loan?
Approval for hard money loans is typically much faster than traditional loans, often within a few days. Funding can be available within a week or less after approval. Documentation requirements are usually minimal but typically include property details, purchase agreement, renovation plans, and a basic financial overview of the borrower.
Can I get a hard money loan if I have poor credit?
Yes, since hard money loans are primarily based on the value of the property, borrowers with poor credit can still qualify. However, the terms and interest rates may be less favorable. If you default on a hard money loan, the lender has the right to foreclose on the property used as collateral. It is crucial to have a clear repayment plan and contingency strategies to avoid defaulting.