Real Estate Financing: How Does Hard Money Banker Stack Up?
In order to be a next successful real estate investor, it takes a decent amount of money. Hard Money Bankers (https://hardmoneybankers.com/) has been a company that has helped many get the money they need for the last decade. Is it one of the best options out there today? When going off of the reviews, it certainly seems like they have carved out a nice niche in the market.
How Do Their Programs Work?
Hard Money Bankers is a lending company that provides extremely fast financing for real estate transactions. Whether a person is looking to purchase residential or commercial real estate, they can depend on the company to try to get the best setup financially possible.
After sending in the initial loan application, a number of documents also need to be provided. After all of that is submitted, a specialist will help determine just how much money is granted to the customer. From there,specific repayment plans are set up depending on each unique situation. On average, most people will be looking at interest rates in the 10% to 15% range.
How much money can be utilized?
Within reason, any loan amount is possible with Hard Money bankers. The company works with single family residences, small business owners and even shopping center developers. Some might be looking at only needing a little over $100,000, while others need over $1 million.
By looking at specific documents and gathering information, the company does a great job of setting up an appropriate loan for each customer. Getting just the right amount can be very beneficial when keeping customers on track during the repayment process. Taking out too much money at one time can actually be a bad thing if a person does not know how to manage their finances all that well. With extra money to spend, more frivolous items can be purchased for the home.
What states are served by Hard Money Bankers?
Currently, Hard Money Bankers is only available in Maryland, Virginia, Pennsylvania, Delaware, New Jersey and Washington DC. The company employs a specialist in each area, so a person can work directly with an expert. They will know all the specific rules and regulations that might be in that area.
What are other saying about Hard Money Bankers?
People who have used Hard Money Bankers really seem to like their experience with the company. They have one of the fastest funding times out there, usually taking only one or two business days for the money. They also seem to be very happy with the ease of qualifying. A person's credit score is not considered nearly as important to Hard Money Bankers compared to some of the other options online.
Finally, customer service is something that gets high reviews from clients. They are available during normal business hours, and do a good job with constant updates during the initial loan process. It is common for people to have questions when taking out a lot of money for real estate, and the company puts a lot of effort into putting everyone at ease.