New Hard Money Lender Guides Uploaded!

Hello again fellow investor!

We’re pleased to announce that we’ve uploaded brand new and completely updated hard money lender guides to the website! You can find them at…

There’s one guide for each market area that we serve, and there are anywhere from six to thirteen lenders in each guide. You’ll find their lending requirements, rates, fees, and more.

We were shocked to find that up to 40% of the lenders in the old guides were no longer in business! But no worries, plenty of new lenders have sprung up to fill the void, and we included all of them.

In case you’re not familiar, hard money lenders provide the funding for you to quickly buy a property, usually a fixer-upper. They can typically fund your deal in days, not weeks, and their loans usually cover the costs of your purchase and repairs. But they are short-term loans, so you’ll need to either sell the property or refinance into a long-term loan within a few months.

Each lender has different lending criteria, so we included that criteria in the guides to make it simple and easy to compare lenders. Here’s the criteria from just one of the lenders…

• Loan term up to six months.
• No pre-payment penalty.
• A one time, three month extension can be requested if all repairs are complete.
• First lien position only.
• The annual percentage rate is 15-7/8%.
• Lending Up to 70% of the After Repaired Value of the property.
• Repair Funds can be financed, held in Escrow and dispersed on a Draw Basis if  LTV criteria is met.
• A 125.00 Inspection Fee will be charged for each Draw Request.
• Loan origination fee of 3-5% of the loan amount.

Don’t let a perceived lack of funding hold you back because it’s definitely available! Unlock your access to these funds by downloading the hard money lender guide for your market today.

These hard money lender guides are only available to Premium members, so upgrade now!


Posted on Oct 20, 2011

Author: Doug Smith

Founder of MyHouseDeals, Doug’s investing success allowed him to network with some of the greatest minds in business, and he’s been able to give back by sharing his investing knowledge to aspiring investors. To date, his investing tips and articles have been read by hundreds of thousands of investors. Although an active investor, Doug is most proud that he’s been able to transform people's lives by giving them life-changing advice and access to highly profitable investment opportunities through MyHouseDeals. And that this information has empowered them to make hundreds of thousands of dollars, quit their jobs, and most importantly, enjoy their lives with their friends and family. When he’s not investing in real estate, Doug enjoys traveling, softball, disc golf, and playing the guitar.

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