Hard money loans and lenders

Did you ever take loan from hard money lenders? If not then you should hear about hard money loan and lenders. Hard money loan is a kind of loan which is finance by private money investors. They are calling as hard money lenders who are giving hard money loan. It is a kind of loan which can be getting within a short time and with minimal documents.

Hard money loan is a short term loan it is closing within 6 to 36 months. Hard money loan is a property based loan. This loan is calculated by 70% of the value of the property. Hard money lenders are giving loan based on the non owned occupied (NOO) property.

Hard money is a kind of loan where a person does not need to submit his credit information to hard money lenders to getting loan. Hard money lenders are not asking for credit information from the applicants for the hard money loan. There are many people who have no credit information to take loan from banks. It is a great way to get loan without credit information from hard money lenders.

One can also get hard money loan without any income information. Hard money lenders are not requiring income information for making a hard money loan. It is a great chance for those people who have no income information.

Hard money lenders have the ability of quick funding. They can give loan within a short time. They are taking only minimum 14 days to making a hard money loan. On the other hand banks are taking more time.

Although hard money loan is a property based loan, hard money lenders are also approving loan with those property which is in bad condition or which value is very poor. It is good news for those people whom property value is in poor condition.

The interest rate of hard money loan is very higher than bank loans. Hard money lenders are taking 8 to 15% interest for a hard money loan.

 There is no pre penalty option to get hard money loan. And for this reason a man can get hard money loan easily without any suffering.

Hard money lenders are mostly giving loan for real estate business. Hard money lenders are also giving loan for home, construction, small business. Hard money lenders also giving mortgage loan.

There are many options to find hard money lenders. You can find good hard money lenders by taking the help of mortgage brokers, real estate agents, real estate investors and many others. Internet is the best way to find good hard money lenders. You can visit www.lendinguniverse.com to getting hard money loan.