NEW YORK, April 30, 2019 /PRNewswire/ -- The need for private investment capital in the fix & flip industry has caused a tremendous growth in the hard money lending industry in the past few years. There are now many professionally staffed lenders that lend over $1 billion each annually.
The hard money lending industry has grown significantly in the past decade. It is estimated that about 60,000 fix & flip rehabs were financed by professional hard money lenders in 2018.
Professional hard money and private investment lenders usually require a minimum of 10% down payment on funded projects. Borrowers with good credit often pass on purchasing an attractive real-estate investment because their capital is tied to other investments.
While most fix & flip rehabs are made by individuals that use their own capital, many individuals have expanded their rehab operations and need additional sources of capital. Many successful investors with good credit often run into a cash crunch because their capital is tied into other projects. Hard Money Sources' new lending program allows qualified borrowers to finance up to 100% of their real estate investment projects.
In addition to providing new sources of capital, hard money and private investment lenders are able to fund the loans quickly. In most situations, a hard money lender can fund a project within a week. This is compared to the 30 to 45 days it takes to get a bank loan funded. The application process for a hard money loan is also much shorter and usually takes a day or two.
About Hard Money Sources, LLC
Hard Money Sources connects borrowers and lenders in the private investment and hard money marketplace. Hard Money Sources, LLC lending partners offer a wide variety of lending products with loans ranging from 12 months to 30 years. Additional lending products include interest-only loans, real estate credit lines, loans for fix & flip, loans for fix & rent and rental portfolio acquisition.
For more information on Hard Money Sources' zero down payment lending program, please visit:
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