If you’re wondering how to get a hard money loan, you should be heartened by the fact that it might not be as difficult as you think to qualify.
Hard money loans are excellent for two main reasons.
The first reason is their speed. While it can take over a month to organize financing via banks or credit unions, seeking the help of a hard money lender can provide you with your requested loan amount within three days. On some occasions, Lantzman Lending has even been able to approve an application and provide the money requested the very same day!
The second major benefit of quick hard money loans over seeking to finance via other means is tied to the first. Those other means – namely banks and credit unions – refuse many potential borrowers because they have poor credit histories, are in financial difficulties, such as bankruptcies. They consider some loans too risky and so are unwilling to enter into an agreement.
This is where a fast hard money loan can help. Hard money lenders do want to know about the borrower and where the money will be used, but the loan is secured on real estate. These loans are funded by private investors or funds of investors and the criteria that needs to be fulfilled to receive a fast hard money loan is relatively simple.
Many people looking for hard money rehab loans, in California and elsewhere, or simply investigating how to get a hard money loan are investors who wish to buy and sell a property fast. A property developer is a great example of someone who may spot an opportunity and need to act quickly. There are likely to be competing bids for the same property, and he or she needs the funds to move forward. Renovating a property for resale can be a quick business, taking anything from a few weeks to a few months. In such circumstances, money may be required to acquire the property and complete the work, but it’s not needed for long.
If you’re looking for money to turn around a property quickly, a fast hard money loan could be ideal. Anyone seeking hard money rehab loans in California should check out Lantzman Lending. Our terms for quick hard money loans are flexible, the application process is quick, and we can deliver the money by wire within days of your request, not weeks or months.
Many property developers and other investors are switching on to alternative forms of financing. Increasingly, they are wondering how to get quick hard money loans. The answer is that making applications for quick hard money loans is simple. Most of the work is done by the lender, and that’s how it should be.
If you’d like to know more about how to get a hard money loan, read on and you’ll see more details about the application process. You’ll also see that with Lantzman Lending, this is hard money made easy.
How to get a hard money loan with a simple and fast hard money loan application
To get a quick hard money loan, you need to provide a few details to get a quote. At Lantzman Lending, you can give us a call on 858 720 0229, email us, or fill in our online application form. By providing some basic information, you’ll be well on your way to receiving your quick hard money loan in next to no time.
We’ll review your information and aim to send you a quote within 24 hours. We’re completely transparent about our loan terms and interest rates, as you will see from the website.
Once you’ve agreed to the competitive rates of our deal, we’ll work out the paperwork and provide you with everything that you’ll need to sign for us to wire the money.
What do you need to provide to receive quick hard money loans?
* Contact details
We’ll need your contact details so that we can contact you! Our online form asks for your first and last name, phone number, and email address. Yes, we will also check out your credit history, but don’t worry. Just because you may have past credit issues, including short sales, bankruptcies, or foreclosures, this does not mean that you are ineligible for a hard money loan.
When more conventional loans are closed to you, a hard money lender can still help.
* Subject Property Address
Since the loan is secured on real estate, we need to know the subject property address. We’ll ask you to tell us the property type (Residential, Land, Commercial, or Other), and the amount of money you would like. A few other details relevant to your loan and your property are also required, namely the loan request position, the subject property value, loan(s) to remain on the property (if applicable), and loan(s) to be paid off.
Oh, and please also tell us how you found out about our services!
Can I provide anything other than my hard money loan application to improve my chances of success?
If you’ve seen our online hard money loan application form, you can see why we say that this is hard money made easy. It’s not over yet, however. To make the process of receiving your hard money loan as fast and efficient as possible, you can follow these simple steps.
* Find the Right Property
If you’re looking to purchase a property to renovate and resell, it’s important to know the precise value of the property and how much you will be able to add to that value. This will be as important to your money lender as it is to you, so doing as much preparation regarding this will help all parties involved.
If you want a loan to cash out residential or commercial, it will be beneficial to be able to compile documents that verify the current value of the property, such as an Appraisal, a Broker Price Opinion, and a Realtor Comps.
* Know Your Figures
Again, this is something that will help your money lender make a speedy assessment, but that also benefits you. You should be able to produce a summary of your project. It doesn’t need to be long. The important thing to demonstrate is that you have a plan, a purpose and an exit strategy that includes whether you plan to obtain long-term financing or sell.
* Be Prepared to Provide More Information
With Lantzman Lending, the hard money loan application procedure is short and straightforward. Don’t be complacent, however. Take the time to fill in the details correctly.
Any hard money lender will check your credit rating. They’ll want to assess your ability to repay a loan. Past credit issues, such as bankruptcies or foreclosures, will not prevent you receiving a hard money loan, but your money lender will take them into account. If you can provide explanations, this can help move your hard money loan application along.
If you have interior and exterior pictures of your subject property, these too can be helpful for the money lender. In addition to any other documents you provide, it will help them to accurately assess the current value of the property, which in turn forms the basis of how much money you can be loaned. The more detailed your pictures, the better.
As in investor, it’s likely that you have this information already. To help your application, make sure that it is accessible and either send it to your money lender or be prepared to do so.
An estimation of work to be carried out on the subject property will prove useful. Not only does it show that you have a plan, but it can also go in your favor if the money lender’s assessments match your estimates.
* Highlight your strengths
If you think that your case has weaknesses, take the opportunity to make the most of your strengths. While receiving a fast hard money loan from a lender is a streamlined process, they do consider many aspects of the project for which the loan is required.
For example, if you have capital that you intend to use as a down payment on a property, this translates as less risk for money lender and confirms your commitment to the project, both of which go in your favor. You may not only receive approval where you’ve been unsuccessful with other lenders, but you might receive better rates than you would otherwise have received.
Another example of promoting your strengths, would be making sure that you let your money lender know if you have a strong track record of past successes. Your project may seem risky to a more conventional lender, but when you try a hard money lender you are likely to find that being able to demonstrate a series of successful projects gives you added credibility when the money lender reviews your hard money loan application.
Finally, you can get the best experience from a hard money lender by ensuring that you treat them the way that you would like to be treated! Be professional, provide any requested information promptly and to the best of your ability, and always do what you say you will do. If you can follow these guidelines, you will help to set the tone for your relationship with your hard money lender.
Hard Money Made Easy
We know that conventional financing is not appropriate for every business venture. When you, as an investor, require money fast to make the most of a business opportunity, you need as few obstacles in your path as possible.
For those who are looking for a rehab loan, also known as a renovation loan, you’ll have enough to consider with the planned work ahead. A loan should provide borrowers with the freedom to pursue their goals, rather than inhibit the viability of their projects with time-consuming procedures and complex bureaucracy. Hard money made easy means facilitating the process of allowing you to get on with doing business. Whether you are seeking cash for a residential real estate investment or commercial property, we provide hard money rehab loans throughout California, helping investors and businesses to realize their goals and ambitions.
Those seeking hard money rehab loans in California should get in touch with us to see what we can do for you. With our hard money made easy policy, we do our best to provide quick hard money loans as efficiently as possible.
When you receive a fast hard money loan from Lantzman Lending, it’s important to know that you are more than an account number in a spreadsheet. We are motivated by your success. We aim to help you towards a successful outcome, which is to the benefit of everyone concerned.
Lantzman Lending has more than 50 years of combined experience and are money lending experts based in San Diego. We provide hard money rehab loans throughout California, as well construction loans, refinances, and commercial loans. Our hard money loan terms might be more flexible than you would expect, because we treat each customer on a case by case basis. We’re here to help you help yourself, and this happens when we pay attention to your individual circumstances. Off-the-shelf products do not provide the flexibility required to satisfy the needs of a wide array of investors. We work hard to ensure that you will receive a prompt and personalized quote, tailored to your specific needs.
For advice, further information or to go ahead and request a quote, drop into our office at 11696 Sorrento Valley Road, call us on 858-720-0229, send us an email, or use our online form. The sooner yo get in touch, the sooner we can breathe life into your dreams. Remember that this is hard money made easy. Our loans can provide the fastest, most comprehensive way of pursuing your goals. We look forward to helping you on your path to success.