What is a Rehab Loan? Understanding 203k Rehab Loans & Conventional Rehab Loans

If you’re thinking about renovating your home, doing major home repairs, or purchasing a new house that requires extensive work, a rehab loan can provide you with the financing you need. A home repair or renovation can cost thousands or even tens of thousands of dollars. Understanding your financing options is crucial to managing your budget and planning a project you can afford. Learn more about what a rehab loan is and how common rehab loan options work so you can prepare for your project.

Continue reading “What is a Rehab Loan? Understanding 203k Rehab Loans & Conventional Rehab Loans”

How to Find Hard Money Lenders

Hard money loans are a great solution for investors who need money fast or those who can’t get a more traditional real estate loan. This type of lending provides terms funds that are ideal for investment properties. A hard money loan is typically used short-term. If you’re interested in getting quick access to essential funding for a new real estate project, it’s helpful to know where you can go for a hard money loan. Find out how to locate the best lenders in this category. 

Continue reading “How to Find Hard Money Lenders”

What Is Asset-Based Lending?

Asset-based lending, also called asset-based financing, is a type of financing that’s secured by collateral. Many businesses use loans from asset-based lending companies that are designed to work as revolving lines of credit. This lets organizations cover expenses or investments as needed by borrowing from their assets on an ongoing basis.

Continue reading “What Is Asset-Based Lending?”

What is the Interest Rate on a Hard Money Loan?

Generally considered a higher risk type of loan, a hard money loan can be used to purchase or refinance a property for both individuals and corporations. With considerable differences from a traditional style loan, a hard money loan is an excellent option for those looking to sell and recoup their investment money fast.

Continue reading “What is the Interest Rate on a Hard Money Loan?”

What is LTV in Real Estate? Understanding Loan to Value Ratio

FHA, APR, DTI, PMI, FICO, and LTV are just a few of the acronyms you’ll see in the mortgage and banking world, but what do they mean? Whether you are a borrower or a lender, you should know what all these stand for, and more importantly, how they impact your loan. 

Continue reading “What is LTV in Real Estate? Understanding Loan to Value Ratio”