Financial Services

Lenders and Investors

HOLLY LYNN The Queen of Capital, Holly Lynn specializes in helping people with their real estate needs. She is a creative and results-driven resource who can help investors at every level. Her authentic, personal relationships with both lenders and investors coupled with her vision, work ethic and endless desire to make the deal work position her as a sought-after, leader in the industry. Holly can help you with hard money, private financing and other funding for your investments and projects.

  • Finance
  • Private Financing
  • Hard Money Lending
What is Hard Money?

A hard money loan is a short-term loan secured by real estate property.

 

Why would I need a hard money loan or private money loan? 

Hard money loans are usually funded by private investors rather than traditional lending institutions. Hard money loans are predominantly used by property investors who need money to flip houses. However, it is not always the case. The financing is faster and the qualifications are based on your property value more so than your credit score and income.

The terms and conditions of these loans vary between lenders. These loans are higher in interest rates because the term of the loan is much shorter. Loans can range from six months to twelve months. Extensions can sometimes be given depending on the loaner.

What is the process to qualify?

The lender may or may not consider your credit score when lending you the money. They will, however, want an appraisal on your property. Also, the loan must be underwritten with title insurance. This insurance protects the lender from any financial loss due to problems with the title to a property.

A title company will facilitate all of the transactions such as taxes, paperwork, insurance, etc. The borrower pays for the title company fees. The time frame for the title insurance to go through is about two weeks but may vary depending on any issue the title agent may come across. 

After closing, you will receive your funds usually between 24-48 hours.