What Makes a Good Private/Hard Money Lender

[LaMancha Sims]

When you are picking which lender to finance your project... 

What makes the difference in a  Good lender and a Bad one? What are you looking for to help you grow your business? 

[Jack Tulloch]

Communication, timeliness, and certainty of execution. 

Communication is important in all aspects of life, especially within the mortgage lending world. You need to be aware of where the file is at in the process, what conditions still need to be met, and what to expect moving forward.

Timeliness is also key. Getting your questions answered quickly, deadlines being met, and around the clock support can be the difference between PSA extensions not being needed or refinances getting done before a hard money loan maturing. 

Certainty of execution, arguably the most important, is what makes a lender stand out from the rest. Being able to rely on a lender to execute on a deal is what keeps brokers/borrowers coming back to them.