All Forum Posts by: Max Matrin

It will depend on how many mortgages you have. For multifamily units up to 4, banks go by personal credit and frown on giving mortgages if you already have four. On the other hand, 5 units or more are viewed as businesses, and personal credit is not as important.

Hard money loan calculator is a free tool provided by Kansas City Investor Funding LLC. Please replace the first six example values in the form below to calculate the Total Estimated Costs, the Estimated Loan to Value Ratio and the Estimated Cash Needed From the Borrower to Close as it might pertain to your deal. If the number is not applicable, enter 0.

A hard money loan only takes its cues from the value of hard assets like real estate. As folks in New York City are well aware, real estate is the most commanding asset in a rapidly shrinking and high-inflation market – consequently, hard money loans represent ideal opportunities for investors hoping for non-traditional financing options.While most hard money lenders in NYC demand burdensome financial information and reserve requirements to make any loans, Riverdale Funding has a simple one-step application process. There are no credit score requirements, no documents, and no income checks required.

A hard money loan is an asset-based loan with a high interest rate that usually serves as a short-term source of financing for borrowers who can’t qualify for a mortgage with a typical bank or mortgage lender. Many associate this type of loan with a bridge loan because it’s often a quick-fix loan that serves to fill a gap in financing. Hard money loans are a step below subprime offerings, and often the last possible way of securing financing.

Commercial loans are usually for a short-term,secured or unsecured, and are often advanced for financing equipment, machinery, or inventory. Banks usually require the commercial borrowers to submit monthly and annual financial statements, and to maintain insurance cover on the financed item.

VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.

1. Other Investors
2. Hard Money Lenders
3. Partners
4. Relatives & Friends
5. Collateral From Other Properties
6. The Property Equity
7. Seller Financing
8. Realtors
9. Buyers
10. Options & Leases
11. Renters
12. Existing Mortgages or Wrap Mortgages
13. First Time Home Buyer Programs
14. Rehab Contractors
15. Government Grants
16. Private or Special Project Grants
17. Local Government Down-Payment Assistance & Loan programs
18. 401K Borrowing
19. Credit Card Checks
20. Transactional Funding

VA loans offer specific advantages that conventional loans simply can't match. Of course, the main ingredient is not requiring a down payment, without a doubt the feature with the most impact.

For investors who are flipping, try to live off the bare minimum and hold every 2nd or 3rd flip. Use the profit from the first flip to live off of and the profit from the second flip for the down payment on a property to hold. And then do it again and again and so on.

Mountain America Credit Union is the best bank . It's a credit union perched just on the edge of crazy downtown proper, so if you're headed into SLC and need to grab some cash, it's easy to do on the way in.