High interest and hard money
Hard money loans are often a last resort, and usually short-term in nature. This type of loan is often used when the Denver property owner or investor is in a difficult financial situation, and the interest is usually very high. A hard money loan is usually taken to serve as a short-term interim solution, and is meant to be repaid when conventional financing can be arranged, or a sale negotiated.
Hard money lenders are private investors, and so the conventional lending requirements do not apply. Your FICO score and credit history is less relevant to hard money lenders, because the loan is secured against the property. You may not borrow the full value however. A hard money lender will usually offer about 60 to 70 percent of the value.
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will help you with your unique needs, including hard money lenders. Give us a call today at 720-284-4411 or email us at Sean@DenverRealEstateMoguls.com