If you are in the market for a commercial Real-Estate loan In New York and Nationwide, you may find the process of getting a traditional loan frustrating and confusing. This is where a Hard Money loan From First Financial Depot, LLC comes into play and helps the investor obtain a quick and easy to get loan, to purchase, refinance, fix and flip commercial Real-Estate.
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Hard Money vs Private Money Lenders
Investors who work in the real estate industry frequently use the terms private money lender and hard money lender interchangeably. It’s true that there is some overlap between the two types of lending. First Financial Depot, LLC is very active in the Hard Money Lending Business.
What is LTV and Why it Matters Hard Money Lending
Loan-to Value Ratio (LTV): a comparison between the value of your loan amount and the estimated value of your property. To determine a loan’s loan-to-value, the lender will take your desire loan amount and divide it by the value of your commercial real estate . Hard money lenders sometimes require two opinions of value to ensure they’re making a good financial decision to fund the loan. Lenders can get their values from appraisals, broker’s price opinions (BPO) or tax appraisal value.
Commercial Hard Money Lender vs Traditional Lenders
How Commercial Hard Money Loans Differ From Traditional Loans. Commercial hard money lenders vs Traditional lenders offer a way for people to receive a loan that do not have strong credit scores or financials. Hard money loans are secured by real estate. Many people who are buying real estate use non traditional lenders to help […]