Hard Money Loans

Real estate investing is one of the most popular forms of investing across the country. There are excellent potential returns and it is considered to be a safer investment than investing in the stock market. The real estate market continues to see improvement and there is a great opportunity for real estate investors to not only pursue their personal real estate goals but to also breathe new life into communities.

When most investors are looking to purchase a property, they realize they will need some type of outside financing to complete the purchase, not all investors have the ability to pay cash for their properties so they have to get creative. One of the ways that investors get financing for their deals is through a hard money loan. Hard money loans differ from traditional bank loans because they have the ability to provide faster closing times and offer greater leverage. The ability to close quickly is very important for a real estate investor that is competing against other investors for a property and being able to close in 10 days instead of 30 gives them an advantage over their competition. Being able to utilize greater leverage means a lower out of pocket down payment and allows the investor to pursue more deals. It also offers the potential for higher profits and a greater return on investment.

Once an investor has found a property what should they look for in a hard money lender? A few factors to consider with hard money lenders are the rates and terms of their loans, the amount of the down payment, and if there are any hidden costs or junk fees. Often time’s lenders will ask for property details and information about the investor to give them their own personal rate, which can be misleading and isn’t always the actual best rate. It is also important to consider the down payment and what the lender is willing to lend on. Are they lending on the purchase price and the rehab of the property or will they only on the purchase price? Finally are there any hidden costs or junk fees that the lender is going to charge you? These unnecessary costs and fees could range from application fees, doc prep fees, and even convenience fees. Real estate investors will need to look for a hard money lender that is transparent with their loan programs and has the infrastructure in place to help them be successful.

At Lima One Capital we look forward to working with real estate investors across the country and providing them with the best hard money lending programs in the industry. We have a real passion for real estate and the positive impact that the work our clients do has on their respected cities and communities.

Lima One Capital, LLC. NMLS ID # 1324403, 201 E. McBee Ave. Suite 300. Greenville, SC 29601. Lima One Capital, LLC is not currently licensed in AK, ID, ME, MT, ND, NV, SD, UT or VT. Lima One Capital, LLC is licensed or exempt from licensing in all other states. Minnesota: This is not an offer to enter into an agreement. Any such offer may only be made in accordance with the requirements of Minn. Stat. §47.206(3). Lima One Capital, LLC is licensed in Arizona as a Mortgage Broker (License No. MB-0936439) and Mortgage Banker (License No. 949706). Lima One Capital, LLC is licensed as a California Finance Lender under Department of Business Oversight (License No. 60DBO-45834). Lima One Capital, LLC is licensed in Florida as a Mortgage Lender (License No. MLD1555) and Mortgage Servicer (License No. MLD1662). Lima One Capital, LLC is licensed in Oregon as a Mortgage Lender (License No. ML-5397). Annual percentage rate may be increased after fixed-rate period expires. Loans are subject to additional underwriting criteria.