Have you tried obtaining a loan from a bank or any other financial institutions? If yes, then you understand the frustrations associated with the procedures. However, an alternative and better way to obtain loans may be through hard money lenders. All you need is a collateral that can cover the cost of the loan. In essence, hard money lenders are generally private firms and investors who use the collateral as an insurance and grant the loan depending on the credit score. Higher credit score guarantees you a loan at better interest rates, and moreover, the process if fast.

LBC capital is an epitome of the hard money lenders. The organization grants four types of loans depending on the desired use. As such, you may obtain a hard money loan either for construction, land, commercial or fix and flip purposes. Nevertheless, the organization is equipped with the necessary manpower to cater for all the growing needs of the community and therefore, it does not matter if you are a developer, borrower or even an investor. As a matter of fact, it is the fastest growing hard money lending organization in California.

To begin with, the organization may offer you loans for commercial development. In turn, this will be very useful if you are a developer and in need of fast cash. The loan will be offered on the specific commercial development plan which may entail apartments, offices for business, malls, retail shops, hotels, and manufacturing premises among others. If such a loan is to be obtained from the bank, some of the restrictions will be based on the credit history, the debt to income ratio and repayment plan. On the other hand, the hard money lender can grant you the loan as early as 15 days from the application but credit scores of above 600 give you better negotiation terms.

Secondly, the hard money loan may be used for the purchase of land. With the collateral in place, the loan can be processed in as less as 15 days and in other instances, it may be pre-processed so that you may obtain the loan on the same day as application. This means that you can get to work right away.

Thirdly, the loan may be granted for construction purposes. Hard money lenders may offer loans for the refurbishment of existing buildings and even the construction of new homes. In turn, it provides a platform from where you may accrue profits, especially in the real estate sector. However, the hard money lender will tend to provide better and suitable terms when your credit score is above 620.

Finally, fix and flip hard money loans may be provided when you are in need of financial support to fix and resell properties. However, the organization considers the following factors prior to approval: credit scores in which case should be at a minimum of 550, a debt to income ratio that ranges between 35% and 45%, previous projects experience and presence of a contractor. Regardless, the interest rates may be between 7% and 12%.


Keywords: hard money lenders,hard money loans


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