ASSET BASED LENDING SOLUTIONS FOR THE GREATER TREASURE ISLAND, FL AREA
There’s no place like Treasure Island. This town doesn’t take itself too seriously and you’ll find people from all walks and ages here who are all celebrating in paradise with their family members and friends by the beach side bars every day all year long!
The wide beaches mean there is plenty of room for everyone. Plus, if it feels like your feet could use a break from strolling along, then head over south towards Sunset Beach, which features quaint little shops alongside gorgeous scenery while enjoying delicious seafood dishes prepared fresh.
Hard Money Loan Solutions for Treasure Island, FL, is the company to call if you need fast and easy financing options. We offer various services that can help you get your project off the ground quickly.
What You Need to Know About Hard Money & Bridge Financing
When you are in the market for a loan, it is essential to understand the available types of loans. This includes bridge and hard money loans. Here is a look at the ins and outs of these two types of loans:
Hard Money Loans: Hard money loans are short-term loans. These loans are typically used when the borrower needs money fast or cannot get approved for traditional bank loans. Hard money loans can be used to purchase and renovate investment properties. There are different types of hard money loans such as bridge loans and commercial hard money loans.
Bridge Loans: A bridge loan is a type of short-term hard money loan that can cover expenses until a longer-term financing option becomes available. Bridge loans are typically used when there is a gap between the time an asset is sold and the proceeds from the sale are received. The bridge loan can provide interim financing until the new loan closes. For example, this type of financing option gives you access to funds while your construction project wraps up. It’s one way to ensure that costs don’t spiral out of control before they’re complete!
Both hard money and bridge loans can be helpful options when you need financing quickly. However, it is crucial to understand the terms and conditions of these loans before you apply. That’s why here at Hard Money Loan Solutions we work with you to explain the details of each loan type so that you can make an informed decision.
The Benefits of Hard Money Loans for Investment Properties
Investment property buyers have several financing options available, but not all of these options are created equal. Let’s look at why hard money loans are beneficial over other kinds of loans.
First and foremost, hard money loans are fast. The entire process can be completed in as little as one to two weeks! This is a significant advantage over traditional mortgages, which can take months to finalize.
Second, hard money loans are flexible. They can be used for various purposes, including the purchase of new investment properties, the refinancing of existing ones, or even the development of new projects.
Third, because hard money loans are based on collateral, you do not need a perfect credit score. We understand that your credit score does not necessarily affect your ability to repay your loan and so you can rest assured that is not going to be the only deciding factor as it is with traditional bank loans.
Get in Touch Today
If you’re an investor ready to take the next step with your real estate investments in Treasure Island, don’t hesitate! Contact Hard Money Loan Solutions today for a free consultation.
Note: All submitted information is kept in strict confidence and used solely for the purpose of obtaining a hard money loan and/or bridge loan. We do not share your information with any third parties without your consent.