ASSET BASED LENDING SOLUTIONS FOR THE GREATER WINDERMERE, FL AREA
Windermere is located in Orange County, Florida, and North Orlando. This quaint city is situated on the lakefront of West Lake Tohopekaliga. A big perk for this city is its close proximity to Winter Garden, Ocoee, and Winter Park.
Residents of Windermere are no stranger to bridge financing or hard money loans; it seems that most people here go through some type of temporary loan structure at one point or another.
Although there are many traditional lenders with offices in the area, you would be surprised how many people there are turning to private lending companies like Hard Money Solutions for fast cash advances.
What happens when your funds have dried up? Perhaps you have maxed out all your credit cards, your savings account is empty, and you don’t qualify for any other conventional loans?
That’s no sweat off your back because there are still some great financing options available to people, even with poor credit. At Hard Money Loan Solutions, we understand that unplanned expenses can happen to anyone at any time.
Although hard money loans are considered high risk for the lender, you will find that they can be an excellent alternative to bank financing. This is why our company has become one of the most trusted names in the industry by helping thousands of borrowers to get their solutions funded as soon as possible!
What are Hard Money Loans?
A hard money loan is a form of financing that provides quick access to funds using the borrower’s real estate investment as collateral. These types of loans are designed for investments that need fast capital but don’t require typical permanent mortgage terms.
What are Bridge Loans?
Bridge financing is considered tough because you may lose your investment if you cannot sell your property within the short time frame allowed by this type of loan. Real estate developers often use bridge financing to pay off one loan with another or when a project is so expensive that you need to finance it over several years.
A bridge loan enables the borrower to access money from an existing asset within a few days without having to worry about traditional underwriting and documentation procedures. The bridge loan acts as a buffer between two different loans: one for the borrower’s current property and the other for their next purchase.
A bridge loan can be structured in various ways but typically has some sort of payment period where what was borrowed will be paid back on specific dates, whether that be monthly, biweekly, etc. As long as there is reasonable progress on building equity during the life of the bridge loan, the borrower can refinance into a more traditional mortgage.
For landlords, bridge financing may be preferable over conventional financing and other forms of financing (hard money loans) because it has lower interest rates and less costly monthly payments. In addition, bridge loans often require no credit check or assets; for real estate investors with good credit and income, this might make hard money lenders seem redundant.
If you’re looking to learn more about bridge financing or hard money loans available specifically for you in Windermere, FL, Hard Money Solutions can provide all the details on these types of loans, as well as any other type of real estate financing program available today. Contact us today!
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.