Hawthorne Private Money Loans
Serving Hawthorne and surrounding neighborhoods Los Angeles, CA, RTI Bridge Loans is a premium Private Money Lender with substantial experience in offering these hard money loan types. Private money loans are short-term loans typically used to buy a new real estate property. With a fast application process and quick approvals, RTI finances these private money loans to help investors flawlessly finance commercial or residential properties in Hawthorne, CA.
Hawthorne is home to over 87,000 residents, boasting an annual population growth rate of 1.21%. In light of this, you can expect to see this southwestern LA city grow significantly over the next few years. The apparent outcome of increased population growth is increased demand for housing, so it is high time you make your move as a serious investor looking to diversify their real estate portfolios in the area. Contact RTI Bridge Loans today to set your next project’s wheels in motion!
Hawthorne Fix & Flip Loans
Highly prevalent in Hawthorne, Fix, and Flip Loans are a loan type that enables you to buy a property (often at a discount), rehabilitate it, and sell it as soonest as possible for a high profit. The loan is payable once an investor sells the renovated property.
RTI Bridge Loans has over three-decade experience in financing Fix and Flip projects in California, Nevada, and Colorado. Call us today at (562) 857-2285 and renovate a property in the soonest time possible.
So, What Exactly Are Hard Money Loans?
It is common for investors to ask what hard money loans. And it is not uncommon for people to wonder whether hard money loans are legit.
Hard money loans are an excellent option for you if you are experiencing difficulties with traditional bank loans and don’t want to wait for a long time it takes to get one or have an imperfect financial history. They are a speedy way to access financing for property investment without involving conventional mortgage lenders.
Hard money lenders or companies are unbothered with your financial health and lend based on the collateral value- the property in the picture. If you default on the loan, the lender recovers their money by selling the collateral.
Hard money loans attract higher interest rates compared to conventional bank loans because they are short-term. Still, they are available in different forms applicable to various projects and financing circumstances. These types include private money loans, fix and flip loans, bridge loans, commercial property loans, and more.
Unlike traditional bank and financial institution loans, you do not need to take endless steps to acquire a hard money loan. Contact RTI Bridge Loans today for more information on these loan types and discover the best option for your real estate project.
Top Advantages of Hard Money Loans
Following are the top reasons why investors prefer hard money loans over conventional bank loans.
They Are Fast:
You will need an excellent credit score and compelling loan purpose to qualify for a traditional bank loan. Still, you require the Biblical Job’s patience because it takes at least eight weeks to receive a bank loan. The case is different for hard money lenders. At RTI Bridge Loans, funding takes an average of 4 days (14 days maximum), enabling you to finance a new property in the soonest time possible.
They Are Flexible:
Traditional bank loans are rigid and have stringent guidelines- hard money loans don’t. Honestly, each Hard Money Lending company can set its regulations and rules, but typically, you only need a few steps and a shorter time to acquire the loan. Hard money lenders base their decision on the collateral, meaning that a perfect credit score should not bother you when working with these lenders.
Hard Money Lenders Help Finance Projects Often Rejected by Banks:
Banks are more likely to turn down several financing projects that a hard money lender would not, including fixing and flip loans. On top of that, banks typically do not cherish short-term loans, whereas hard money lending companies specialize in short-term loans.
If you have any concerns or questions about hard money loans in Hawthorne, CA, RTI Bridge Loans has got you covered with all the answers you need. Call us today at (562) 857-2285.