Sacramento, CA Private Money Loans
Serving Sacramento, CA, and surrounding areas, RTI Bridge Loans is a private money lender that specializes in providing people with these types of loans. So, what are private money loans? They are a type of hard money loan that is short-term as well, and they are usually used to purchase a new real estate property. Private money loans are very popular for real estate investors and property owners, and RTI Bridge Loans serves both in Sacramento, CA. With a population of roughly 508,500 people, expect to continue to see the real estate market in Sacramento grow and flourish. Now is the perfect time to invest! Contact RTI Bridge Loans today to get started with the private money loan process.
Fix And Flip Loans In Sacramento, CA
Fix and flip loans are very popular in the Sacramento area. They are a type of loan that enables property owners or real estate investors to buy a property, fix it up, and flip it for a high value. Once the property is sold, the loan is paid off in full. The short loan term gives the investor enough time to fix and flip a property in the Sacramento area and put it on the market. The profit of fix and flip projects are incredible with how expensive it is to purchase or rent a property in Sacramento!
What Exactly Are Hard Money Loans?
What are hard money loans? And are they legit? Let’s discuss the factors. If you are having trouble getting a loan with a traditional bank, or you don’t want to wait for the lengthy process, a hard money loan may be a great option for you! They are an excellent way to borrow without using traditional lenders. Your collateral property is what hard money lenders will base the loan amount on. There are quite a few different types of hard money loans, such as bridge loans, commercial property loans, private money loans, fix and flip loans, and more.
Hard money loans are short-term and have higher interest rates compared to traditional bank loans. Each hard money loan type usually has the same set of rules, but there are different reasons for using each one. In addition, as an added positive, you don’t have to jump through a ton of hoops to get one (like you would have to with traditional bank loans). Call RTI Bridge Loans today at (562) 857-2285 for more info about the different types of hard money loans and how they can benefit your situation.
Top Benefits Of Hard Money Loans
There are so many amazing benefits to utilizing a hard money loan and opting for a hard money lender. They are fast-funded, easy to get, and you don’t have to have a perfect credit score to get one. Let’s take a look at the top three reasons why people love hard money loans.
» They Are Extremely Flexible:
Traditional bank loans have so many rules and restrictions to them. They are not flexible at all, whereas hard money loans are. Every hard money lender does have their own list of rules, but there are far fewer hoops to jump through. Hard money lenders look at your collateral property and make their decision based on that.
» They Are Very Fast:
If you go with a traditional bank loan, we’re looking at a wait time of roughly 1-2 months (and that’s only if you meet all of the qualifications). You also need to have a very good reason for the loan and a perfect credit score. Here at RTI Bridge Loans, funding can take as little as 3-5 days (2 weeks max), and you’ll have hard money to finance your new property.
» Lenders Provide Financing For Reasons That Would Be Turned Down At Banks:
Bank lenders are likely to turn you down for things that hard money lenders wouldn’t. For example, fix and flip loans. A bank will more than likely not even consider this a possibility. In addition, banks don’t like short-term loans, whereas hard money lenders solely focus on short-term loans. All in all, hard money lenders will provide you with your financing needs that banks will naturally turn down.
Call RTI Bridge Loans today at (562) 857-2285 for any questions you might have regarding the limitations of hard money loans.