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Q: What are hard money loans?
A: Hard money loans are loans secured by property.
Q: Who qualifies for a hard money loan?
A: If you have a significant amount of equity built up in your property you may qualify.
Q: How much money can I qualify for?
A: Hard money loans typically begin at $50,000 but depending on your equity and property value you can usually borrow more.
Q: What if I have poor credit?
A: Selzer Home Loans are solely based on the worth of the property your credit score is not typically a factor.
Q: Who usually gets hard money loans?
A: All different types of people get hard money loans including: many investors, people tired of conventional lending, people who may not qualify for conventional lending, and many more.
Q: What are some other names for hard money loans?
A: Private Money Loans. Bridge Loans. Asset Based Loan. They are also classified under: Real Estate Loans. Residential loans. Commercial Loans. Mobile Home Loans and Manufacured Home Loans. Bad Credit Loans Bare Land loansDebt Consolidatin loans Home Improvement Loans and Construction Loans.
Q: What can hard money loans be used for?
A: There are many uses. Many investors who have situations that are too risky for banks. Sometimes people are having a tuff financial time and need some financing to get there affiars in order such as bankruptcy or foreclosure. The list keeps growing.
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