Hard money lenders determine ARV by analyzing comparable sales (comps), market trends, and the scope of planned renovations. They may also utilize help from a Realtor to help with a broker price opinion to validate ...

When presenting a deal to a hard money lender, focus on an overview of the project with a concise summary of the property, including its location, type, and current condition. Highlight the loan amount needed, ...

Most hard money lenders don't report to the credit bureaus but they do pull credit. They do not focus as heavly on a credit score like a bank would as its not the primary factor ...

When looking for a hard money lender in New Jersey, compare their reputation, location, and loan terms. It makes sence to work with a local or regional company that knows your market. Referrals from other ...

Most hard money lenders that use private capital don't require a standard appraisal. However, they may use a broker price opinion (BPO), an internal valuation, or a comparative market analysis instead of a full formal ...

One of the greatest things about a hard money loan is the speed at which you can get one. Approvals typically happen within 24 hours, and settlements can occur in less than a week. Many ...

Hard money lenders use real estate as collateral. They will want to be a 1st lien position or 1st mortgage on the house or commercial building. Most lenders only lend on investment real estate instead ...

A good interest rate for a hard money loan in New Jersey typically falls between 10% and 16%, though rates can vary based on the lender, loan-to-value (LTV) ratio, borrower experience and credit score. Points ...

Hard money lenders do require a down payment on a purchase, typically ranging from 10% to 30% of the property’s purchase price. The exact amount depends on factors like the lender’s risk tolerance, credit score, ...

Depending on your situation a Hard money lender can be worth using, but they come with pros and cons. They offer fast, asset-based loans with flexible terms, making them ideal for real estate investors, house ...