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 ...

Hard money lenders in Virginia typically charge an annualized interest rate and points (fee paid as a percentage of the loan amount). Expect to see interest rates for a hard money loan between 10% and ...

Yes, most hard loans are structured up to a 12 month term but usually don't have a prepayment penalty so you can pay the loan off at anytime. Look for this language written into your ...

Yes, most hard money lenders prefer a higher credit score BUT they don't have a minimum credit score requirement. However, if the credit score is lower the lender might require a higher downpayment, additional collateral ...

Most hard money loans require monthly payments, while others may have interest-only payments or even balloon payments at the end of the loan term. Here are some common payment structures: Interest-Only Payments: Common for short-term ...

Yes but keep in mind Hard money lenders (that lend their own funds) have no minimum credit score because they focus more on property value and overall real estate projects. Although lower scores may still ...

One of the greatest things about a hard money loan is the speed at which you can get one. Approvals are typically granted within 24 hours and settlements can take place in less than a ...

Yes, most hard money lenders in Virginia require a down payment, 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, ...

A good interest rate for a hard money loan typically falls between 10% and 16%, depending on factors like loan-to-value (LTV) ratio, borrower credit score, cash available for down payment and experience. In addition to ...

Most hard money lenders prefer a higher credit score BUT don't have a minimum credit score requirement. If the credit score is lower they might require a higher downpayment, additional collateral or a cosignor.