The student loan industry faces many challenges. Lately, Federal subsidies have been cut back. This means that companies offering Federal student loans are no longer seeing a profit. Administering Federal student loans is no longer a viable option for most banks and other institutions. If they can only lose money by offering Federal student loans, [...]
Privately funded, often called “hard money” commercial mortgage loans are equity based loans written by privately owned lending companies or wealthy individuals. The loan approval process is fairly straight-forward when compared to conventional, institutionally funded loans, but private lenders have lending standards and loan parameters just like banks do. To secure an approval and get [...]
Privately funded, hard money commercial mortgage loans require much less documentation than conventional, institutionally funded mortgages, and they are generally equity based and not dependent on the borrowers credit score. Decisions are made very quickly and private loans can close in less than half the time it takes to close a bank loan. For many [...]
Many people do not understand why home construction loans are more difficult to get than standard mortgage loans. Lenders consider them “story loans”, meaning simply that there is a tale that leads up to the building plan. One common story is that the borrower is hoping to improve the value of his property. Another is [...]
Many of us have heard about private money, hard money, and other types of non-traditional funding sources for real estate transactions. It sounds good but you may not be fully aware of all of the benefits that private lending offers to you and your business. With that in mind, I would like to outline the [...]
