Hard Money, Fast Turnaround

Hard Money, Fast Turnaround

Category : Blogs

Why are hard money loans generally so short?Hard Money Clock

    While Fulford Lending remains flexible,  most hard money lenders generally lend money for terms of six and twelve months on average. This can put borrowers in a bind and some are excluded from working with you all together. If the borrower can make payments and  the LTV is good, why wouldn’t you offer them a refinancing option? The reason is lenders rarely lend strictly their own money. They lend from a pool consisting of investors and colleges. These investors don’t want their money tied up for long, so they demand short cycles for the loan to be paid in full. This also makes sense for the lender because he charges points at the creation of each new loan. The short stick goes to the customer.  Conversely, more favorable time tables are found in lenders who use their own money and are free to adjust as they see fit.

Food for Thought,

Nathaniel S. Fulford.

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3 Comments

  • Mirta

    October 10, 2017 at 1:40 am

    Many banks provide online tools which help you check the home eligibility calculator.

    So naturally we were intrigued if we saw that somebody had written an article describing why even private money is tougher
    to secure a hold of such days. Before choosing to refinance, recognize all the facts first
    so that you know very well what you get into.

  • Lord Mortgage & Loan

    September 26, 2018 at 4:35 am

    I really liked your info! I visit your blog on a regular basis and have shared with my twitter fans
    and they love the blog. Keep up the awesome work.

      FulfordLening

      September 26, 2018 at 1:56 pm

      Thank you very much! We appreciate the support.

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