Fastest Hard Money Loan Lender in Baltimore | Hard Money Lenders Baltimore

What is Hard Money?

The term "hard money" has a variety of meanings based on context . It can refer to loans, currencies, and political donations, to name a few. It generally refers to a particular financing chain, which is typically provided by an agency of the government or other financial organizations. Instead of a one-time permit, hard money is a source of funds that are made in the form of regular and scheduled payments that benefit the user.

Another way to think of hard money is physical currency. In this case, hard money would represent coins made from precious materials like platinum, silver, and gold.

What is a "Hard Money" loan?

The loans for hard money are secured with real property and are considered difficult to secure. In this instance, serves as collateral.

A hard money loan can be used to fund real property transactions. The loan is not granted by banks , but by investors or corporations.

In light of risk, hard money loans come with higher interest rates since they can result in significant financial burdens if the borrower is in default on the individual investor or business.

The hard money loan advantages:

Since collateral is present, they are able to be closed more quickly than traditional loans.

They are flexible and don't use an underwriting process.

The most important thing to consider is not finances.

Because the lender provides collateral, payment is not to be stressed.

The lender might gain from default when the collateral is large.

Why to consider Baltimore for the Real Estate Investment?- During the period of 2021-2023, the median sales price for a Baltimore area property was $290,000, and the average rental price for a one-bedroom apartment was $1,420. There is 9% increase in the real estate prices comparatively to pre-2000. That’s why, the Baltimore is considered as the fast-growing real estate market for the investment.

• RATES STARTING AT 6.99%*+
• POINTS AS LOW AS 1.50*
• 1-3 YEAR TERM INTEREST ONLY
• UP TO 90% LTV!
• NO PREPAYMENT PENALTY*
• QUICK 7 DAY CLOSING
• BROKERS WELCOME
• NO VERIFIED INCOME DOCS REQUIRED OR TAX RETURNS NEEDED
• MINIMUM LOAN AMOUNT OF $100,000 UP TO 100 MILLION
• LENDING AVAILABLE NATIONWIDE ON COMMERCIAL LOANS
• N/O/O RESIDENTIAL, BUSINESS USE PURPOSE, INVESTMENT & COMMERCIAL PROPERTIES ONLY
• 30 YR RENTAL PROGRAM WITH RATES STARTING AT 5.49%!

Why use hard money lender in Baltimore? - There are many reasons why a borrower would choose to use private financing or a hard money loan over affordable conventional financing:

- Fast Closing- Hard Money Loan typically closed faster than conventional loans being the real estate as collateral. It means, you can receive the funds in 3-5 days.

- Flexibility- They are flexible and do not use an underwriting process. We can tailor repayment and collateral release terms to be beneficial to both (us and lender).

- Financial condition not important. We can approve your hard money loan without requiring your financial documents.

- Credit score does not matter. If you do not currently have a good credit rating, it may be impossible to obtain a conventional loan for real estate development. But,  you can always get a hard money loan as it doesn’t required a your credit score.

- The payment is not highlighted because the borrower provides collateral. In a hard money loan, the property itself usually serves as collateral for the loan. But even here, lenders may give investors some leeway. For example, some lenders allow you to collateralize the loan with personal assets, such as a retirement account or residential property you own.

Our financing decisions mainly based on LTV for the Hard Money Loan Maryland requirements. Being said, we aim for an LTV of 50% to 65% for our hard money loans. This means that we generally lend 65% of the appraised value of the property to the borrower.