Unfortunately many homeowners are facing a situation in which they lose their homes because they have a financial setback and are not able to make their mortgage payments for a period of time. This can happen from a number of different situations that includes loss of job, long term illness, unplanned expenses, and unfortunate financial circumstances.
A hard equity loan can help an individual facing such a situation. It is basically a term used to describe a loan that is based solely on the hard equity in the property. It does not necessarily have to do with the person’s job, or his credit. Well, most of the hard equity lenders will not go any higher than 65% of the value of the property as determined by the lender. So if the value of your property is $100,000 you would be able to borrow only around $65,000 on a hard equity loan.
What are the benefits of a hard equity loan?
1) It does not have any age requirements.
2) No credit check is performed.
3) It provides instant funding.
4) It is one of the simplest loans available.
Finding a hard money lender in your area can be very simple. You just have to go online and search for options. All private lenders offer different payment options, plans and interest rates. It's in your best interest to look around to see which lenders have the most favorable interest rates so that you can make an educated decision based on the lending criteria.
You can counsel with the real estate firms in Florida like Benworth Capital. They can assist you in making the right decision for your property. It caters with the financial needs of the borrowers at fair and flexible terms. Their aim is to help the clients in acquiring and protecting the value of their real estate. If you are looking for Best Hard Equity Lenders in Miami, look no further than Benworth Capital. You can contact their team for initial consultation at benworthcapital.com.
A hard equity loan can help an individual facing such a situation. It is basically a term used to describe a loan that is based solely on the hard equity in the property. It does not necessarily have to do with the person’s job, or his credit. Well, most of the hard equity lenders will not go any higher than 65% of the value of the property as determined by the lender. So if the value of your property is $100,000 you would be able to borrow only around $65,000 on a hard equity loan.
What are the benefits of a hard equity loan?
1) It does not have any age requirements.
2) No credit check is performed.
3) It provides instant funding.
4) It is one of the simplest loans available.
Finding a hard money lender in your area can be very simple. You just have to go online and search for options. All private lenders offer different payment options, plans and interest rates. It's in your best interest to look around to see which lenders have the most favorable interest rates so that you can make an educated decision based on the lending criteria.
You can counsel with the real estate firms in Florida like Benworth Capital. They can assist you in making the right decision for your property. It caters with the financial needs of the borrowers at fair and flexible terms. Their aim is to help the clients in acquiring and protecting the value of their real estate. If you are looking for Best Hard Equity Lenders in Miami, look no further than Benworth Capital. You can contact their team for initial consultation at benworthcapital.com.