FINANCING SOLUTIONS AVAILABLE FOR
- We are hard money lenders, short-term mortgage specialists.
- We provide commercial hard money,private mortgage money, rehab hard money and commercial bridge loans.
- We provide short-term mortgages for purchase and renovation of foreclosed residential property.
- We are foreclosure and short sale bridge loan lenders in New York City.
- Foreclosure bail out loans.
- No application fees, no prepayment penalties.
- The Best Hard Money Lenders in New York.
- JV Hard Money Loans.
- Rehab Hard Money Loans.
- Close a deal in cash in as little as 7 business days.
The Difference Between Hard Money and Private Money in Staten Island
In general, hard money and private money are meant to help you with real estate investments. These are two interesting types of loans with many similarities and differences. If you want to use these loans effectively, you should be aware of these similarities and differences. This is very important when you want to compare lending opportunities from financial institutions and bank loans. You will be astonished to note that private and hard money loan lenders are not concerned about your credit scores. These lenders are interested only in your capital. If your capital spans between 25 to 40 percent the required purchase price, you will be granted the loan. Of course, you will pay few dollars more than the actual interest.
What is Hard Money Loan in Staten Island?
What differentiates hard money lenders in Staten Island from private service providers would be “professionalism”. Hard money loan lenders are real professionals. They have all important licensures and certificates to lend huge amounts of money. Just like property investors, hard money lenders are here to support people who want to buy real estate properties. Indeed, it is very easy to find hard money loans through professional directories and advertisements (for example). It is a part of their business to figure out if you are a good candidate or not. With hard money loans, there is very little negotiation involved.
What are private loans in Staten Island?
On the other hand, private money loans in Staten Island come with many benefits and drawbacks. If you are new to private and hard money loans, here are few tips to begin with. As suggested by its name, private money bridge loan Staten island lenders are private investors. This is why it is difficult to find them. Private lenders don’t advertise themselves. That means, you should hunt for them carefully. There are plenty of professional intermediaries to help you hunt private money loans in Staten Island. Private lenders will give you the freedom to negotiate better loan deals. However, poor negotiation skills may drag you out of the deal (especially if you are new to the industry).
Choosing Your Odds! Making a Wise Investment!
There are several differences between hard money and private money loans in Staten Island. If you understand these differences, you will be able to pick the right option for your investment/project.