No Upfront Credit Checks | Quick Approvals | Competitive Rates | Trusted Advisors
No Upfront Credit Checks | Quick Approvals | Competitive Rates | Trusted Advisors
Please reach us at Loans@alliedfinanciallending.com if you cannot find an answer to your question.
A hard money loan is a short-term, asset-based loan that is typically secured by real estate. It’s often used by real estate investors for quick funding when purchasing, rehabbing, or flipping properties.
Hard money loans are ideal for real estate investors, house flippers, or individuals with limited access to traditional financing due to credit challenges or tight timelines.
Applying for a loan with Allied Financial Lending is easy. Simply fill out an application and submit all required documents--proof of funds, a copy of your credit report, and an appraisal.
Hard money loans are based primarily on the value of the property being used as collateral, rather than the borrower’s creditworthiness. They also have faster approval times, but higher interest rates compared to traditional loans.
Qualifying for a hard money loan focuses on the value of the collateral (real estate) rather than personal credit. Lenders will also consider your experience with similar projects and the potential profitability of the investment.
Hard money loans can be used for residential, commercial, and industrial properties, as well as land development and Fix & Flip projects.
Repayment terms for hard money loans are short, usually ranging from 6 months to 3 years. This makes them ideal for projects with a quick turnaround, such as property flips.
If you’re unable to repay the loan, the lender may foreclose on the property used as collateral. It’s essential to have a solid exit strategy to avoid this outcome.
Copyright © 2019-2024 Allied Financial Lending - All Rights Reserved.
This website uses cookies. By continuing to use this site, you accept our use of cookies.