Whether you’re a Seattle real estate investor seeking to buy or flip a property, or you’re an experienced investor looking to expand your portfolio, hard money lenders can help you find the financing you need. These short-term loans offer low interest rates, and can help you close deals faster.
Hard money lenders offer loans for all types of properties, including single family homes, condominiums, multi-family properties, and commercial properties. These types of loans are popular among real estate investors because they allow them to obtain the funding they need quickly. This is especially useful for investors in Seattle, Washington, where properties can sit on the market for long periods of time. However, this can also mean that the area isn’t attracting enough buyers, and properties are sitting vacant, leading to high asking prices.
Hard money lenders don’t look at credit history or income, but instead use the value of the property as a basis for the loan. This type of loan is often referred to as a chattel loan, and is similar to loans in other countries. It’s important to remember that collateral can be lost if the Hard Money Lender Seattle borrower defaults on the loan. Fortunately, hard money lenders are often willing to work with borrowers who would have a hard time getting approval from traditional lenders.
These loans typically come with interest rates between 10% and 15%. However, it’s important to keep in mind that the rates are higher for borrowers with poor credit or a high risk to the lender. A hard money lender may only be willing to lend up to 75% of the value of the property, which can be helpful if you’re looking to purchase a home with low equity.
Hard money lenders in Seattle are also able to offer financing for commercial properties, and are often a good option for investors looking to purchase or flip properties in the area. They can also offer loans for a variety of properties, including resales and short sales.
If you’re looking for a Seattle hard money lender, you’ll want to make sure you work with an experienced company. One of the best ways to find a lender is to consult with your real estate agent. Agents often have a list of hard money lenders in the area, and can help you evaluate your options. A real estate agent can also help you find other investors and flippers in the area.
If you’re looking for hard money for a Seattle investment property, you’ll want to check out Lantzman Lending. They’ve been in business for over 30 years, and have a reputation for providing quality financing. The company doesn’t use middlemen or require extensive approval processes, and they offer loans for fix and flip properties. You’ll also want to look at other private money lenders in the area, as their terms and conditions may differ. You’ll also want to ask your agent about any other financing options available in the area.