King James Lending | Hard Money Loans Local Investors | Quick Close, Best Fees

Private money loans are typically reserved for real estate investors who need quick access to funds to capitalize on an opportunity. While traditional lenders offer alternatives to hard money loans, the loan term is quite different. 

A mortgage for an owner-occupied home might have a loan term of 30 years or more. However, an REI’s timeline is much shorter and carries higher risk. As such, the loan terms account for that with a higher down payment or a higher interest rate. Generally, these are not long-term loans, so there’s no need for it to last several decades. 

Unlike a bank or family member, private lenders can offer more flexible loan solutions so that you don’t have to rely on a great credit score or credit history. While both might use a loan-to-value (LTV) ratio, the end result is vastly different. This flexibility is why so many REIs like working with a private lender in their community. 

With private real estate loans, you can take advantage of more opportunities, cover closing costs, and build out your portfolio. To learn more about how to make a hard money loan work for you, contact the team at King James Lending for a quick consultation!