A loan of last resort or a short-term bridge loan is a hard money loan. Hard money loans are usually backed by the value of the property and not by the credit worthiness of the one who borrows money. As the property itself is the only protection against default by the borrower, the hard money loans have a lower loan to value ratios than the traditional loans. Hard loans are generally got by an individual their credit is not good for a conventional loan, if one needs a big loan amount in a short period of time. Hard money loans can be got by a quick process and also largely based on equity or down payment.
What Is Special About Texas Hard Money Loans?
Hard money loan is a term that is often used exclusively in the United States. In commercial real estate, hard money became an alternative last resort for property owners who are seeking capital against the value of their holdings. There are many companies, firms and individuals in Texas who lend ttexas hard money loans. Hard money lenders will offer a range of requirements on how much they will lend, what types of real estate they will lend on, minimum and maximum loan sizes. So you have to choose the best firm in Texas that will produce fast, reasonable and secure hard money loans that will enable you to close quickly on the residential property investments. One such firm is the A List Partners Management (ALPM) which is hard money lender that lends hard money loans in Texas which avails loans for purchase and rehab costs on fix and flip projects throughout most of Texas which includes Austin, San Antonio, Houston, Dallas and the other surrounding areas. Choose a direct lender based in Texas with whom you can quickly close on your property investments with peace of mind.