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There are any number of reasons why a borrower may not qualify for a traditional loan. If you have been turned down for traditional financing, Premier Lending Corp can help. Our hard money loans feature easy qualification and a streamlined approval process.
Hard money loans, also known as non-prime loans, are a lending product aimed at customers who do not qualify for traditional lending. Customers who apply for hard money loans carry a higher perceived risk level.
To offset that risk, hard money loans are secured by collateral, and may include higher interest rates than traditional loans along with higher down payment requirements.
Hard money loans are an excellent option for borrowers whose credit scores or credit profiles disqualify them from traditional financing.
You may also want to consider a hard money loan for reasons unrelated to your credit score. Because approval requirements are less strict for this type of financing, the entire process is often faster. For short-term financing, this can be a big plus. So even if you qualify for traditional lending, you may prefer a hard money loan instead.
A hard money loan may be right for you if any of the following apply:
You do not qualify for traditional lending because of your credit score.
You cannot claim income for your business and need to obtain a commercial loan.
You want to fix-and-flip real estate and need a short-term loan in order to do it.
You need short-term financing to help you clear your debts.
In many situations, a hard money loan may be all you need to achieve your goals. In other cases, you may start out with a hard money loan, and later decide to refinance to a traditional loan once you qualify. That is something we can talk about during your consultation. Either way, we will strive to help you fulfill your needs now and in the future.
Are you ready to get the loan you need now to meet your short- or long-term financing objectives? Premier Lending Corp offers competitive interest rates and terms on hard money loans. Please give us a call today at 954-840-8811 to schedule a consultation.FREE Mortgage Rate Quote!
Premier Lending Corp is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.