How Do our Hard Money loans at Investor Connection Work?
Investor Connection loans are short-term, asset-based loans used primarily by non-owner-occupied real estate investors to finance the purchase and renovation of investment properties. Unlike traditional loans, which are based on the borrower’s creditworthiness and income, Investor Connection loans are secured by the property itself.
How Can You Qualify for a Hard Money Investment Loan?
Step 1.
- Property Value: The primary qualification for a hard money loan is the value of the property being used as collateral. Lenders will assess the property’s current market value and its after-repair value (ARV) to determine the loan amount.
Step 2.
- $0 Down Payment: We offer 100% Loans however borrowers are usually required to have closing costs which can vary with each transaction depending on the loan amount.
Step 3.
- Exit Strategy: Its important you communicate how you plan to repay the loan. A clear exit strategy, whether it’s selling the property, refinancing with a traditional mortgage, or another plan.
Step 4.
- Experience and Track Record: While not always necessary, having experience in real estate investing is always a plus. At INVESTOR CONNECTION we will still lend to the first-time borrower.