So what are some of the benefits to a hard money Mortgage? Well, here’s some numbers for your calculator to lick up. But first, remember that a hard money Mortgage is a form of asset-based borrowing instead that deals with real estate. What part? The most important part, of course – the financing. Also, some borrowers also pursue Arizona hard money Mortgages when their financing needs are super urgent and more traditional and conventional financing sources cannot respond in time.
Here are those numbers, as promised:
65%? Why that’s nothing! Right? What would your original typical banker say to that? I’ll bet he couldn’t control himself.
Also, you should know Rates vary from 12%-18%, additional interest or origination points may vary from $700 to 4% of the Mortgage amount; depending on the project, terms range from 3-24 months and Mortgage to value (LTV) can be up to 80%.
So now that you’re starting to see the benefits and the more financial side of things, you may want to check out some hard Mortgages and see how they’d work equally or even better for you than a traditional, boring Mortgage.