4 Myths in Hard Money Lending

Transcript (auto-generated)

Hi, my name is Akini and I am co founder at Western Capital. Today we will bust some myths around private hard money loans for investment property. First, let’s talk about zero down payment. There are no true zero down loans, however, we can structure your deal to get as close to zero as possible, depending on factors such as credit and the property itself.

Another myth, we want your house for ourselves. No, we at Western Capital don’t. Our lenders are specific about the markets they choose to invest in, and they have the data to back their decisions. If the market you’re looking at is underperforming, they will pass on it. And they can. This is why pre approval letters are address specific.

Another one we hear is, Why do we need an appraisal? Yes, you do. All the reputable lenders we work with require either their own or an independent evaluation. You can get a copy at close. Lastly, the 12 month seasoning requirement. Well, you just need to be entitled three months before you can refinance off of a whole new appraised value.

Have a deal call us today.