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Hard money lenders offer an excellent opportunity for real estate investors and several other types of businesses to seek easy, quick, and flexible financing for their projects. They offer all-encompassing industry experience, negotiable loan requirements, and easy repayment terms.

A private money lender can offer you a versatile range of financing services. They’re the best suitable alternative to conventional lenders such as banks and credit unions. Most private money lenders such as Allura Financial offer highly adept financiers who can also help borrowers obtain the right kind of financing to fulfill their needs.

What’s more, a private money lender isn’t as bound to traditional laws and regulations compared to traditional lending sources. They’re extremely flexible and swift in accepting hard money loan applications that have less to no chances of getting approved by a local bank.

Let’s delve deeper and learn about all the scenarios wherein partnering with a hard money lender can help you.

1. You’re Unable to Get a Conventional Loan

As we mentioned earlier, a hard money lender is a second-best alternative to banks and credit unions. These traditional lending sources usually dig deeper into borrowers’ past financial conditions and decisions which significantly impact their approval process. However, a hard money lender in Houston can help you seek financing regardless of your poor credit history.

Therefore, if you think your loan application will not be accepted by a bank or you’ve already faced a rejection, your best bet is to contact a hard money lender. Despite a poor debt-to-income ratio, a private money lender will still consider your application even for multiple commercial loans.

2. To Flip A House

Another scenario that mandates a reliable hard money lender’s presence is when you want to flip a house. This real estate investment business is surely very rewarding, provided that you have enough financial capital to make quick and attractive offers to the sellers.

So whether you want to fix, flip, renovate, develop, or rehabilitate a house for resale purposes, don’t hesitate to apply for a fix and flip loan in Houston. Adequate financing and a straightforward hard money loan can help you make quicker investment decisions without losing the deal.

3. If You Have Poor Credit History

It’s commonly believed that stellar credit scores are imperative to obtain loans, which is true if you’re considering taking out a loan from a bank. However, hard money lenders offer loans based on your collateral capacity, which exempts comprehensive credit history analysis.

4. You Need a Short-Term Loan

Hard money lenders are quite helpful in getting you fast approval on short-term loans. A short-term loan typically lasts for six months to one year and three years in some cases. Businesses looking for short-term loans to diversify their portfolio, expand to a new location, or developing a new office must apply for a hard money loan. This short-term financing tool enables the borrower to clear debts from their books and make effective investment decisions.

Interested in Hiring a Hard Money Lender in Houston?

Allura Financial offers flexible hard money solutions in Houston and many other areas across the US. They help you carry out capital improvement projects swiftly without high risks.

Learn more about our multifamily financing, single-family rentals, and other types of hard money loans, or contact us to make the right choice for your financial safety and well-being.