In general, does going through a hard money lender give an investor a better buying position than going conventional or FHA type loan? From what I understand, hard money lenders put up “Cold Hard Cash” that is readily available and may be more favorable to a seller rather than waiting to see if you can qualify for a loan. Is this a reasonable thought, or am I just up in the night?
You’d still put down that you are using mortgage financing on the purchase agreement - since the HML will still have to qualify the property. However you can say you can do a quick closing, 1-2 weeks, as HML’s usually take a short amount of time to fund loans. So you can close quicker than someone using a traditional mortgage financing, but they are both going to still be mortgages of some sort.