My grandmother’s house was damaged in a fire. The home is under my name and some other family members. We don’t meet the banks guidelines for a equity loan. All I need is 25,000 and the AVR is 85,000. Anyone know of a good hardmoney lender that goes that low or any other private funding institute? Oh that house has no debt on it. Thanks
you could try the HML on the leftside of the screen under Investor Resources.
how much is owed on the house? For HM you’ll need to be able to secure it within 70% of the ARV
Looks like from the original post there is nothing owed on the house and $25K is needed to fix it from the damage.
You could try to get a secured personal loan. Do you plan to refinance out of the rehab money? I was able to get an $30K unsecured personal loan with Bank of America. It ended up being a personal line of credit but the interest rate is tied to the prime rate. The started out at 7% and now it’s down to 4.5%. You can even set terms as high as 8 yrs. if you need to.
Thank you for sharing useful information.Hard money is declared contributions to a specific candidate.Soft money is contributions to a party
Matching funds come out of that checkbox on your income-tax return. The government gives you money to run on but sets rules and limits.
We’re talking about hard money in a different context. You are referring to the political world, this is real estate. Totally different meaning.