A hard money loan is a quick way to get the cash you need for your projects from hard money lenders. This loan offers residential and commercial property financing options and has many benefits that traditional lending doesn't. The lending process is faster, and with simplified qualifications, you may decide that a hard money loan best fits your needs. At Gauntlet Funding, we offer various hard money loan services for you.
Hard money loans have a faster approval process; the property involved in the loan determines the approval time. Flexible terms allow for quick repayment so that you can make a profit. Your property is your collateral, meaning you can take out a certain percentage of the total investment value to perform repairs, renovations, or new construction.
Explore the following types of hard money loans.
Bridge loans are a common type of hard money loan in the real estate industry. While a traditional mortgage may take up to 45 days to complete and file the necessary paperwork, a bridge loan can be finalized in days, allowing you to close on a property before someone else has the opportunity. Once the property sells, you can pay off your bridge loan and move on to your next investment transaction.
A fix-and-flip loan is a hard money loan that allows you to quickly get the money you need to fix and flip a property. This loan is suited for repairing properties such as REOs, foreclosures, and short sales. Gauntlet Funding can get you the money needed to restore these types of properties quickly so you can turn a profit.
Joint venture loans allow you to share the responsibilities and resources with a partner, as agreed upon in a legally binding contract. This loan type is an option if you're investing with a project partner or cannot get approved independently. It also may help you get more favorable terms than seeking funding on your own.
New construction hard money loans allow you to get the funds you need to complete construction. Whether it's a renovation, construction only, or owner-builder construction, we have several types of financing available for new construction.
If you're interested in creating rental properties, you may benefit from one of our longer-term financing options, such as a rental loan. This type of loan is similar to a fix-and-flip loan and will allow you to rehabilitate a distressed property. Once completed, you can rent the property. Rental loans are asset-based, allowing you to quickly get the funds you need, especially for highly sought-after properties.
If you're in the market for a hard money loan from a private lender, reach out to our team at Gauntlet Funding to get started. Our team strives to stand above the competition, and our finance experts can help you find a loan that fits your needs. We offer competitive rates and affordable terms to get the money you need. You can reach us online or by phone today at 917-781-2440.