Find the Right Hard Money Lender

When you need a higher than normal amount of cash, hard money lenders might be the best approach to ensure you’re going to get it. What’s the difference in working with hard money lenders, as opposed to traditional lenders? For starters, they’re going to afford you a higher lending limit than you’d get with a traditional bank or lender you’d work with. Additionally, you’re putting down real assets to back your loan and the fact that you’re going to repay it. This means you’re putting down a home, or something of high value, so they’re more willing to work with you as a borrower, as opposed to someone who won’t put down that collateral.

Benefits of hard money loans

You have to put down real assets, and in some cases, people run the risk of not repaying on a hard money loan. So, why is this a beneficial option as a borrower? There are many reasons that hard money lenders are a great option and route for you as a borrower, even though you are putting down major collateral to borrow. Some of the benefits include

  • More cash instantly than you’d get with basically any bank or private lender
  • Quick approval
  • Most borrowers are going to repay (since you’re putting down so much, you have more incentive to repay)
  • They offer long repayment terms, extending 30 years (or longer in some cases)
  • The approval process is quick, and most hard money lenders are not going to do credit checks or other income verification
  • You’re going to receive cash to make major investments in real estate, commercial, and residential transactions, that you otherwise would not be able to afford engaging in as an investor

There’s always a risk when it comes to borrowing, therefore this is something you’re going to have to weigh as a borrower. However, when it comes to risk averse borrowing options, a hard money loan is a great option when you need high amounts, and quick cash for a transaction or investment you would like to engage in.

When the time comes to take out a hard money loan, it’s important to know what you’re doing and that you’re working with a viable, reliable lender as a borrower. Take the time to understand the process, how much you can borrow, and what you can expect as a borrower, in order to ensure you’re ready for a hard money loan and the repayment terms you’ll be afforded as a borrower.…

Continue Reading

4 Ways On How To Take Out A Student Loan For College

Are you thinking of going to college? Or, maybe you have a child who has reached college-age. Whatever the case may be, you will quickly discover that college is expensive. Even if you have made efforts to save for this expense, you may find that you cannot cover all of it out of pocket.

If you find yourself in this situation, don’t panic. You can always take out a loan to pay for college costs. In fact, there are at least four different ways you can secure the money you need to pay for education expenses.

Option #1: Take Out a Title Loan

Do you own a vehicle, preferably one with a high dollar value? If so, then you may be able to cover some college costs by taking out a car title loan.

These loans are available to anyone who owns a vehicle. Most lenders will work with you regardless of credit history, so this is a great option if you don’t have good credit.

With this type of loan, you will use your vehicle title as collateral. As long as you meet the terms of the agreement and pay off the loan as required, you will have the money you need while retaining use of your vehicle and, once the loan is satisfied, full ownership of the vehicle as well.

This option is a solid choice when you need money for college quickly.

Option #2: Fill Out the FAFSA

The Free Application for Federal Student Aid, commonly known as the FAFSA, is a federal form that can show you any and all financial aid to which you are entitled. Filling out this form is a bit of a hassle, but it’s definitely worth your time and effort.

After you have filled it out, you will get information on loans, grants, and even scholarships for which you are eligible, all of which can make a huge dent in your college costs. Some people even qualify to have all of their college expenses covered by aid.

While most loans will have to be paid back in full, some forms of aid you’ll discover via this helpful form are completely free and do not require payback, so you may only have to take out a loan or loans as a last resort and/or to cover those final expenses.

Option #3: Take Out a Direct Subsidized Loan

Another type of loan that you may want to try for is a direct subsidized loan. These are loans that come from the United States Department of Education.

To qualify, you need to be going for an undergraduate degree, and you must demonstrate financial need according to eligibility requirements set in place by the organization. 

How much you will be able to borrow will depend on the school that you choose, so if you go for this type of loan, try and choose a school that allows you to borrow the largest amount possible. You should borrow as much as possible via this loan type since the interest is paid for by the government during the time that you are in school and for the first few months after you graduate.

Option #4: Private Student Loans

One final option to consider is taking out a private student loan. Many organizations offer these types of …

Continue Reading