Hard money (aka. Private Mortgages) is essential in California’s top county real estate markets – such as Sonoma, Marin, Santa Cruz, San Luis Obispo and others – for several powerful reasons.
We know our real estate market has always been fast paced and competitive, making the cumbersome approval process and strenuous qualifying demands from lenders a serious stumbling block for many a borrower. A number of these qualifying problems can be solved for buyers & borrowers, with a private money loan to finance their property investments – be it a purchase or refinance.
Hard money allows far more flexibility than other conventional types of financing without the hassles of institutional lending. It allows for quick access to capital so that investors can secure opportunities and address time-sensitive projects without the nail-biting associated with conventional lending.
Additionally, private money lending is a viable option for borrowers who may not meet the strict criteria of conventional lenders. Because borrowers may access this type of loan for different real estate purposes, e.g., owner-occupied residential, commercial real estate, and land opportunities, they can benefit from the flexibility and speed of a private mortgage making it a significant element in California’s real estate market.
