If you’re looking for a residential loan for any reason, you may be wary of the mainstream market. Most people have quite sincere reservations about the residential loan process. If you’ve had one mortgage, you don’t really want another if you can help it.
Add to this the fact that most people thoroughly dislike the whole loan application process. It is archaic, it’s very time-consuming, and, well, sometimes it’s just plain unpleasant. When you’re taking a residential loan for your home or some other purpose, you don’t want problems and things you don’t like – You want solutions.
You’ll be interested to know that the new approach to residential loans is a thing called residential hard money loans. These are hard money loans for residential purposes, using specific collateral as security on the loan. The loan must be repaid according to loan terms within the specified period, and that’s pretty much it. These loan applications are processed much more quickly than conventional loan applications, and there is little or no bureaucracy involved.
If you’re thinking that that sounds like a pretty realistic approach to borrowing, it is. Residential hard money lenders are private moneylenders. These guys are actual loan experts, they do it for a living, and they understand the value of time and money for borrowers.
Taking out a residential hard money loan is pretty easy. You simply make your loan application, and lenders bid for your loan. All you need to do is choose the best loan offer and simply pay off the loan. Makes the mainstream market look pretty pathetic, doesn’t it?
To save you some time looking around - There is a site called Lending Universe.com, one of America’s biggest hard money lending sites which is very helpful in learning the hard money loans process. You can even get private commercial loans on the site.
They have a lot of very useful information, including all the essential things you need to know, and lots of useful links. Check out their website here at http://www.lendinguniverse.com/. If you have questions, need more information, or you want to talk about specific issues related to your loan, just give them a call or contact them online.