If you are a real estate investor, you must be aware of Freddie Mac and Fannie Mae guidelines to finance your real estate. However, you can avail hard money even without conforming to those guidelines if your purpose is just to hold the business and venture into real estate investment. If you have known one provide, you better visit their official website to see all the things that they offer. Aside from that, it is also important that you will be educated as to what hard money loans Chicago are and how you can avail one.
Upon your visit at their official website, you will be informed about the real purpose of hard money loan. You will be aware that the loan itself is not for people with poor credit. It is not only rendered to people who do not have money for down payment. It is for small business owner who has the desire to invest in real estate and plan to succeed. You need a provider that will become your official business partner in meeting the goals. Whether you have buy and hold, fix and flip, and even buy-rehab-rent-refinance-repeat properties to sell, you still need a finance partner.
You deserve to know several funding options. Upon browsing the site, you will know that the company lends to company that opts for fix and flip residential in-house programs. You only need to maintain a minimum credit score of 620. You may enjoy a minimum loan of $100,000. It also has foreclosure bailout. If you opt for fix and flip multifamily and mixed used in-house programs, you can have 65% cash out, 75% financing for purchase with no rehab, and even up to 85% financing for purchase. Your credit score in this case must be beyond 650.
If you desire to avail fix and flip residential brokered programs, you will enjoy 100% financing for purchase and the same percent for rehabilitation. As an experienced borrower with 660 credit score, you can also enjoy the loan. For someone wo has 620 credit score, you can avail $500,000 up to $10,000,000 investor exposure credit line. You will also appreciate their help if you have fix and flip multifamily and mixed use brokered programs. You may also desire to avail from fix and flip multifamily and mixed use in-house programs. Aside from 65% cash out, you may also enjoy 75% financing for purchase with no rehab. Your credit score must be 650 and above to have up to 85% of financing for purchase and another 85% for rehabilitation.
If you desire to apply, you better contact them at their given hotline numbers. Their agents are very much willing to communicate with you. However, you also have the leeway to send them a message through e-mail. Expect their people to contact you and discuss with you the details on how to be eligible. It will be ideal also if you choose to know some updates from them through their social media mileage. You can catch up with them through Facebook, Twitter, and Instagram. For someone holding real estate business in Chicago, choosing a lender will never be tough.