Hard money lending is a sometimes ignored sector. 说到借钱，大多数人会想到银行和传统的抵押贷款机构. 另一方面, 硬钱贷款贷款人提供了另一种获得所需资金的方法.
The number of property flips in the United States is significant. 大约有 300000年fix-and-flips in 2016, representing a $56 billion market.
葡京appownership rates are high, 大约65%, whether a buyer wants to acquire a fixer-upper or a recently remodeled home.
许多人不了解硬钱贷款的过程是如何运作的，因为这不是他们的第一个想法. Let's look more closely at what a hard money loan is and how to secure one.
What is a hard money loan?
A hard money loan is used by real estate for a brief period of time. In contrast to traditional lenders such as banks or credit unions, they are supported by private investors (or a fund of investors).
The loan terms are typically approximately 12 months; however, they can be extended to longer terms. 这种贷款要求每月只支付利息或利息加一些本金, with a balloon payment in the final term.
硬通货放款人可以借给借款人的金额主要取决于标的财产的价值. 房产可以是借款人目前拥有并想要用作抵押品的房产, or it could be one that the borrower is acquiring.
硬通货放款人更关心财产的价值，而不是利息 借款人的信用. 由于最近丧失抵押品赎回权而无法获得标准融资的借款人，如果他们在用作抵押品的房产中拥有足够的股权，则可以获得硬通货贷款. When banks say, “No, hard money lenders are a terrific choice.”
Who Should Use a Hard Money Loan?
A hard money loan can be obtained on practically any sort of property, including single-family residential, 多户型住宅, 商业, 土地, 和工业. When banks are unavailable, or the loan is required in a short period of time, hard money is a viable option. Hard money loans are secured for a variety of situations, including:
- 土地贷款
- 固定和翻转
- When the Buyer has credit issues
- 建筑贷款
- When a real estate investor wants to make a quick decision
当传统银行不是一个选择，而借款人又急需现金时，硬贷款是最理想的选择.
How long does it take to get a hard money loan?
Hard money loans are frequently accepted and funded within a few days.
大多数硬通货贷款的期限从一到三年不等. Hard money loan rates are often higher, which is why it makes sense to get one if you intend to pay it off promptly.
“许多炒房者使用硬钱贷款，因为他们想在一年内修缮并出售房屋, and they use the property as collateral for the loan,” says Joshua Blackburn of 进化回家.
在这种情况下，高成本被借款人快速偿还贷款的意愿所补偿.
Guidelines for Hard Money Loan Approval
硬钱贷款机构不像银行那样经历类似的承销过程. 债权人专注于这笔交易，并将根据你对以下问题的回答做出判断:
- Are the financial charges reasonable?
- Is there a buy-one-get-one-free offer?
- Are the renovations adequately budgeted?
- Is it true that the after-repair value (ARV) is correct?
- Is it possible to sell the house for a profit?
- Is the borrower capable of repaying the loan on time?
A hard money loan can be accepted and financed in as little as 7 to 14 days.
信用检查
A hard money lender will almost certainly run a credit check on you. They require a credit score of 600 to 620. 关键问题是确定借款人是否有大量债务或贷款违约.
财产价值
财产的价值在整个承保过程中都被考虑在内. Lenders take a greater risk with hard money loans. 该物业将被评估，以确定其真正价值和转售的最佳时机. Hard money lenders favor homes that sell quickly.
退出计划
The lender must take into account the borrower's exit strategy. 借款人是否可以在最后期限结束时一次性付清? They may also ask for a larger down payment to mitigate their risk. 一些硬通货贷款机构为投资房地产提供5年或10年的长期贷款.
经验
硬钱贷款人更喜欢借款人的类型，至少有一些房地产经验.
当地市场
Some hard money lenders prefer to work in their home areas.
Timeline for loan funding
The underwriting procedure is centered on the property's worth. In many circumstances, hard money loans are authorized within 48 hours. Once the process is completed, 承销商需要获得硬通货投资者的许可.
Hard money lenders are only able to borrow money from private investors. The lender orders an appraisal after the loan is approved.
The loan can be closed in a matter of days after the appraisal is finished. 根据评估时间，硬钱贷款可以在7到10天内融资.
How Are Hard Money Loan Rates Determined?
贷款审批流程如下:贷款人评估所有的背景信息，看看你是否可以实际承诺支付所需的款项. 因为贷款人在发放硬通货贷款时不会调查你的财务历史, 他们会自动认为你违约的可能性更大.
Hard loan lenders take this risk since the home is designated as collateral, 也就是说，如果借款人不偿还贷款，他们可以转售房产.
硬通货贷款利率上升的根本原因是风险增加. 利率通常比标准抵押贷款高出2 - 10个百分点. The average interest rate for hard money loans is 11.到2020年达到25%.
How to Apply for a Hard Money Loan
Lenders' requirements for hard money loans differ. 因为硬钱贷款通常是由个人或企业发放的, there is greater room for negotiation.
In general, there are three primary prerequisites for hard money loans.
首付/股票
获得硬通货贷款的首要条件是拥有所需的首付款或某一特定房产的股权，作为贷款的抵押品.
住宅物业的最低比例通常为25%至30%，商业物业的最低比例为30%至40%.
有时，贷款人允许借款人使用多处房产为一笔贷款融资. This is referred to as "cross-collateralizing."
拥有更多股权或更多首付款的借款人获得批准的机会越大——借款人在房产上的投资越多, the lesser the lender's risk.
Overall Financial Stability
硬通货贷款的另一个常见标准是借款人有足够的现金储备来支付任何持有费用和每月贷款分期付款. HOA payments, 税, and 保险 are examples of holding costs.
The greater a borrower's cash reserves, the more likely they are to be authorized for a hard money loan.
对于没有任何现金储备的申请人来说，通常很难获得贷款. 然而, 在某些情况下, 贷款人愿意增加贷款金额，并扣留借款人的部分资金来支付贷款, 保险, 税, and other holding charges.
在这种情况下, the borrower retains their loan, but the lender assures that monthly payments are not skipped.
房地产经验
大多数硬通货放款人都有兴趣了解借款人的房地产经验.
与经验丰富的房地产投资者相比，首次贷款的人可能更难获得硬通货贷款.
If the borrower has minimal expertise, the lender will request project information, including an exit strategy for the property in question. They'll want to know how the borrower intends to repay the loan.
The requirements for a hard money loan are not set in stone. Although there are broad conditions for hard money loans, they are not as rigid as typical bank loans.
Several hard money lenders, which vary from individual to individual or the organization, 愿意以标准银行不愿意的方式与潜在借款人接触吗.
If you need a short-term loan and have a good exit strategy, a hard money loan could be the ideal solution to your borrowing needs.
由第14街资本公司企业发展副总裁格兰特·麦克唐纳提供
