Gone are the days when the banks and big corporations were the only places you could seek financing to make a profit from your property. Today, private lending firms like the LBC Capital LLC firm, seek to finance borrowers.Unlike banks, the firm finances you regardless of your poor credit history. What actually matters to private lenders is the collateralon the table, not your credit score.
Within a day or days, approval is given depending on your situation. Whether rehabilitation or purchasing of the property you intend to make profits from, the lender is keen to understand the situation. LBC Capital LLC understands no situation is the same for everyone. So whether you are starting a business, buying land or even constructing property, the LBC Capital LLC may still finance you.
The idea of having your property is fulfilling. However, not everyone believes it is achievable especially for anyone with a poor credit history. Well, LBC Capital LLC offers you low-rate hard money loans.The worth of your property, as well as the value of the property after repair (ARV), is what is majorly look into. The firm does its financial analysis which includes the loan to value ratio, checks the location and the necessary paperwork or permits of the property. Thereafter, the property valuation is determined.If satisfied, the firm finances you immediately without hesitation.
Having been in the game for more than 15 years and helped over 7500 happy clients,LBC Capital LLC has changed the lives of many indeed. The firm has managed to overcome the same hurdles you as a borrower are facing to get your deal financed. And with the ever-changing policies surrounding the lending process, the firm understands how you can protect your assets and yourself.
The staff in their local hard money local office give advice throughout the process of lending and financing. Luckily, their Los Angeles Hard Money loan office is only a call awayand consultation is free.
What most real estate developers need to understand is that financing doesn’t necessarily have to be done under the conventional lending guidelines.
Hard money loan can be a great financing alternative since it provides an alternative that is not available when dealing with banks or other traditional lenders.These loans are issued directly which means that no third party is involved in the agreement.
The borrower also enjoys a more flexible arrangement which can lead to more favorable terms.Here are more reasons why real estate developers should opt for hard money loans.Faster Approval RatesThe good thing about hard money loans is that you can get pre-approved within one or two days as long as your have provided all the relevant documents.
What most hard money lenders need is for the borrower to have an equity of at least 20%, and the asset to have good market value.
You can be financed in less than a week which is unlike normal loans that take more than a month.Credit Risk Isn’t A ConcernLBC Capital LLC or most hard money lenders aren’t focused on arbitrary income requirements or credit score, but are interested in the equity and value of the property.
If the borrower fails to repay the loan, the lenders will take the property as collateral.
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