February 8, 2018
Traditional loans are based on the amount of money you make and your credit score. A “hard money” loan is based off a hard asset and allows you to qualify for and receive loans when you may not have a large salary or flawless credit score.
Hard money loans are attractive to those interested in property rehabilitation because they offer a way to get money fast. This is beneficial because it allows the rehabber to purchase the fixer upper fast before someone else gets the property. Then, rehab the property, and sell it to turn a profit in a relatively short amount of time. You don’t want to spend more time than is necessary when flipping a house or business, and Baltimore City hard money lenders increasingly known as private money lenders are here to ensure no time is wasted.
Private money loans are acquired through local lenders, rather than big corporate banks. This provides you with the reassurance that your personal situation will be considered all throughout the loan process. A local lender will be much more willing and able to connect with you on a more intimate level, giving you the confidence they have your best interests in mind and will do everything they can to get you exactly what you need. After all, their success depends on you paying their loan back.
Maryland Private Mortgage is your best resource for Baltimore private money loans. We are Baltimore City’s leading private mortgage lender, and we pride ourselves on providing fast and successful solutions for investors, rehabbers, and landlords all over the city.
How does our loan process work?
- First, we will go over everything you need to know about private money loans and ensure you understand what is involved in the process.
- Next, we will make sure you meet the requirements for the loan, and will assist you in completing and submitting our hard money loan application form.
- Once approved, we will contact you to go over the details of your loan.
The professionals at Maryland Private Mortgage have a combined experience of over 50 years in the lending industry. We take the time to learn about our customers individually and encourage them to be straightforward about their goals in order for us to help them more efficiently.
For more information on hard money loans, or to set up a consultation with one of our lending experts, contact us today.
The Maryland Private Mortgage Lending Team