December 28, 2023

Hard money is ideal for those commercial real estate investors who see the value of their property as being used as “Collateral” and do not rely on the borrower’s creditworthiness.

Why you should consider a Hard Money Loan:

1. Quick Funding – Hard Money loans can be approved and funded more quickly than traditional loans, which is important to commercial real estate investors who need to secure property quickly.

2. Flexible Terms – In terms of payment terms and collateral requirements Hard Money loans are more flexible since they are funded by private investors.

3. No credit requirements – Hard money lenders are more concerned with the value of the property for collateral than credit scores. So, credit scores are their least concern for approval.

4. Less Paperwork – Hard Money lenders require less paperwork and documentation than traditional lenders, so the application process can be approved quickly.

A Hard Money loan can be useful if you are planning to finance commercial real estate that needs to be done in a short period of time.

Also, Hard Money loans are useful if you need financing through a quick approval and more convenient process especially if you need to fund a project quickly.

That’s why it’s important to discuss it with a private lender that specializes in commercial real estate and help you out with a faster closing time frame.

Century Capital and Hard Money Mobile is a private lender Company that specializes in commercial real estate loans. We are a leading private company that provides commercial real estate loans which can typically be done in two weeks, and a funding commitment issued in 48 hours. You can always reach us at 201-880-7850 ext 102 and send us an email at info@centurycapitalfinance.com / victor@centurycapitalfinance.com

Bridge Loans are widely used in commercial real estate to make down payments for new properties. It typically has a higher interest rate than traditional loans and also higher fees and closing costs due to its short-term nature. However, it is useful for borrowers who need to do it quickly for housing markets.

There are several types of Bridge Loans that are designed for each specific need and here are some of the common types of Bridge Loans:

1. Real Estate Bridge Loans – It is used to finance the purchase of a new property while waiting for the existing property to sell. It is commonly used for those who are engaging in real estate business.

Business Bridge Loans – It is a short-term loan that is used by businesses to cover capital needs or to bridge the gap between rounds of financing.

2. Hard Money Bridge Loans – It is a short-term loan provided by private lenders to typically secure their real estate and other assets.

3. Swing Loans – It is a short-term loan to bridge the gap between the purchase of a new property and selling an existing property.

4. Construction Bridge Loans – It is used to finance construction projects and is typically short-term loans that need to be refinanced once the project is completed, and permanent financing is secured.

5. Purchase Money Bridge Loans – It is used to finance the purchase of the new property while the borrower waits for an existing property to sell. It is typically used in situations wherein the borrower finds a property that they don’t want to lose to another buyer while waiting for their existing property to sell.

Every bridge Loan has its unique features and requirements. Borrowers must carefully consider which type of bridge loan is best for their needs.

At Century Capital we can help you out to bridge your financing needs for your commercial real estate needs, with at least 2 weeks closing ratio, and can give you a loan commitment within 48 hours reach us at https://lnkd.in/gQEY6JxT for faster transactions you can always contact us at 201-880-7850 ext 102 or email us at victor@centurycapitalfinance.com and info@centurycapitalfinance.com