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Find San Antonio Hard Money Lenders
The beautiful city of San Antonio is located right in the heart of the Texas Hill Country, and real estate is very coveted in the Alamo City and beyond. We are happy to provide many private individuals, real estate investors, and commercial businesses with a chance to access fast property loans as a San Antonio hard money lender.
What Are San Antonio Hard Money Loans?
Traditional sources of property financing consist of banks and mortgage companies. These sources have a couple of problems. These days, requirements for borrowing are very strict. Even when these types of lenders do intend to approve a borrower’s application, it can take them weeks or even months to actually close the loan and provide money.
When you deal with a San Antonio hard money lender, you get to enjoy the advantage of dealing with a decision maker very early in the process. That is one reason why many businesses or private parties can get an answer to their loan request within hours instead of weeks!
The other big advantage is that these alternative financing companies may be very willing to accept a real estate loan application that other financing companies have declined. That is because they base the amount of money that they are wiling to lend mostly on the fair market value of the San Antonio property, and they do not solely base it on credit scores or the amount of money that the applicant has already borrowed from other sources.
Typically, the amount of a loan that you can get for a hard money loan in San Antonio will be based upon some percentage of the value of the property. Additionally, that property will serve as the collateral for the loan. This is similar to the way that banks and mortgage companies work, but those traditional property financing companies also want to know a lot more about the borrower and not just the property!
San Antonio Commercial and Private Bridge Loans
Local hard money lenders also provide businesses and individuals with bridge loans. These are call bridge loans because they help “bridge” the gap between the time that a deal has to be made and more conventional sources of financing are expected to appear. In some cases, it can take weeks or months to wait for a mortgage, investors, or other financing.
Consider some cases where both private parties and businesses might use a bridge loan:
- Private residential bridge loans: It can take months for a home to sell for a good price. Some people may need to purchase another home before they have sold their old home, and a bridge loan can provide financing until the home owner can use funds from a sale. This allows the home owner to wait for the right buyer and the right property sales price.
- Real estate investors: Investors may need to quickly take advantage of a good deal on a home or commercial property. They intend to rehab the property quickly and then sell it for quick profits to pay off the loan and pocket the rest of the money.
- Commercial businesses: It takes time for investors or equity financing to arrive, but business owners and managers can use San Antonio bridge loans to access the funds that they need to make the right deal at the right time.
Why Not Ask a San Antonio Hard Money Lender for a Fast Real Estate Loan Approval?
Hard money lenders can help you close the right deal at the right time. This is because they approve applications very fast, sometimes within hours, and they often say yes when banks or mortgage companies decline applications. If you have problems with traditional property financing, your solution might be a San Antonio hard money lender.