Source of funds that are made available generally from private investors. These are Non Traditional Bank Funds.
Private Money is usefull to those who are looking to buy real estate for the purpose of taking a property off the market quickly. Typically this will be a Fix & Flip situation. The asset acts as the collateral in a asset based lending environment. No Tax Returns are required to qualify the borrower. Borrowers must show they have the funds to close on the loan.
Private Money of this type is offered generally for 1 year on an Interest Only basis. Hard Money is often used in residential and commercial real estate transactions. Value Funding Inc has been lending on asset based properties for a considearable amont of time. Give Value Funding Inc. a call for our Free loan proposal and terms.