Hard Money Information And Tips

A stated income loan can be a great alternative to traditional lending, and in some cases it may be a better option to get the financing you need, quickly and hassle free. Whether you’re a landlord with an investment or rental property, or you’re having trouble applying for a mortgage loan, a stated income loan may be an option that can help you access the money you need for repairs, a down payment and much more. You Don’t Make Enough Money to Qualify for a Traditional Mortgage If you’ve tried to apply for a mortgage loan but were told you didn’t qualify because you didn’t make enough money, you may feel like you have nowhere to turn. Fortunately, there are still ways to get approved for a home loan. Most notably, loan programs that use alternative income verification are rising in popularity. These types of loans are also known as “no income loans” and use other types of documentation beyond things like your W-2. They may use a verification of employment letter from your employe...

When real estate agents dream...they likely dream that every buyer will have cash-in-hand and be ready to buy. Escrows would close faster, there would be a less paperwork, and no escrow would ever be canceled due to a lack of financing. The truth is, although most buyers can get approved for a standard Fannie Mae loan, there are situations where homeowners get a taste of real estate investing, and find that it can be both incredibly lucrative and exciting. Maybe they make the decision to sell their home and get quite a bit for it. They then decide to buy another property, thinking it’s as easy and painless as their first mortgage, and then BOOM! Reality hits them right in the face. Something has happened that’s keeping their loan application from getting approved. They can’t buy, the sellers can’t sell and the real estate agent is out of a commission. Nobody wins and nobody’s happy when a situation like this happens -- but the good news is that there are alternatives. How Alternati...