A hard money lender is a financial institution or individual that provides short-term loans secured by real estate. These loans are often used by real estate investors to purchase, renovate, and sell properties quickly. In Florida, a hard money lender attorney is a vital resource for anyone looking to secure a hard money loan.
Benefits of Florida Hard Money Lender Attorneys
One of the main reasons why it’s important to work with a hard money lender attorney in Florida is to ensure that the loan agreement is legally sound. Hard money loans often have higher interest rates and stricter terms than traditional loans, and it’s important to make sure that the terms of the loan are fair and clearly stated in the agreement. A hard money lender attorney can help you understand the terms of the loan and ensure that your rights are protected.
Another reason why it’s important to work with a hard money lender attorney in Florida is to ensure that the loan is properly secured. In order for a hard money lender to provide a loan, the borrower must pledge real estate as collateral. A hard money lender attorney can help you understand the risks and benefits of using real estate as collateral and advise you on the best course of action.
A hard money lender attorney can also be a valuable resource if you encounter any issues with the loan. For example, if the lender fails to make the required payments or breaches the terms of the loan agreement, a hard money lender attorney can help you resolve the issue and protect your rights.
Overall, a hard money lender attorney in Florida is an invaluable resource for anyone looking to secure a hard money loan. They can help you understand the terms of the loan, ensure that the loan is properly secured, and protect your rights if any issues arise. If you are considering a hard money loan in Florida, it’s important to work with an experienced hard money lender attorney to ensure the best outcome for your situation.
Are you looking for a Hard Money Lender in Lake Worth Florida, Lantana, Florida, or Boynton Beach Florida? Do you need a private money loan today? No problem.
Clear2Close Title & Escrow, LLC is an attorney owned local title company that is your #1 source in South Florida for Real Estate Closings and Hard Money Lending. Clear2Close works with an In-House local Hard Money Lender. Our Lenders focus primarily on the Asset itself (the real property), rather than your income.
The benefit to our In-House local Hard Money Lender is that we are able to provide Borrowers with quick and timely decisions as to Borrower Loan qualification. The Result- the Borrower can quickly close on a transaction. This eliminates the Borrower having to wait the standard loan approval periods of 30-45 days you find when working with a traditional bank/lender. Our Hard Money Loans are primarily made in Florida, but we have the ability to finance out of state transactions.
Typical Loan Terms:
Interest Only Loan;
Interest Rates from 9%-12%;
Term from 1-3 years;
6-12 month prepayment penalty; and
Loan-to-Value Ratio of no more than 60%.
Purpose of Loan*:
Purchases;
Refinances and Cash-Out;
Fix and Flip; and
Short-Term and Bridge
*The Purpose of the Loan cannot be for the Purchase of an Owner-Occupied Homestead Property.
To learn more, call us today @ 561.600.0448.
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