Thinking about getting a hard money loan? You’re in the right place.

A hard money loan is a short-term asset-based loan funded by private individuals or other financing through a broker where the loan is secured by real property and is used for business purposes.

At Murk Investments Corp., we wanted to share the differences between hard money and conventional financing.

Hard Money
The application process for a hard money loan is much faster. Very little documentation is required. Usually just an application is needed to apply and be approved.
Hard money lenders can close within days, this is virtually impossible with conventional financing.
Hard money has fewer origination costs and fees.
Bridge loans can often be paid back as soon as 3 months.
We can be creative on a loan structure. For example, loans can be secured against non-real estate assets even when real estate is the primary backing of the loan. Cross collateralization is an option.

Conventional Financing
Conventional loans will take 30-45 (or more days) to get approved and fund.
You will need to provide stacks of paperwork: bank statements, tax history, corporate documents, etc.
Sometimes, upfront fees can add to the cost and interest rate of hard money loans.
Underwriting requirements are very strict.
You usually need to put more equity (cash) into the property to close.
These lenders generally will not lend on a distressed property.

So, when should you consider, or not consider, a hard money loan?
If time is of the essence and a quick close is needed, use hard money.
If you already own multiple real estate assets, your only option may be hard money.
If you are acquiring a distressed property, use hard money.

A hard money loan should be able to fully address your financing needs and buy you time until you can get more capital.

At Murk Investments Corp., we provide business purpose loans secured by real property. We have the most competitive rates in the area, with no junk fees. We collaborate with you to find the best solutions. We will let you know if a hard money loan is right for your specific financial needs.

If you want to learn more about hard money loans or what types of hard loans we offer, call 760-453-0409 or visit our hard money lender contact page. We look forward to speaking with you! Murk Investments Corp. Is based in San Diego.

Disclaimer: 
This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our site constitutes a solicitation, recommendation, endorsement, or offer by Murk Investments Corp. or any third party service provider to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
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