The well establishment of hard money lenders NJ came as a direct response to the densely populated but flourishing state. With the second highest median income of its population, there is enough money for the setting up of a very large number of businesses and industries in the state. Here people risk taking loans easily as NJ is an affluent state, with third highest per capita income. Paying back the money lenders usually comes from the property income and or the sale of the property . Hard money lenders in this commercially prosperous state make it easy to receive loans up to $20 million.

The hard money lenders NJ have a field day, with the people willing to offer large real estate as collateral and accepting as little as 65% of their total value for the property at stake. Immersed in deep sense of urgency to get places, the population cannot wait for the long and intricate procedures followed by the banks before parting with the money. Also, the banks require the borrower to complete complicated documentation which is quite a bothersome task. Hence people in need of large sums of money quickly turn to hard money lenders NJ and forge ahead in their undertakings. A wide variety of hard money loans can be procured like, commercial, residential or construction loans.

Borrowing hard money never got easier. The loan to Value (LTV) limit is anywhere between 50% and 65%. The income, previous credit status of the borrower or his history of bankruptcy are never given any consideration. The interest rate charged the hard money lenders is usually 9-15% and the deal can be finalized within 5 to 7 days. Hard money lenders NJ offer a large flexibility of short term or long term returning options. Payments are purely interest based with options for payment deferrals, of course for a fee. The money lenders in New Jersey give loans in LLC or Corporate names only and for business purposes.  The only anchorage is the value of the assets and the equity in the assets. With tenacious approach to money lending, the lenders are ready to brave the challenges of the risks involved and serve the people with true dedication.

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