NY Hard Money Lenders NLDS Corp Call 516-526-8445
Lending Hard Money Nationwide click apply now above.
There are innumerable NY hard money lenders serving the vast metropolitan population of the state and the cities within. Being the third largest state of US has made NY the hub of brisk financial activities. This has resulted in having more money transactions than most other states. In fact, NY State can boast of a massive economy and also houses the largest stock exchange in the world. It is but natural for the people of the state to conduct thriving businesses requiring a lot of money to back them. Besides the banks, there mushroomed a vast number of money lenders to cater to the needs of conglomerates involved in the production of a wide spectrum of goods ranging from electronic item, vehicles to simple farm items needed for day-to-day living.
NY hard money lenders do a roaring business specializing in real-estate backed loans. They provide short term loans with much higher interest rates based on the value of the property being collateralized. Since they do not conform to any standardization of the banks, they are the ones who call the bids. The reason for people turning to them in the hour of their need is that NY hard money lenders can provide huge amounts of money in the shortest span of time. They are not concerned with the prospective borrower’s past credit performance, his income or his financial status. Not requiring lengthy procedures for documentation, these money lenders circumvent a number of glitches and proffer a quick turn-around time.
It is this feature that makes hard money lenders in NY a much sought after financial institution fulfilling the requisition for loans of small and huge amounts of money. They are more expensive than traditional money lender yet attract persons in need of fast, huge sums of hard cash. No doubt the hard money lenders often experience a higher default rate, but they make up for it by charging a much steeper rate of interest. The NY hard money lenders encourage the borrowers to put larger estate at stake since they pay only about 60% of the total value of the collateralized real estate property. Thus both the parties – the borrowers and the lenders remain in a “win-win” situation.
We close loans in as little as 5-7 days in many cases. Purchase, rehab (ARV) loans, cash out, commercial we are the market leader. Submit your Hard Money request to the #1 Hard Money Lenders below
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