If you have both the time and ability to qualify for a conventional loan, NWPL will always encourage you towards this path. However, there are a few reasons why many people select the private lending path for their rehab financing, fix and flip financing, or other alternative financing needs.
From refinancing to real estate purchases, our team of trusted professionals go the extra mile to ensure that every loan we issue is a win/win for our clients. For example, we welcome you to pay your loan early. The sooner you pay us off, the more successful you can be in your rehab, fix and flip, or investment. We have no intention to nickel and dime our customers with extra points or fees for pre-payment or extensions. Extension requests on performing loans as well as early payoffs are accepted with no cost.
In the end, the primary value of a Hard Money loan is the speed and ease in which you can have access to capital. If having quick access to capital allows the real estate investor to make a profitable investment, then Hard money can absolutely be a great resource. An investor’s exit strategy, (how the investor is going to pay off the loan) be a key factor in considering this loan type. In most cases, the sale of the property once a profit has been made or the refinance of the property with a conventional loan are the most common exit strategies for real-estate investor.