For hard money loans, fast funding is 5-10 days from when a borrower requested a loan. Lenders can fund loans even faster in 2-5 days if they have the preliminary title report already done and appraisal and other documents have already been prepared in the past.
Not to lose a profitable opportunity- Fast funding is essential when you must have the money by a specific date or lose an opportunity. Sometimes you can buy with a big discount when the discount is much more significant than the loan cost it would be foolish to miss it. To avoid a default, foreclosure, or other time-sensitive events. – losing a property with equity is a significant financial setback, and it could hurt your credit for many years. A default should be avoided at all costs, and a take-out loan before the default happens may require fast funding
Lendersa® allows you to find the lenders who offer the fastest funding time for hard money loans, but we need to gather some information to accomplish this task. The most immediate funding depends on the property location, credit, Income, property type, loan amount, funding speed, LTV, and ten other factors. The most crucial aspect of fast financing is low LTV. The lower the LTV, the quicker the lenders can fund.
There could be hundreds of different "fastest funding lenders," each is genuinely providing the fastest funding time. Still, each of these lenders' programs is based on a specific combination of factors.
For example,
Lender A can fund loan the fastest for borrowers with perfect credit and LTV under 50% and only for loan amounts between $200,000 and $400,000
Lender B. can fund loan the fastest for self-employed non-owner-occupied properties for borrowers with excellent credit score for loan amount over $575,000 and under $900,000
Lender C. has the fastest funding time for borrowers who cannot prove their Income up to 60% LTV, but he charges 2 points more than other lenders and 2% higher interest.
Lender D. provides the fastest funding when the LTV is under 45% and charging the borrower 3 points more than a similar loan that can take a longer time to fund.
Solution completes a short loan request your social security is not required, and Lendersa® will produce a list of the lowest frees programs tailor-made to your qualifications and needs. Lendersa® database is being updated with loan programs from thousands of lenders. Your unique requirements will be matched in seconds against millions of possible combinations to bring you the lowest fees possible.
Are you looking for the highest LTV on Residential properties? Commercial properties? Vacant land?
Lendersa large number of hard money lenders ensure that you will find the highest possible LTV
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NMLS 1795154