Hotel Hard Money Loans
Having a hotel or motel in the proper location can be a lucrative investment. Perhaps, you need one to sell it for profit or you want to upgrade the one you have. Then, a hotel hard money loan may be what you need to pay for that upgrade to your property or purchase one for sale.
What is hard money loan for hotel?
Hard money loan for hotel is a capital source offered by private lenders to individual who need money fast to purchase or refinance a hotel. Fast funding and flexible underwriting criteria make this loan popular among real-estate investors.
Like standard hard funds loan, this bridge loan use hotel or motel investor is interested in purchasing as collateral. The lender estimates the loan-to-value ratio to decide what percentage of the hotel or motel’s property value will be offered for the hard money hotel and motel loan amount. Make sure the loan-to-value ratio is low to get approval for your loan.
Finding a hotel loan can be a challenging and time-consuming process. So, it’s better to contact Hard Money Loans to get quick loans for a hotel and a motel. As a private money lender, we can underwrite your hotel or motel loan fast and get a pre-approval letter within 24 hours and fund deal within about 5-7 days.
What are the benefits of a hotel and a motel financing for real-estate investors?
Instead of credit, the value of the property (investors are interested in purchasing) is used to determine eligibility for receiving the loan. Another benefit is that hard money hotel and motel loan procedure is faster than the traditional loan process. What’s more, there is no prepayment penalty whilst the terms are short and the interest rates are high.
Get in touch with Hard Money Loans for taking out a quick multi-family bridge loan.
Hard Money Loan is a leading multi-family bridge investor. Unlike most multi-family hard money lenders who may require various documents for the lending loan, we only require vital information like current lien holders, property value, your ability to pay back the loan and equity.
If you need money fast for investing in multi-family real-estate or cannot qualify with traditional lenders, contact us at +1 (310) 666-8884.
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