In the house flipping business, every person needs working capital to make it all possible. Some people have the luxury of having the necessary funds already, while others need an alternative solution.
One of the most trusted hard money lenders in Philly is Hard Money Bankers. The company has been helping many in and around Philadelphia for years now, and a good lender can make or break a house flipping business.
What makes Hard Money Bankers different?
With plenty of competition locally and nationally, Hard Money Bankers is always working on improving the customer experience overall. House flipping opportunities can come at any time, and a person needs to be extremely quick to jump on great opportunities.
Approval speed is one of the major selling points for Hard Money Bankers. They claim to have some of the fastest financing available, and their flexibility allows for different repayment options as well.
No one plan is going to fit every single customer as well. That’s why the company offers some amazing flexible financing for a tailored experience each time.
What areas are served by Hard Money Bankers?
A person can get a loan in Maryland, Virginia, Pennsylvania, Delaware, New Jersey, and Washington DC. Hard Money Bankers works very hard to ensure that they have options available for anyone pursuing property in the region. With so many smaller states in the area, it was important for them to legally have this opportunity.
They currently have their main office in Columbia, Maryland, with additional offices in Pennsylvania and Northern Virginia. This is very convenient for people who want to have a face-to-face meeting instead of dealing with everything online or over the phone.
How quickly does the company work?
It’s very hard to put a specific time on every loan, because each situation is different. However, approvals can come in as little as 1 to 2 business days. There is no other company in the area that offers something like this.
It is important to keep in mind that there are certain things out of their control that could hold the process up a bit. That would happen with any company, as some properties need additional appraisals, title work, and more.
Are there loan terms as great as they claim?
Compared to the competition, Hard Money Bankers has one of the best interest rates out there. On average, most people are going to see their interest rate in the 13% to 15% range. This is very manageable for a lot of house flippers, especially since they will not be paying interest for too long before the house is sold.
The best way to understand Hard Money Bankers, and the lending process in general, is to visit their website. They have a wealth of information available, and all the forms needed to fill out as well. If it’s doable, meeting at one of their three offices is the best way to go. People can get real tips and feedback quickly.