Hard Money Lenders Online

Orlando, FL hard money lenders offer residential hard money loans, a way of financing that banks and other traditional lenders are hesitant to get involved in. Orlando is the fifth largest city in Florida by population and the third in metropolitan Florida after Miami and Tampa. Over two million people live in the Greater Orlando metropolitan area.

Residential Orlando hard money loans are available for real estate financing, with high interest charged on the said loans. In addition, the loan to value of a property is lower compared to other types of mortgage loans. Hard money lenders in Orlando specialize in residential and/or commercial properties, and some of them deal in land estates and high equity projects.

Those who borrow from Orlando, FL hard money lenders use hard money loans as temporary bridge loans for avoiding bankruptcy and foreclosure, mortgage refinance, and acquisition of property. Though it is not highly recommended for homeowners, a hard money loan is preferred instead of allowing the bank to possess the property or declaring bankruptcy. Other people secure hard money because they need financing for renovation of residential properties before they decide to rent or sell the house. Orlando, FL hard money lenders favor borrowers who would use the loan for income-producing properties such as hotels, motels, medical institutions, shopping centers, restaurants, offices, buildings, and the like. These income-producing properties serve as the collateral for the loan, with the loan to value ranging between 50 to 75 percent of the market value of the property. For individuals who need hard money in Florida, residential hard money loans are useful and beneficial options rather then declaring a bankruptcy.