Havelock, NC hard money lenders are able to do a lot of good in the state of North Carolina. Havelock has a population of 22,000 people, and a population density of 1,400 people per square mile. Havelock is a part of the county of Craven.
Throughout the state, borrowers have been having a terrible time, trying to get approved for a loan. And we’re talking about folks with a decent credit score, like in the 700 range. But if you’ve got a low credit score, forget about it. The big banks won’t let you near any of their lenders. But you do have options. For folks with low credit scores, for folks that are facing foreclosure proceedings on their property, there are Havelock, NC hard money lenders. These lenders are able to get borrowers approved that don’t have very good financials. We’re talking severely distressed financial stories here. And these lenders are able to do this through what are being billed as Havelock hard money deals. These deals are loan and debt products that don’t require a high credit in order for a borrower to qualify.
Instead, the criteria that hard money lenders in Havelock look for in a borrower is whether or not the person actually owns any real estate. Part of this application process calls for real estate to be put up as collateral, as security to the debt. And so what these private mortgage lenders will do is, they’ll have the borrower list the real estate, and then they’ll come up with a number of valuations for that property, which will translate over to the size of the loan that they’ll be able to offer and present to the borrower.