Oatfield, OR hard money lenders have been in the business of lending in the state of Oregon, for years. Oatfield is a city with a population of roughly 16,000 people, and a population density of roughly 3,700 per square mile. Oatfield is a part of the county of Clackamas.
Borrowers looking to get ahead with a loan, will face an uphill battle, if they have anything less than a stellar credit score. This is why it’s important for borrowers to realize that there are options to the conventional set of lenders, which most people are familiar with, those at the big banks in the area, as well as the local independent credit unions. There are, for example, what are called Oatfield, OR hard money lenders. These lenders focus on the segment of borrowers that are having a hard time getting approved for a loan.
They’re doing this in a way that’s really geared toward borrowers that not only have bad credit, but in some cases, are even facing foreclosure. These lenders are able to set up what are called Oatfield hard money loans. These are loans that require, as their cornerstone, the borrower to put up real estate, or what’s referred to as a hard asset, as collateral to the loan arrangements. These hard money lenders in Oatfield will ask about real estate in their application process, and interview the borrower about the details of the real estate. The real estate will act as security to the commercial property loan that’s put together for them.