Severn, MD hard money lenders have been working in this city pretty much since the municipality’s founding. It’s a part of the county of Anne Arundel. The city has a population of about 35,000, and a population density of 2,500 people per square mile. The city’s situated in the central region of the state.
Severn, MD hard money lenders are able to do a good thing in the state of Maryland. They’re able to provide to borrowers there a way to take out a loan, despite having a really low credit score. The way that these Severn hard money lenders are able to do this is similar to the way that secured credit card issuers are able to do extend lines of credit to their borrowers. With secured card issuers, what you have is a situation in which the borrower has a poor credit history, but needs to take out a line of credit.
In order for the card issuer to extend to him that line of credit, he has to require that the borrower secure that loan up front (with a funds transfer to the card company). With hard money lenders in Severn, the borrower’s going to have to do the same thing. Only, with these lenders, they’ll really only take one type of collateral, to be put forward toward securing the loan, and that’s real estate. Without real estate, it will be very hard to find a lender that will be willing to lend to you, if you have a really low credit score. That’s really the only requirement, and the largest variable when it comes to hard money lenders in Maryland.