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When one begins their search for a hard money lender they tend to start by trying to find lenders that are nearest to them or the property they are investing in. It's not uncommon for real estate investors to take on a project that is far from where they are located. It may be down the block from where you live, in another State, or even across the country. This can complicate matters when trying to pick a hard money lender that is a good fit for you. Let's first evaluate whether location is even a worthwhile criteria for your lender search.

Lender Location vs. Locations Serviced

There is an obvious difference between where a lender is located and which locations the lender services. It's very common for a hard money lender to be located in one State, but offer loans in multiple States. Some lenders even offer loans across the entire country. While you must use a lender that can service loans in the State where your property is located, you are free to use a lender that is located in a different State.

Some lenders have offices in multiple States as well. Before choosing a lender, it's important to get a full understanding for where they conduct their business and where all of their locations are.

When viewing our hard money lender database, you can filter for State, but know that this filter is for determining the State being serviced and not the lender's actual location. If you want that information, you click on their profile to view their office address.

Advantages of Using a Hard Money Lender Near You

Doing business with a local lender has the same advantages of working with any local business. It should be easy to coordinate face-to-face meetings with a local lender compared to one that is outside of the State. Since trust and relationships are a big part of hard money lending, having a local lender means you'll have a better chance at being able to develop a solid, long-term relationship. A lender that is located near you may also have a better knowledge of the local real estate market and can better evaluate the deals that you are offering.

Disadvantages of Using a Hard Money Lender Near You

The only potential disadvantage of using a hard money lender near you is that you may be missing out on better offers from lenders that are located elsewhere. There are thousands of hard money lenders in this country all eager to offer you competitive terms on a loan for your real estate investment. Ignoring those options can cost you tens of thousands of dollars in the long-run. It's recommended to get as many offers as you can then evaluate whether or not location is worth any potential extra cost.

How do I Find a Hard Money Lender Near Me?

The easiest way to find lenders both near you and that are a fit for the investment you are looking to make is to let us do it for you. We have a hard money lender database of almost 1,000 lenders and our system automatically matches your request to lenders that are a match for exactly the type of loan you are looking for. After submitting a quick application, which only takes 1-2 minutes, lenders both near and far will present you with loan offers. Using that information, you can decide if you would rather work with a lender that is near you or located elsewhere.

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