Financing a hotel or motel purchase can be challenging for many aspiring real estate investors, as the process of purchasing and renovating these commercial properties can be expensive and time-consuming.
Tips on Finding a Commercial Lender Offering Hard Money Loans
Not all lenders set standards for debt income ratios and FICO scores when giving out bridge loans. Hard money lenders, in particular, are guided by the viability of real estate in question during the underwriting process. They have to see whether or not your circumstances make sense before giving out a bridge loan.
Have you heard about bridge loans? What is the definition of bridge loans? How do they work? Are they costly? What are the pros and cons? Do hard money lenders offer bridge loans? We answer all of your questions.