Is it possible to get a home equity loan with a property purchased by hard money lender?

Aug 30, 2009 in Hard Money Loans

I was just wondering, since most hard money lenders lend up to 70% ARV, could their be more equity in the property to pull out if needed in that situation? thanks for any input.

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3 comments

Alec on August 30, 2009 at 10:28 pm

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knowitall on August 30, 2009 at 10:28 pm

Are you willing to pay around 16% interest?
Nathaniel on August 30, 2009 at 10:28 pm

Many homeowners apply for home equity loan for a variety of reasons. While some want to utilize the money to get rid of unmanageable debt, others want to add value to their existing home by restructuring and repairing. Whatever may be the reason, the home equity loan provides a homeowner the quickest and easiest means get extra cash to meet unavoidable expenses.In many cases, lenders are too willing to offer you home equity loan for the simple reason that the loan is secured by your property.

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The market is flooded with so many loan products from lending institutions that offer you excellent terms and conditions and leave no stone unturned to publicize their schemes on televisions and print All this may leave you feeling baffled and confused about which home equity loan product to pick. Before choosing which lending institution to go with, make sure to do some research. Shop online to obtain home equity loan quotes from different financial companies.

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