top of page
  • Writer's picturePreston Morris

Louisiana Private Money Lenders - Hard Money Lenders in Louisiana

Louisiana Private Money Lenders

The experts at Curbie & Bessie Capital understand that you’re not just a borrower – you’re a partner. Whether you are new or experienced with real estate investments, if you don’t want to part with a considerable amount of cash up front or have your loan to be determined by your credit score or tax returns, then this is where a hard money lender in Louisiana can help.

Hard Money Lenders in Louisiana

There is a vast array of hard money lenders New Orleans, Louisiana, but Curbie & Bessie Capital brings more than five decades of experience to your next real estate project. Through a hard money loan with Tidal Loans, you won’t need to worry about your credit or put a large amount of money down upfront. Instead, Tidal Loans will assist you with each step of the loan process quickly and simply to make sure you get your funds quickly and easily to begin your Louisiana investment venture.

What are Hard Money Rental Loans in Louisiana?

A hard money loan is a form of short-term lending that is backed by the property, not your creditworthiness. Instead of focusing on your credit score, Curbie & Bessie Capital focuses on your property’s after repair value. This value is essentially your asset that is then used to estimate what the property is worth. The term “hard” money means your lender is underwriting the loan on this hard asset – your property. As a borrower, you will not need to worry about putting a large amount of money down upfront as you would in a traditional loan you may receive from a Louisiana bank.

What are other benefits of a hard loan in Louisiana? When you complete a hard money loan with Curbie & Bessie Capital, they tend to close much faster than traditional loans, and you won’t need to dig up your tax returns or deal with other banking issues as you would if your credit was on the line. Have you already found a lucrative real estate option in Louisiana and want to close quickly? If the answer is yes, then a hard money loan may be perfect because of its main benefit – it is convenient.

Some investors have trouble getting funds because they have a large number of outstanding loans, but Curbie & Bessie Capital can help leverage these real estate investments with a hard money loan. And, if you have already been turned down by a Louisiana bank because many conventional banks shy away from rehabilitation projects or properties that may be distressed, a hard money lender like Curbie & Bessie Capital will provide 100% of the purchase and repair cost.

How much do you have to put down on a hard money loan?

As for down payment, 20 percent to 30 percent of the loan amount is required. However, some hard money providers may require 10 percent down payment if you are an experienced house flipper. Most hard money lenders follow a lower loan-to-value (LTV) ratio, which is 60 percent to 80 percent.

Hard Money Closing Costs

Based on the specifics of the loan and the lender, the origination may be anywhere between 1% and 5% of the total loan. But why are they higher? Well, hard money lenders are in the business of creating and giving loans quickly and with a higher advance rate.

Do Banks Offer Hard Money Loans?

No. Traditional financial institutions like banks and credit unions do not offer hard money lending. Hard money loans come from private lenders and individual investors.

Do Hard Money loans show up on credit?

Most hard money loans, such as fix and flip loans, will not show up on your credit report. However, you should keep in mind that this is not always the case, and you should discuss the specifics of your loan with your lender. Either way, the loan will typically appear on a background check or asset search.

Tips for Choosing the Right Hard Money Lender

  1. Choose a Firm that Specializes in Hard Money Lending. ...

  2. Select a Local Investment Property Lender. ...

  3. Insist on Transparency. ...

  4. Know Your Hard Money Needs. ...

  5. Lender vs. ...

  6. How Fast Do You Need Funding?

17 views0 comments
bottom of page