If you have difficulty documenting your income because you are self-employed in Las Vegas, Nevada take a look at a self employed mortgage loan option for qualified applicants. Private Lending Group created an online marketplace so self-employed borrowers like you could get financing easier.

We offer self-employed and independent contractors stated income refinance loans, investor mortgages. If you own your own business, or you are a 1099 contracted worker, then Self employed mortgage loan will likely meet your financing needs. If you do not want to document your income, or you would prefer to supply the lenders underwriter bank statements rather than pay-stubs, then a reduced doc feature would benefit your mortgage loan submission. Getting a Self employed mortgage loan makes a lot of sense if you are self-employed or if you tax returns are more complex because of multiple revenue streams.     To apply for a Self employed mortgage loan click here.

Today’s real estate investors have found purchase rehab loans the answer to their investing needs. Purchase rehab loans are a combination loan. Part one is used to purchase the investment property, and part two is used to advance monies for needed repairs.

Many times, real estate investors need funds after closing to updated the kitchen and baths. Other times the property is just to small, and would be better used as a rental or flip if there were a more bedrooms, additional closets or storage added.

Our response to the market place in the Las Vegas area, we have our Purchase Rehab Loans program. You can purchase an investment PLUS add the cost of improvements to the loan.

Here is how it works, after you find an investment property to purchase. you figure out how much work the property needs, you submit this construction schedule and estimate with your loan request.

On the day of closing, the seller gets their agreed to sales price and the additional funds are put in a construction account for the investor to complete improvements. Draws are made as the work progresses.

An appraisal is completed based on the ‘subject to’ completion of the work, so that you know the true value. Remember, some improvements will only bring a home up to standard value, not increase the value.

A contingency factor of 10% is allowed in the construction costs and put into the transaction. This can either be paid by you at closing or rolled into the construction portion of the loan.

The purchase rehab loans is an Interest Only payment at the closing of the loan and during the construction phase of the project.

Once the work is completed, the purchase rehab loan is refinanced or modified to the final end loan. This could be a 30 Yr Fixed rate loan, a 15 Yr Fixed rate loan.

To apply for Purchase Rehab Loans click here

Private Money Real Estate Loans

Private money loans are an important source of funding for today’s real estate investors. Before the real estate bust it was relatively easy and inexpensive to get a loan from your local bank or mortgage broker. But those days are long gone as traditional lenders have tightened lending guidelines and in some cases, have gone out of business.

Real estate investors need funds to grow their business and help new home buyers achieve home ownership. Private money is a growing source of capital that is both affordable and readily available in most American cities like Los Angeles. Instead of seeking money from banks, savings and loans, and even hard money lenders who charge high interest rates, fees. Private money offer a alternative solution to growing your real estate business.

Where does Private Money come from?

Private money can come from all walks of life. From a neighbor or relative to a doctor, businessman or retiree that wants to earn a better return on their money then traditional investments are paying today. They may not want to own rental property or mange tenants, but are simply happy to earn 8-12 percent while most money markets and bank CD’s pay less then 3 percent.

Private money lenders are looking for investment returns that are secured by local real estate as collateral. In addition, private lenders want to be secured by a pledge of local rental properties real estate. Most private lenders want to be able to actually see the property that is securing your investment and, in fact, will most likely drive by and see the property from time to time.

Private money lending is the process of borrowing money from private lenders (not banks or financial institutions) at rates higher than banks or savings and loans and guaranteed by local real estate rentals.

Private money come in many forms

Private money lenders usually come in two forms. First mortgage lenders lend up to 70% to 75% of the purchase price and expect the real estate buyer to invest 25-30% of their own money. Second mortgage lenders are harder to fing and they usually keep the total loan to value less then 65%.

To apply for a private money loan in Los Angeles click here.

The current market situation presents asset based lenders with a multitude of opportunities and risks. As the availability of conventional bank lending shrinks in the marketplace, independent asset based lenders are seeing an uptick in residential and commercial loan applications. This development is a once-in-a-generation opportunity for private asset based lenders to develop relationships with business that was previously out of reach due to strong bank competition.

Asset Based Real Estate Loans

Asset based real estate loans are a viable solution for businesses or real estate investors that cannot provide tax returns or have a few bumps on their credit report. Commercial real estate owners with equity less then 65% loan to value are the best candidates for asset based loans.

At the same time, across the board declines in sales and earnings make many business owners that own real estate a potential asset based loan borrower. How can your business capitalize on the opportunity to borrow when banks say no?

By working with Private Lending Groups to expand and leverage your real estate assets. Business owners have a lender that uses your real estate asset as collateral instead of boxes of documents and months of underwriting your loan request.

For more information on asset based lenders contact Private Lending Groups.

How long does it take to close hard money loans?

It normally takes 7 -14 days to close a hard money loan. As soon as we have the appraisal, title insurance, and property insurance we can close the hard money loan.

To apply for for loan click here.

Private lending groups offers hard money business loans if you already have worn out all your possible financing sources from banks and traditional lenders and you still need more money to operate or expand. Since they are usually short term and must be paid within one or two years, they are also called bridge loans.

Before you sign for any hard money business loans,

When you have a flourishing business and want to expand it, then hard money loans can help you. Consider the following items.

1. Can you generate a return on investment (ROI)?
2. Do you have an exit strategy? Hard money business loans will be pain within a shorter period of time. Therefore, if you do not have a regular cash flow then it is not suitable for you.
3. What are your alternatives? When your alternative financing options are equity based, a hard money loan can enable you to take control of your business
4. What’s the impact on personal liability? Hard money loans are better compared to other financing sources with high cots.
5. Can you generate enough capital? A hard money loan is not the suitable option when it can’t cater your financing needs.

Hard Money Business Loans can be the very beneficial because they are easy to qualify for and will help you to meet your business financial goals.

To apply for hard money business loans, click here

Financing foreclosures in Las Vegas can be a challenge. Financing real estate foreclosures with purchase money mortgages is not a viable option if the borrower or the property does not qualify.

Banks will not finance properties that need major repairs, unless the loan is owner occupied and the borrower qualifies for and FHA 203k rehab purchase loan.

Investors basically have two options when purchasing major rehab foreclosed properties. Pay cash or use hard money loans.

At first it might seem that a purchase money mortgage was the same as any other financing but that’s not entirely true. For instance, in California a homeowner with a purchase money mortgage who is foreclosed cannot be sued by the lender to make up any losses on the loan. However, if the property has been refinanced there’s no longer a purchase money mortgage and so the protection for homeowners against deficiency judgments disappears. This example of purchase money protection does not apply to investors and that the rules in other states are different.

Foreclosure Loans

Is the buyer an owner-occupant or an investor? If an investor you will be required to put down more and to pay a somewhat higher rate. When financing foreclosures in Las Vegas, the rules and paperwork are simply the same as any mortgage originated.

Cash is king of course, and solves all financing foreclosures in Las Vegas problems while loans from hard money lenders helps many investors that can not receive bank loans or have enough cash themselves.