For real estate investors looking to demolish and rebuild an existing structure or start new construction, hard money construction loans offer a quick and effective financing solution. These loans, typically short-term (under 12 months), can be approved and funded in just a few days, unlike traditional bank loans.
Why Hard Money Construction Loans Are So Fast
Asset-Focused Lending
The speed of hard money construction loans is due to their asset-based nature. Traditional bank loans often involve a lengthy approval process that scrutinizes the borrower’s credit history and financial background. In contrast, hard money lenders prioritize the after-repair value (ARV) of the property and the borrower’s previous success with similar projects. This focus allows for faster approval and funding.
Streamlined Approval Process
Banks can take weeks or even months to approve a construction loan because of their rigorous requirements. Hard money lenders simplify this process by concentrating on the property’s potential value and the borrower’s track record. This approach reduces the time needed for decision-making and allows for quicker access to funds.
Loan Ranger Capital’s Quick Funding Solutions
Loan Ranger Capital specializes in providing fast funding for single-family and multi-unit construction projects through hard money loans. Our efficient process ensures that loans are approved and funded in a matter of days.
Highlights of Our Loan Program
- Short-Term Loans: Typically between 6 to 12 months.
- Interest on Used Funds: Borrowers pay interest only on the funds they use.
- No Early Payoff Penalties: Borrowers can repay early without additional fees.
- Flexible Loan Amounts: Starting at $50,000, with no upper limit.
Proven Success
Since 2015, Loan Ranger Capital has provided over $5 billion in capital to real estate investors. Of this, more than $2 billion has been used for tear-down/rebuild and ground-up construction projects. Our fast funding process has enabled many investors to quickly begin their projects and maximize their investments.
How to Secure Quick Funding
Simple Online Application
Getting a construction loan from Loan Ranger Capital is quick and easy. Apply for a fast hard money loan online in under a minute and complete the property information in about 5 minutes.
Rapid Approval
Our streamlined process allows for borrower approval typically within 24 to 48 hours. By focusing on the ARV of the property and the borrower’s experience, we can expedite the approval process.
Fast Hard Money Disbursement
Once approved, loans are funded in just 5 to 7 days, enabling investors to promptly move forward with their construction projects. This speed is critical for capitalizing on opportunities and starting projects without delay.
Conclusion
Fast hard money construction loans offer a rapid and flexible financing option for real estate investors. With an asset-based approval process and streamlined application, these loans can be approved and funded in just a few days. For more information on how Loan Ranger Capital can assist you in securing quick funding for your next construction project, visit our website and apply for a loan today.