A better way to get a construction loan in California – Hard money loans.
Getting a construction loan in California in the mainstream market is quite simple – All you need to do is plow through the loan application obstacle course, put up with the bureaucracy and marvel at the fabulous new lending procedures which seem to grow like mushrooms every time you take out a loan. It’s almost as much fun as a coroner’s report.
Strangely, California borrowers are looking for other options. A lending process which isn’t a thinly disguised form of slow torture seems to be preferred. Interestingly, and somewhat ironically, a traditional form of lending, known as hard money lending, is very popular these days. Hard money lending in California is basically borrowing from private lenders against assets as security.
Sounds pretty simple? It is. It’s also a very good way of obtaining a construction loan when you need one, without the rigmarole of the credit market. The difference is that this is private money lending. Private money lenders are business people; they are, in fact, loan experts. This is their business, and they do business very efficiently indeed.
A case in point is a company called California Private Lenders. This is one of the major league private money lenders. They do everything by the book in terms of formal loan applications, and they can still turn around a loan application in under 48 hours. Loan terms are extremely straightforward and easy to manage. All you need to do is repay the loan according to the loan terms. It can’t really get a lot simpler than that.
Not very surprisingly under these circumstances, hard money construction loans are becoming extremely popular in California. Commercial borrowers like this type of lending because it’s so efficient. Residential borrowers like it simply because it is so straightforward.
This company operates throughout California. If you’re looking for a construction loan in Los Angeles, check them out. Visit their website here at http://www.cplenders.com/ and speak directly to the experts about your needs. Expect pro standard advice, super-fast service, and a level of expertise on tap which is invaluable when you’re borrowing money. Good option? Yes.
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