Alternative Loan Options for Bad Credit

Sometimes life brings us to places where we would rather not be at, putting good people in situations that they never foresaw coming, and worse yet, often had no control over. This can be due to a number of reasons including divorce, displacement, job loss and even natural disaster. When circumstances like these arise, a person can quickly begin to develop a sense of dire straits – often sending them into a depressed state with very little resources or anyone to turn to. This can leave people feeling hopeless and fearful for their future. A place no person deserves to be.

Fortunately, it doesn’t have to stay this way.

There are a number of companies that can assist a person who is searching for a break and in need of a loan to help him/her get out of the mess they are in. These companies are often referred to as direct private lending companies. But what sets a direct lending company apart? And how can it help you?

Direct private lenders can adjust and customize their turnaround times with a unique and fast approach that lead to quick lending decisions – therefore maximizing your time and ability to find a loan that matches your personal and financial needs. In fact, many direct hard money lenders are able to offer a variety of loans such as investor loans, term, purchase and rate loans that can all be catered with no limitations for Commercial or Residential Properties, LLCs, Delaware Corporations, estates, and foreign nationals no matter if they are a second home, not owner occupied, or even an investment property.

Many of these companies even offer help with building toward your ultimate goals with your properties and stated and no doc programs are available for those individuals who have qualified investment properties or other non-owner-occupied properties. There are even options for properties that are still in need of construction or rehabilitation. Many of these direct lenders even have in-house appraisal teams to give you a proper and through property valuation – all included in their service packet.

This almost sounds too good to be true, doesn’t it? But the truth of the matter is, many private lenders realize that many people sometimes end up having financial troubles and can’t get access to traditional loan methods, so they step in and provide funding.

Direct hard money lenders provide equity-based lending which allows applicants to use their properties as collateral as well as using the borrower’s credit history to determine his/her record of historical payments. Some companies can even set a loan with a percentage as small as forty percent equity in their property – making it much easier to find the funding needed when in a crunch. The greatest part about this is that it allows catering APR rates to each individual client’s needs making it possible for even those in the worst of financial conditions to find a suitable loan program.

So, if you have found yourself in between a rock and a hard place when it comes to crediting issues, foreclosure, bankruptcy, default notification, hardship or divorce there are options out there to assist you. Don’t let bad credit stop you when there are good alternative loan options available apart from the standard ones. All it takes is a little research, patience, and reaching out to the professionals who can help you best.