Rhode Island Hard Money Loans
Looking for Hard Money Lenders in Rhode Island?
Real estate investors looking for a hard money lender in Rhode Island should understand why these loans are more attainable than traditional bank loans. It is important to understand what a hard money loan is and why it is so useful for certain properties.
Commercial hard money loans in RI can be used for several things. Normally these loans are for non-owner occupied properties, for projects like investment properties, property flipping as well as development projects.
Apply online for a commercial hard money loan in Rhode Island, or over the phone at 1-866-988-3146.
Qualifying for Commercial Hard Money Loans in RI
Finding funding for these projects can be tricky, making hard money lenders in RI invaluable. Another use for hard money loans may be in the foreclosed properties market. Banks will often offer repossessed properties at a discounted price. When trying to finance this type of property, traditional methods may not work. Many investors will then look to hard money lenders in Rhode Island for an optimal lending solution.
At Riverdale Funding LLC, properties that qualify for hard money loans include:
- Five family units or higher
- Retail properties
- Industrial properties
- Non-owner/investment 1-4 family properties in a corporate name
Most traditional lenders will want credit and personal information on the borrower. When an investor applies for a traditional loan, the time involved in gathering all the required documentation can really add up. Hard money loans are based on the existing real estate and not on all the other factors that traditional loans require. For all non-traditional investment opportunities, commercial hard money loans in RI can be the perfect solution.
Our Loan Terms in RI
Hard money loan terms:
- Mixed use properties loan to value up to 60%
- SISA and SIVA on investment properties
- Loan terms are 1 to 3 years
- Loan to value is 60%
- First mortgage loans
If you are looking for hard money lenders in Rhode Island to finance your next real estate investment, apply for a loan from Riverdale Funding LLC. With the second highest population density in the country, Riverdale Funding is here to support those looking to invest in the many real estate opportunities.
Get started today. Apply Online or call Riverdale Funding LLC at 1-866-988-3146.