How To Decide On A Hard Money Lender | Riverdale Funding

How To Decide On A Hard Money Lender

Oct 05, 2016


There are many real estate opportunities out there for people who have the know-how and ability to take advantage of them. For real estate investors who are in a position to buy properties and make necessary improvements, these properties can become a valuable addition to their real estate holdings. But first, you’ll have to buy the property, and quickly. For many investors, this means finding a hard money lender.


Why Use A Hard Money Lender For Your Commercial Loan

While many automatically connect a “loan” with going to a “bank,” there are times when going to a bank for a commercial loan is not the best option. Not only do banks often require good credit, but they can also take a long time to approve a loan (if they even approve the loan at all). A hard money lender, on the other hand, will look at the overall merits of a loan request in their decision to provide financing. This makes the process much simpler, and it give borrowers with a less-than-perfect background the ability to get the financing they need.

Not only does a commercial hard money lender not base the decision to lend solely on a borrower's credit, but they typically don’t require the extensive documentation of income, tax records, and more in order to get the process going. In fact, lenders like Riverdale Funding, actually accept all credit history and do not require financials to be provided at all. 


Where To Look

When you’re looking for a hard money lender, it’s important not to limit your search to lenders that are just “in the neighborhood.” Commercial lenders can be found all over the country, and you can find one that fits with your project no matter where you live, to secure a hard money loan.

At Riverdale Funding, we lend funds from our own portfolio; we do not broker our loans.  As a  direct commercial hard money lender, we have the freedom and flexibility to tailor our loans to the unique financial needs of our borrowers. 


Commercial Real Estate Mortgage For Many Investment Scenarios

Real estate can be used for many different purposes, and when it’s used efficiently, it can be very valuable, which is one of the things that makes Riverdale Funding, LLC a good fit.

We issue loans for purchase or refinance commercial properties such as:

  • Non-owner occupied 1-4 family properties owned by an LLC or corporation
  • Properties used for retail businesses
  • Industrial real estate
  • Multi-family units designed for at least five households
  • As well as other types of commercial Real-Estate

For these situations, you need a good solid loan, and our loans are typically between $250K to $5 million, and loan-to-value (LTV) up to 65%. Loan terms are made for 1-3 year terms, interest only, giving you an opportunity to see a profit on your investment, and pay your loan back quickly.


Contact Riverdale Funding For A Hard Money Loan

If you’re considering a hard money loan for real estate, contact Riverdale Funding, LLC. We are a leading hard money lender with over 35 years’ experience.

Call us at 888-368-4983 or apply online.