It has been common nowadays that borrower seek hard money loans for investing in real estate like having a commercial or residential property. Hard money lenders – mostly private money lenders or small companies sometimes lend money to individuals looking to invest in real estate. Montegra has been a leading hard money lender and they offer a competitive hard money loan rates in Colorado. Montegra has been adaptable to fit the needs of an unpredictable real estate industry.
Apartment Renovation Loan
Montegra offers property investors to be able to purchase residential homes and pay for any renovation needed for the apartment renovation loan program. They work with the borrower to sufficiently fund them to cover the costs of purchasing a unit and renovating the property until it is fully rented that produces income to qualify for a long term loan from a conventional lender.
Smart Buyer Loan Program
If the assessed value of the property is higher than the original contract price, Montegra offers a Smart Buyer Loan Program wherein they can used the appraised valued to settle the amount of the loan, which will be possible to refinance up to 80% of the original purchase price if the appraisal is high enough.
Montegra offers hard money acquisition loans with a different standard than the traditional lender or banks. They approve request about the acquisition of good properties with the adequate loan to value rates. Montegra swiftly respond to the request of the borrowers within 24 hours. This kind of loan is offered for borrowers that find it difficult to find a private money lender that is able and willing to lend them the money to buy an investment property.
Loans to Foreign Nationals
Foreign nationals find it difficult to acquire loans to buy residential or commercial real estate in America. Montegra has shaped a simple program that provides aid to foreign national that may want to borrow money to purchase real estate property in Colorado when other private money lenders or banks are unwilling to lend them.
Aspen Hard Money Loans
Aspen has been a great vacation spot for some families in the U.S. There are so many properties that individuals are eager to buy either for residential or commercial use. Montegra has been funding hard money loans in Aspen for the past 43 years now. They offer Cash out Loan in Aspen wherein they funded a loan for a family investment group to build a property in Starwood.
Another example is that they offer bridge loan on a commercial property in Basalt that a specific borrower wanted to redevelop a property and construct a condominium in there.
Value Added Loans
When a borrower has plans to buy a property for commercial use and make renovations to increase its value and profitability, Montegra understands their needs and goals and will work them to attain it. Some banks see this as high risk but private money lenders see an opportunity and are willing to structure them value added loan to fit the project.
You can contact Montegra to know more about all this hard money loan programs as well as the other hard money lending options that Montegra offers.