Differences between WSF real estate hard money loan and bank loan:
Types of Hard Money Loans
Fix and Flip or Rehab Loan:
If you are eyeing a great deal on a distressed property that you want to renovate then “flip” within a 6-12 month timeframe, a fix and flip or rehab loan is probably the right loan for you. A lump sum is usually paid at closing to purchase or refinance the property, with the rest of the loan paid as you reach construction milestones. Ready to fix and flip? Learn more or apply here.
Have you identified a real estate investment opportunity but don’t have enough cash for closing? An acquisition loan helps the savvy investor buy a property, whether you plan to immediately resell it, renovate and flip it or develop it. Fast money will help you get the deal! Learn more or apply here.
Are you cash-strapped between projects, or need funds to snap up another deal before it gets away? Short-term bridge loans can “bridge the gap” and help you purchase another property or even a business by leveraging (non-owner occupied) real estate you already own. Tap into your property equity to expand your business with a bridge loan. Learn more or apply here.
Do you need financing to build a new home or commercial property? Construction loans are most often used for new construction projects and their terms are generally the longest of our short-terms loans, allowing you time to finish the project. Let us help you get your project started. Learn more or apply here.
Development and Loan:
Land and development loans are used by developers to buy raw land and then perform “horizontal” site improvements such as subdividing, leveling and installing utilities. Land developers most commonly sell the developed land to builders, but can convert to a construction loan and build themselves. Learn more or apply here.