What are private money loans from private money lenders?
Private money loans are loans used to purchase or do a cash-out refinance when banks are unable to provide financing.
At 5th Avenue South Solutions, we are your private money lender for all your private money needs in New York.
We offer the private funding options you need to acquire your property and because we work differently than a bank, we’re able to offer a quick, hassle-free closing.
5th Avenue South Solutions is more than a private money lender. We also buy private mortgage liens and mortgage notes.
Developers and house flippers, and individuals use private money lenders for private money loans to fund deals because they can borrow up to 100% of your purchase price!
On the other hand, hard money lenders will frequently require you to back up your loan with real assets.
If you know you can buy a property and turn it quickly at huge profit, and you can’t get a standard mortgage, it might be one way to go.
Some investors use private money lenders for hard money loans to get into the property.
They do some quick fixes to raise the property value. Then get a new loan (based on the property’s new, improved value) from a bank to pay off the private money loans.
5th Avenue South Solutions is a private money lender. As such, we analyze private money loans on a case-to-case basis. Our private money loan approvals depend on the property’s condition and the investor’s specific requirements.
Individual investors, institutional property owners, and other clients can trust us to design financing solutions that maximize profits with a minimal cash investment.
Our qualifying process for private money loans is simple. We focus more on the property’s equity rather than the borrower’s qualifications, which is a huge advantage for you.
In most cases, an appraisal is not required. However, restrictions do apply.
Unlike most private money lenders, we close loans quickly. The entire process (from application to approval) can take less than seven days.