5 Questions to Answer Before You Apply for Hard Money
Private lending offers a variety of options that are not available through banks and credit unions. Hard money is one of them. Hard money loans are available to people whose borrowing needs do not fit traditional bank and credit union criteria. Think of it as a way of borrowing outside the box.
Borrowing money is not something to be taken lightly. The more you borrow, the more serious your financial commitment. So it pays to really think about what you're doing before you do it. Applying for a hard money loan is no exception to this rule.
Actium Partners is a hard money lender based in Salt Lake City, UT. They make loans in Utah, Colorado, and Idaho. They recommend asking, and answering, the following five questions before applying for a hard money loan:
1. What is my immediate fina...