There’s no shortage of hard money lenders in Orange County promising the moon and stars to clients in the hopes of landing an account. Hard money lending is different from traditional lending, and while most hard money lenders are reputable and honest, some are only in the business looking for a quick profit regardless of the outcome of the loan. Hard money loans are a specific financial concept best applied to certain types of situations — customers must be wary of organizations presenting these loans as a one-stop solution.
Here are some things to watch out for when choosing a hard money lender:
Trust and History
Any hard money lender in Orange County should be able to provide you with a long list of satisfied clients and customer testimonials. If you’re being courted by a hard money lender who can’t prove its success and experience in the field, it’s best to walk away. Do not work with any hard money lender that doesn’t have a clearly established reputation in your area.
Honesty and Transparency
Questions posed to your potential hard money lender should be answered in a clear and precise manner. If a hard money lender dodges your questions, refuses to answer them, or indicates that they’ll be made clear at signing, you might want to find another provider. High-quality hard money lenders are upfront and honest about their financial products and the terms associated with them.
Flexibility and Efficiency
Hard money loans are often the best option for time-sensitive opportunities or unconventional lending applications. A strong hard money lender should be able to share your vision and understand why you’re seeking a loan, and should then be able to process your loan in a fast, efficient manner that ensures you don’t miss the opportunities at hand.
There’s a lot to consider when it comes to choosing the right hard money lender. PB Financial Group is a trusted and reputable lender that is here to help you succeed. For further information or inquiries please contact us at 323.935.5555 or visit http://www.calhardmoney.com/orange-county-hard-money-lenders.php.
PB Financial NMLS #357614/DRE #01522495