Private money loans are a great way to finance your home in Las Vegas, Nevada, on individualized terms. Traditional loans from banks typically require a sizeable down payment and have very strict financial requirements that make it difficult for homebuyers to get the financing they need.
We are willing to work with investors who want to buy a property immediately or have less than perfect credit. If you’re looking to invest in Las Vegas real estate and want to sidestep the painfully tedious process of getting approved by the bank, NV Capital Corporation can help.
3 Must-Know Benefits Of Private Money Residential Loans
- Simple Application & Approval Process
- Short-Term Financing
- Flexible Loan Terms
1. Private Money Residential Loans Can Approve Faster Than Banks
Traditional lenders usually have much more complicated and extensive background checks compared to private lenders. When you bypass the bank, you will generally be able to acquire the property you want much faster rather than having to wait for someone to go through many years’ worth of bank statements, credit reports, and other documents.
If the housing market is at an ideal place or if there is a particular dream home you have your eye on, the shorter approval time can make all the difference in obtaining the house you want at a reasonable price.
2. Take Advantage Of Short Term Financing
The terms for private money loans are also shorter than those offered by banks. Traditional lenders typically offer strict 15 to 30-year terms that penalize you for early payments, whereas private lenders offer 12- to 60- month options. This is extremely beneficial if you do not want to be committed to a long-term loan or want the option to refinance after a few years without being penalized.
3. Private Lenders Offer Flexible Loan Terms
The most significant advantage private lenders have over banks is that they are able to offer more flexible agreements. Private lenders will evaluate each case individually and come up with a plan that works best for the borrower based on your financial needs and the value of your collateral, rather than offering a strict cookie-cutter deal as most banks do.
Private Nevada Real Estate Loans
If you’re looking for a Las Vegas private money lender, look no further than NV Capital Corporation. Our team of experienced professionals can help you get the financing you need in order to own your very own investment property in Southern Nevada. Contact us today to learn more about our services. We’re here to help you make your real estate dreams a reality!