Monthly Archives May 2021

What To Know About A Hard Money Loan?

Hard money loans are types of financing that involve a borrower using the physical property as loan collateral to receive a loan. You can receive such a loan from private investors and non-bank financial institutions. Hard money lenders want to have their principal loan amount, including the interest earned, within 1-5years. That’s why they are considered short-term loans. Below are reasons why you should go for a hard money loan. 


Hard money agreements are relatively flexible compared to traditional loan agreements. Lenders are never concerned about the standardized underwriting process. They focus on evaluating each contract individually. When repaying the loan, you might need to consider borrowing from lenders willing to talk about repayment schedules. Such a lender may decide to extend the loan repayment time, unlike when you go for a large corporation with strict policies. 


Here, the lender is focusing on the collateral; closing the deal is quicker than that of traditional loans. The lender doesn’t spend time analyzing and assessing your loan application, verifying your income, and going through bank statements. Once you develop a relationship with the lender, the loan approval process is quick, helping you complete the process within no time, which can’t work with other financial lending institutions. 


Again, all that the lender wants are collateral. For example, when you are purchasing an investment property, your lender will give you an amount equivalent to the property’s worth. When you have a foreclosure, or your credit report reads negatively, that is less important to the hard money loan lenders since they don’t look at your credit. 

It is important to understand that most hard money lenders have a relatively low loan-to-value ratio (LTV ratios). In most cases, their maximum LTV ratio ranges between 50% and 70%, which means that you need assets that qualify for your intended hard money.

Use These 3 Factors To Choose Your Next Cargo Trailer

When it comes to finding the best trailer to haul your boats, jet skis, or other recreational vehicles, you have to consider a few different factors. To ensure that you have the safest trip possible, keep these three factors in mind.

Type of Vehicle

If you want to tow a boat or other large vehicle, your personal vehicle has to have the capability to tow the cargo and the trailer. You should review your vehicle’s capabilities in advance to make sure that you have a compatible hitch system. Make sure to double-check before purchasing unless you are buying a trailer from your vehicle’s manufacturer. You can look up most vehicle’s tow ratings. This includes the size, maximum load they can carry and the maximum trailer weight they can carry.

Type of Cargo

Finding the best cargo trailers Delaware has to offer is easier when you know the specifics of the type of cargo you plan to carry. For example, if you have a boat that you want to carry, you would consider the length of the boat, its weight, and how safe it would be on a variety of different trailers.

Some people only use the trailer to transport, whereas others may use trailers to store their vehicles when not in use. The type of cargo, how you plan to use it and the weight are going to be factors in how you find the best trailer.

Type of Budget

Boat trailers range in price. You can find one as affordable as $600 or as expensive as $8,000. The difference is in how much the trailer can carry, the type of material used and the design. Trailers designed to carry heavier loads with higher-quality materials tend to cost more.

There are trailers that can fit nearly any type of boat or recreational vehicle. Finding the right one depends on how much information you have about the type of cargo you want to tow and the vehicle that you plan to drive.