Before you start an investment venture into real estate or purchase a property, you need to know about available real estate loans. In the past, most buyers went to banks to get conventional loans for real estate purchases. Today, there are many more options for buyers and investors. Here is a selection of the type of loans out there for real estate.
Investment Property Loans
If you’re an aspiring real estate investor, you could apply for an investment property loan or a fix and flip loan. There are many residential bridge loan lenders California who specialize in helping investors secure funding for big project properties.
Another type of loan is the estate loan. Probate loans are used when a property is inherited and money is needed to either buy out another heir or settle the estate.
Cash Out Refinance Loans
Want to take advantage of low interest rates and potentially get cash out? Consider getting a cash out refinance loan for your primary residence. This way, you get a large sum of cash to pay down debt or make a big purchase.
Construction and Land Loans
Next, there are construction loans and land loans for certain types of real estate situations. If you have a large remodeling project on the horizon, you may qualify for a construction loan to finance the work. Purchasing land is another type of real estate transaction.
Hard money lenders also specialize in purchase loans for residential and commercial property. Some buyers find more favorable terms from these type of lenders and avoid the banks or other finance companies to get a better rate.
Want to know how to start the application process for any type of real estate loan? Find out more with this link from North Coast Financial. Here, you’ll get a quick and easy application process and finally get closer to your real estate goals.