Hard money loans in Fairfax, VA are typically used by local commercial real estate investors to bridge gaps in financing on property deals. Most commonly, local CRE investors use hard money loans in Fairfax for fix and flip projects, or to close on rental properties while larger financing is still being processed.
The Benefits Of Hard Money Loans In Fairfax, VA
Purchasing commercial properties is a very time-sensitive business. Larger loans can take time to process, which can cause commercial real estate investors to miss out on a number of potentially lucrative opportunities. Hard money loans in Fairfax can be arranged quickly and customized to meet the immediate expenses of your transaction. Whether you need capital for acquisitions, getting permits for construction and renovation, or even staging a completed project, hard money loans in Fairfax, VA can cover your costs. Since hard money loans are based around a property’s after repair value (ARV), the amount of financing is more than adequate to meet the more immediate expenses on your next project.
No Prepayment Penalties
One of the biggest advantages to hard money loans in Fairfax, VA is that there are no prepayment penalties. With traditional bank loans, if the borrower tries to pay off the balance ahead of the terms, prepayment penalties are triggered. The penalties are very cost prohibitive, and are designed to keep commercial real estate investors beholden to the bank, so that the institution can maximize its return through interest. By using hard money loans in Fairfax, VA, local commercial real estate investors and property developers do not have to worry about prepayment penalties, because there are none. In fact, savvy commercial real estate investors sometimes figure the amount of their hard money loans into the larger financing, so they can pay off the balance immediately when the funds are disbursed.
Improving Fairfax, VA One Property At A Time
Hard money loans in Fairfax, VA allow commercial real estate investors to purchase and improve properties. By extension, those renovated properties bring in new homeowners and tenants, who in turn inject capital into the local economy, and uplift the neighborhoods in and around Fairfax, VA.
At Abel Commercial Funding, we provide the best hard money loans in Fairfax, VA as well as a wide range of affordable and flexible solutions for commercial real estate investors. Contact our offices today to learn more.