Mortgage & Commercial Lending News.

Harvard University’s Joint Center for Housing Studies expects remodeling spending to reach a new peak in 2016. As a Mortgage Investor’s Corporation, we’ve funded millions of dollars in residential hard money loans for thousands of families to remodel their home; unfortunately, too often with less than desirable results.  And, it’s almost always the contractor’s fault.

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Every investor’s goal is to “buy low” and “sell high” but that’s easier said than done.

For borrowers that depend on hard money lenders to finance their dream home, the time to buy may be now. Hiring at U.S. companies accelerated in October helping to lift wages and clearing the path for the Federal Reserve to raise interest rates in December 2015.

ABILITY-TO-PAY

On January 10, 2014 the Consumer Financial Protection Bureau’s “Ability-to-Repay” law went in effect.  This law governs residential hard money loans and lenders as well as residential investment and subprime mortgage loans and lenders.

You won’t find less expensive money than the rates offered by Associated Mortgage Investors.

Ladies and Gentlemen:

NOTICE TO ALL PROSPECTIVE BORROWERS:  we can’t offer the same low interest rates as banks but we eat their lunch with the time it takes to close.  We received a loan request on a Saturday and funded it 3 days later!  If you need to close in a hurry, please contact us.

Update from The Greater Houston Partnership (GHP):

Many believe that getting a construction loan is a difficult process. In some cases, this assumption is correct; however, with the right tools and information, getting approved for a construction loan is possible. Often times it’s a matter of finding the right loan from the right lender. Hard money lenders have become prime candidates for construction financing. Even though they offer higher interest rates, the actual difference in cost is usually not detrimental to the project since they are usually be held for short periods of time; for this reason it’s imperative to have a clear exit strategy before considering a construction loan.