Real estate investing can be profitable. However, you cannot easily purchase a property without cash. Hence, a lot of real estate investors in Los Angeles are now using the services of a mortgage direct lender.
Investing in a Property Using Mortgage Direct Lender Services
When it comes to financing your dream home, you may immediately think of banks to fund your project. It is true that banks are well-established and well-funded.
They can give you the money that you need to buy the house. Unfortunately, banks tend to give their clients a hard time before they will receive the money.
But not with a direct lender, like US Direct Lender. We offer our borrowers a no doc loan, which is especially beneficial for those who value their privacy or self-employed individuals.
When you are looking to buy a house, you need to act quickly. It is especially true if the house you want to purchase is highly marketable. That means, many investors are also eyeing for it. Thus, must secure the money required before another investor buys it.
But how can you act quickly when a bank will require you to submit several forms and wait for days or even a month? A mortgage direct lender is quite different. It offers more flexibility to the borrower. As a result, you will get your money faster so that you can buy that property immediately.
As a direct money lender, we can quickly decide whether to approve your loan or not. If your loan is approved, you can get your money within 48 hours. Plus, we do not ask for more paperwork.
Investing in a Fixer-Upper
Banks do not like to approve loans if you are going to use it to purchase a house that requires a lot of repairs. They are most likely to turn down your application.
The reason for this is that banks consider such property as risky. Even if the property’s value is likely to increase after the repairs, banks will not take such risk.
However, a direct lender considers your request because it sees the property’s value the way you see it. At US Direct Lender, we understand the potential of a risky house. After fixing it, it can be resold at a significant profit.
The collateral of your loan increases in value as you enhance the house. In that case, it is still a good investment in the long run.
If you are worried about your FICO score, do not be as direct lenders do not take into account such score. At US Direct Lender, we view the full picture of every situation, instead of just looking at the paper and evaluating a score.
However, not all direct lenders in the US are created equal. Some have hidden costs that will only increase the interest rates to the point that you can no longer repay them.
But it is not the case with US Direct Lender. As a reputable mortgage direct lender in Los Angeles, we only offer competitive rates with no hidden charges. Contact us today for a free consultation: (626) 460-8900