It’s no secret that the US real estate market is booming, and home prices are expected to skyrocket in 2022. Experts hold that the real estate market is one of the best investment options for Americans in 2022.
However, many American citizens don’t have the finances to purchase property amid the rising inflation. So, what can you do to get into the real estate market? An excellent alternative is to get rental property loans.
Continue reading this blog to find more about three different types of property loans you can use to finance your rental project.
Conventional Bank Loans
If you’re looking to get traditional loan deals, banks are the way to go! However, unfortunately, banks can take an eternity to approve your loan application. This is why banks aren’t a good option for individuals looking for quick financing.
American banks have lengthy forms and stringent loan requirements that can make the application process difficult for you to navigate. Here are some documents banks may ask for with your loan application:
- Credit history
- Financial statements
- Personal record (Contact number, address, criminal record, tax returns)
Private Hard Money Loans
Want to avoid the rigorous bank loan process? It’s time to join hands with a reputable private hard money lender. Unlike conventional banks, you won’t have to fulfill a long list of loan requirements. Many private lenders use your existing property as collateral and offer a hard money rental property loan deal with exceptional lending terms.
Private Blanket Loans
Getting your hands on multiple rental properties can help you increase your wealth in 2022. However, acquiring several properties can be a burden on your pocket. Luckily, private money lenders can help you get the financing you need. You can opt for blanket loans to acquire funding for more than one property in the US.
Hard Money Loans Deals Available At Minimal Interest Rates
Can’t find reliable hard money rental loan deals? You’ve come to the right place! At Insula Capital Group, we’ve been delivering hard money loan deals to clients in the US for over thirty years.
Our team can approve your private home loan deal within twenty-four hours and deliver the financing in five days or less. Our private lending team can prepare a tailor-made home loan deal for you, with low interest rates.
So, what are you waiting for? Contact our representatives for more details about our rental hard money loans.