If you’re a professional real estate investor who’s looking to take advantage of real estate opportunities that move fast, then working with Singapore hard money lenders should be one of your top priorities.
Now, if you’ve never applied for Singapore hard money loans before, you probably have plenty of questions. Keep reading to find out discover the answers to the most frequently asked Singapore hard money loans questions…
What Are Singapore Money Lenders?
These are asset-based loans that you can get from licensed moneylender Singapore. Hard money loans in Singapore are generally only available to business owners, such as professional real estate investors. In other words, these loans are not good for regular homeowners.
What is the Maximum Loan Amount?
This is going to depend on several factors, including:
The valuation of the property you’re investing in.
The Singapore hard money lender’s policies.
The amount of money you have available for a down payment.
Some Singapore hard money lenders don’t offer jumbo loans, which are those starting around $250,000.
Can I Get Singapore Hard Money Loans for Out of State Properties?
Generally, the answer is no. One reason is because your loan is based upon the property. And that means that Singapore hard money lenders need to personally inspect the interior of the building before they can process your loan.
Can I Get Short-Term Singapore Hard Money Loans?
Yes. In fact, one of the benefits of hard money loans in Singapore is that they are short-term funding. That means you can use these loans as bridge loans, if need be. Or, you can secure the short-term loan with the intention of quickly flipping the property.