In contrast to conventional loans, which are typically provided by banks and other traditional financial institutions, residential hard money loans are secured by real estate and funded by private investors or companies. While conventional loans often require extensive documentation, strict credit score criteria, and lengthy approval processes, hard money loans offer a more flexible and expedited alternative. Union Home Loan specializes in these private, asset-based loans, making them an ideal option for borrowers who need quick access to capital.
BAD CREDIT IS OK!
Union Home Loan stands out in the industry by supporting borrowers with poor credit or insufficient credit history – which typically makes a conventional loan difficult to obtain. This is because Union Home Loan focuses on the amount of equity that the borrower has in the subject property – NOT the borrower’s credit and payment history.
DIRECT LENDING AND FAST TURNAROUND
As a direct lender, Union Home Loan makes all funding decisions in-house, without relying on outside approval. This streamlined process allows for greater control and quicker turnaround times, providing borrowers with the confidence and certainty they need in a lender. Once approved, borrowers can expect funding in 10 days or less, ensuring timely access to the necessary funds.
DIVERSE LOAN PROGRAMS TO MEET YOUR NEEDS
Union Home Loan offers a variety of residential hard money loans to cater to different financial needs, including:
- BRIDGE LOANS: A bridge loan is a short-term loan used until a person or company secures permanent financing or pays an existing obligation. It allows the borrower to meet current obligations by providing immediate cash flow.
- PURCHASE LOANS: A purchase loan is where the borrower puts down a down payment (i.e 65%) and then obtains a hard money loan for the additional 35% to purchase a property.
- FIX & FLIP LOANS: Fix & Flip loans allow the investor to borrow funds from a hard money lender with short term financing in order to renovate the property and resell it for a profit (also known as house flipping).
- REFINANCE (REFI) LOANS: Refinance loans are when the terms of an existing loan, such as interest rates, payment schedules, or other terms, are revised.
- CASH OUT REFI LOANS: A cash-out refinance turns your home’s equity into cash by replacing your current mortgage with a new, larger mortgage – which includes cash in your pocket.
- ESTATE LOANS: An estate loan allows the heir to quickly borrow against real estate within the estate and receive funds to satisfy various immediate obligations of the estate.
- BAIL OUT LOANS: A Foreclosure Bailout Loan is a mortgage loan that helps prevent a foreclosure from occurring on a property. It is typically used in emergencies in which a property owner needs their debt burden refinanced immediately to not lose their property.
A LEGACY OF SUCCESS
With over three decades of experience and more than $650 million in funded loans, Union Home Loan has solidified its position as a trusted and dependable private lender in California. The company’s commitment to personalized service, flexible lending criteria, and rapid funding has made it a preferred choice for countless borrowers.
ABOUT UNION HOME LOAN
Union Home Loan is a premier private lender specializing in residential hard money loans throughout California. Established in 1991, the company has funded over $650 million in loans, offering a variety of financial solutions, including bridge loans, purchase loans, fix & flip loans, refinance loans, cash out refi loans, estate loans, and bail out loans. With a focus on flexibility, speed, and in-house decision-making, Union Home Loan provides unparalleled service to borrowers with diverse financial needs.
Media Contact
Michael Stewart, Union Home Loan, Inc., 1 8182230000, [email protected], https://www.unionhomeloan.com/
SOURCE Union Home Loan, Inc.
