There are times that the next step or chapter in life presents itself but does not quite align with the funds that are necessary to take those steps. While staying out of debt is ideal, sometimes things like secured short term loans can be exactly what you need to be successful in the next stage of your progress. Investment mortgage lenders and renovation financing can be the keys that allow you the freedom to better maneuver with your available funds and get you better situated to move forward again debt free.
How can secured short term loans be helpful?
Secured short term loans are those that will be paid off in a short amount of time, usually with a house or other property or asset put up as collateral. Hard money mortgage lenders will often provide loans rather quickly, often with seven to 14 days or so, and as these loans are secured by properties with 30% to 50% equity, those lenders are well protected, making these types of loans feasible for both parties.
The goal of owning your own home
Most people dream of the day that they can walk into a house, and call it home. Owning a home is a major milestone for so many people. But when you consider that the average sale price for a house in the United States is about $186,000, it is not difficult to see why it can be a difficult goal for many to reach. Some people have to settle for a home that is not quite everything that they want it to be, and then put in time and money to transform it to the home that they have always envisioned.
This is where renovation lending could be helpful. If you are looking at buying a house that you know you will need to remodel, you could look into financing that not only helps you purchase the property, but also provides you with enough funds to get those renovations taken care of as well. Of course, you will need to provide proof of the renovation costs, so be sure to keep invoices and receipts from vendors and contractors every step of the way.
Owning a home is possible, and making it your dream home could be more attainable than you realize.