Hard Money Second Mortgage Loans

Why Get a Hard Money Second Mortgage?


Now you can locate subprime and private lenders for hard money second mortgage programs with non-standard mortgages. Talk to companies that offer hard money to consumers with poor credit scores financing solutions with non-conforming hard money second mortgage loans.

Hard Money Second Mortgage Loans and HELOCs

We began as a hard money lender from California, we are well versed on alternative home financing and underwater refinancing. Today we help consumers find hard money second mortgage loans, HELOCs and refinancing for people with bad credit after bankruptcy or foreclosure.

  • Hard Money 2nd Mortgage Loans with No Minimum Credit Scores
  • Interest Only Payments on Private Money HELOC Lines of Credit
  • Bank Statement Second Mortgage Programs

Find Private Mortgage Lenders for Poor Credit, Higher Risk, 2nd Chance and Stated Income Loan Plans

We will help you get matched with lenders offering hard money loans, non QM HELOCs and non-conforming subprime mortgages for refinancing regardless of your fico score or poor credit history. No, you have the opportunity to refinance your 1st and 2nd mortgages together for one lower payment.

How Much Do You Want to Borrow?

0

See Lenders for Terms and Conditions

Get cash out or consolidate debts, pay off collections, or save your house from foreclosure. Our hard money lenders offer the following short-term financing: Bridge Loans, Land Loans, Spec Loans, Stated Loans, Commercial Hard Money Loans and much more.

Hard-money loans are great short-term solutions when your credit score drops below 500, and lenders have rejected your loan applications. There are not too many hard money mortgage lenders that take risks on mortgages behind negative amortization loans and payment option ARM’s. Whether you live in California, New York, Illinois, Texas, Florida, or any other of the great 50 states in the United States, we can help you uncover private money loan opportunities quickly.

Evaluate hard money mortgages that may be available for people with bad credit scores that have fallen below 500. We will help you locate lenders offering sub-prime mortgages and private money loans for homeowners that have equity in their home but for one reason or another they came into difficult times and their credit has suffered. Sometimes hard money lending is needed when you have many past-due payments, collections or bankruptcies.

BD Nationwide provides a straightforward online form that can be easily completed within seconds. Enjoy the convenience of filling it out from the comfort of your home and let our team of loan professionals locate a loan that fulfills your cash requirements. Explore options such as hard money lot loans and private funding for speculative homes.

Call today to receive detailed information about hard money loan financing and private money mortgage programs. While a majority of our hard money lenders are based in California, New York, and Florida, we have the capability to connect you with private mortgage lenders nationwide to address your short-term financing needs.

Hard Money Mortgage Loan Highlights

•Gap Funding Solutions

•Fico Scores Below 500 OK

•Stated Loans for Self Employed

•Refinance your Debts & Save!

•Commercial Hard Money

•Private Money Sources

Consolidating your high rate loans and credit card debts into a second mortgage loan can save you thousands of dollars in interest each year. Refinance your existing adjustable rate equity line of credit and lock into a fixed rate loan that can lower your monthly payments. BD Nationwide offers a clear path to locate lenders for hard money second mortgage loans that are easy to qualify for if you have equity in your home. Even if you have credit scores under 500, we can help. When you shop for private mortgages online, ask for a no credit check loan.

Explore our specialized offerings for self-employed borrowers, including programs with no income verification, home improvement financing, 125% CLTV, and low FICO options. Our straightforward 2nd mortgage loan quotes make it easy for you to compare rates and find the ideal second mortgage or refinance loan from the comfort of your home. BD Nationwide can connect you with a select group of private mortgage lenders that provide hard money loans in both first and second positions for residential and commercial real estate. We extend hard money financing for owner-occupied, vacation homes, and investment properties, including short-term financing and bridge loans for various development projects in multi-zoned properties such as residential, mixed-use, and commercial.

 

Top 3 Reasons to Get a Hard Money Second Mortgage

A hard money second mortgage can be a powerful financial tool for homeowners seeking quick access to funds. Unlike traditional second mortgages, hard money loans are secured by the property and rely more on its value than the borrower’s creditworthiness. They are often used for specific purposes where speed, flexibility, or unique financial circumstances play a critical role. Here are the top three reasons to consider a hard money second mortgage.

1. Fast Access to Cash

Hard money lenders prioritize the property’s equity and value over extensive underwriting processes, allowing loans to be approved and disbursed quickly. For homeowners facing time-sensitive financial needs—such as covering emergency expenses, funding a business opportunity, or avoiding foreclosure—a hard money 2nd mortgage loan can provide much-needed liquidity in days, rather than the weeks or months traditional lenders may require.

2. Financing for Unique or Risky Properties

Traditional lenders often hesitate to approve loans for unconventional properties, such as fixer-uppers, mixed-use properties, or homes with structural issues. Hard money lenders specialize in providing funding for such situations. A hard money second mortgage is ideal for homeowners looking to leverage equity in a unique property to finance renovations, improvements, or other investments. It allows borrowers to unlock potential value in properties that might not meet conventional lending criteria.

3. Flexible Credit Requirements

Hard money lenders are less focused on credit scores and income verification compared to banks and traditional lenders. This makes them an attractive option for borrowers with poor credit, inconsistent income, or past financial setbacks like bankruptcies or foreclosures. As long as there’s sufficient equity in the property, homeowners can secure a hard money HELOC or private money second mortgage to meet their financial goals.

Hard money second mortgages are not without risks, often featuring higher interest rates and shorter terms. However, they offer unparalleled advantages for homeowners who need quick cash, are financing unique properties, or face credit challenges. By carefully evaluating your financial situation and ensuring the loan aligns with your goals, a bad credit second mortgage can serve as a valuable tool for achieving immediate and long-term objectives.

Consider the Pros and Cons of Hard Money 2nd Mortgages from Private Money Lenders.

While lending restrictions have become more stringent due to new government regulations starting in 2024, there are still viable options for individuals with less than perfect credit or those who may not qualify for a traditional home loan. These options, known as “hard money” loans, come with both advantages and disadvantages that should be carefully weighed.
To determine if this is the right path for you, take the time to consider the benefits and potential issues. In some instances, individuals may find that dedicating time to improving their finances and raising their credit score is the best course of action, enabling them to qualify for a traditional loan.
Pros of Hard Money Mortgage and Private Loans:
  • No income documentation
  • No minimum credit score
  • Flexible when it comes to property types
Cons of Hard Money Mortgages:
  • High interest rates
  • High closing costs
  • Significant equity is required

Regrettably, many individuals opt for these types of loans without thoroughly assessing whether the drawbacks outweigh the benefits. While obtaining a loan without a minimum credit score requirement may seem appealing, especially for those with significant credit challenges, the ensuing higher interest rates might render the monthly mortgage payment unsustainable in the long run.

Although it is feasible for an individual to utilize this loan type to secure a home or other property and consider refinancing later, it’s not a recommended strategy, as stricter regulations may complicate the refinancing process in the future. This could leave them in a situation where they are paying substantially more on the loan than they otherwise would have.

Consideration should also be given to the higher closing costs associated with these loans, requiring individuals to contribute a substantial upfront amount. Due to the specific terms of this loan type, negotiating costs and fees during the closing process becomes more challenging, leaving individuals with limited flexibility and little choice but to cover these expenses.