In most cases when you want to request a loan from a bank or a traditional institution, you won’t have a quick response. Instead, the waiting time can take months and you’ll be asked to have an excellent credit score and some other personal requirements so they can make sure you have a good payment reputation and you’ll be responsible to pay back the loan.
With a hard money loan, you won’t have to submit too much personal information since the loan is backed by the property itself. However, you’ll have to provide the minimum documentation the lender requires, but you can still be completely sure that the process is really fast and doesn’t compare to a regular bank.
You’ll work alongside the lender to make sure everything goes as planned and that you complete the whole process successfully. Aspects like the property location and how much is worth will be considered by the lender to determine the loan amount, interest rates and set a time frame.
In Fort Myers, you’ll find very good deals. It’s located in Lee County with a population of 87,103 residents.
These are some facts that you might consider to invest in Fort Myers real estate:
- The median home value is $160,406 and the average market rent is $1,347 per month
- Per capita income is $29,991 and job growth 1.88%
- Some of the most visited places in the city include Bell Tower, Sanibel Offshore Fishing Charters, Edison and Ford Winter Estates, Fort Myers River District and JetBlue Park
- Residents’ level of education are 83.4% High School grad or Higher and 29.7% Bachelor’s degree or Higher
- Fort Myers has many different special events like Farmers Market, Art Walk, Music Walk, Celtic Festival, ArtFest, Edison Festival of Light, Taste of Lee, and Fort Myers Boat Show
Hard money lenders in Fort Myers, Florida have a great background and experience dealing with many real estate investors. So they’re ready to assist you with loan programs and everything you need to close a deal. Contact one of them from the list below: