Hard Money Lenders in Logan, Utah

By admin, Hard Money Lenders IO

Hard Money Lenders in Utah

Logan is a city in Cache County, Utah, home to Utah State University and widely known as one of the safest cities in the United States. It has a population of just under 53,000 people and has a population that’s expected to double by 2050. Utah State University is also the biggest employer in the city, and the local school district, as well as Icon Health and Fitness, are also major employers in the city.

According to Niche, Logan gives its residents a dense suburban feel and is a place where most residents own their homes. It is known for its safety, but it’s also a city that’s very accessible through commute. It is known for its outdoor activities, health and fitness opportunities, diversity, and being a great place to raise a family. Logan also has great nightlife and lots of parks. It is home to many families and young professionals, and it has a median home value of $216,200 and a median rent of $783.

Right now, Logan is a seller’s market as of June 2022. It’s a city where there’s more demand for housing than supply of housing, and where real estate investors are getting into bidding wars over the best real estate in the city. Logan is a city where homes are selling very fast and for higher than listing price. 

Hard money loans might be one of the best ways to invest in real estate in Logan. These loans are also known as last resort loans, and they earn that name for a reason. Sometimes, hard money loans are used to stave off foreclosures. They are known for their unforgiving terms and rates, especially high interest rates, low repayment periods, and high LTV ratios compared to traditional mortgage loans. Right now, the housing market is exploding, with interest rates at 8–15%, which are much higher than the interest rates of mortgages, which are 5.6% on average at the moment. Also, hard money loans have repayment periods of more or less than a year, which are significantly shorter than the repayment periods of traditional mortgage loans which are usually 15 to 30 years. Lastly, hard money loans have LTV ratios of 65–75%, which are much higher than the LTV ratios of mortgages, which are 80% on average.

However, a lot of the times, especially in incredibly competitive seller’s markets like Logan, the pros of hard money loans outweigh the cons, especially for experienced house flippers and real estate investors. Hard money loans have incredibly fast speeds of approval compared to mortgages. They can be approved in a couple of days, and in that time, a real estate investor may have a competitive edge they don’t have with a mortgage. Mortgages generally take a month or more to be approved. In that time, a real estate investor may have already lost out on their desired home.

Hard money loans are typically used for real estate investments where investors have to flip houses. They are used for fix and flips, long-term rentals, and construction projects. Hard money loans are different from mortgages because they use the property as the asset. They don’t depend on the credit score of the borrower for the terms and rates of their loan, although hard money loans do have credit minimums of 600 to 620.

It’s important to only trust the best hard money lenders, which is why we at Hard Money Lenders IO have compiled a list of the best hard money lenders in Logan. 

Hard Money Lenders IO

The team at Hard Money Lenders IO have been lending on investment properties to real estate investors. Every member of our team is dedicated to providing the clients we serve with fast, affordable financing solutions so that they can have access to the funding they need. Hard Money Lenders IO has adjustable guidelines and customized lending programs for borrowers.

Loan Amounts from
100K to 5M+

Rates starting at

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LendingOne is a private money lender, specializing in the financing of non-owner occupied residential investment properties. Lending One provides Mortgage Brokers and Real Estate Investors with a fast and cost effective funding source for their real estate investment needs.

LendingOne uses our own capital, an easy online application and our extensive real estate experience to provide quick and reliable funding for our clients.

Our Loan Programs include:

Fix & Flip
Buy & Hold
Rate & Term
Cash Out Refinance
Bridge Financing
Wholesale Lending

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