What Is a Credit Card Cash Advance

What Is a Credit Card Cash Advance

Looking for a way to access quick and convenient cash without having to dip into your savings might seem like an unrealistic hope, but with a cash advance, you can do just that.

While not advised due to the high charges associated with them, cash advances are an option for when all else has been exhausted.

A credit card cash advance is way to obtain money immediately by means of making a withdrawal through your credit card. Cash advances can be made at ATM’s as well as at bank branches and through online banking.

Who Should Use a Hard Money Loan?

Who Should Use a Hard Money Loan?

  • Fix and Flips
  • Land payday loans in Ashland City Loans
  • Construction Loans
  • When the Buyer has credit issues.
  • When a real estate investor needs to act quickly.

Real estate investors choose to use hard money for many different reasons. The main reason is the ability of the hard money lender to fund the loan quickly. In most situations, hard money loans can be funded within a week. Compare that to the 30 – 45 days it takes to get a bank loan funded. The application process for a hard money loan generally takes a day or two and in some cases, a loan can be approved the same day. Good luck hearing back about a loan approval from your bank within the same week!

The ability to obtain funding at a much faster rate than a bank loan is a significant advantage for a real estate investor. Especially when the real estate investor is trying to acquire a property with many competing bids, a quick close with a hard money loan will get a seller’s attention and set their offer apart from the rest of the buyers offering slow conventional financing.

Another reason a borrower may choose to use a hard money loan is that they have been rejected by the banks for a conventional loan. Life doesn’t always go as planned. Short sales, foreclosures, credit issues… they happen. Another important thing banks need to see is income history.