Mortgage Technology and Beyond ... 2004: The Year of More

Mortgage Technology and Beyond ... 2004: The Year of More

October 24, 2004

Discover hard equity loans: An easy way to increase your incomeGary Opperhard equity lending, loan options, real estate focus
Hard equity loans are not hard! Many mortgage brokers may not
take the time to investigate this easy niche simply because they
think hard equity loans are difficult and time-consuming.
No credit, employment or income verification is required to
close hard equity loans. Hard equity loans can help you effectively
serve your clients and dramatically increase your profits.
Do not turn away potential clients; satisfy their needs with a
hard equity loan. These loans are a simple way to maximize profit
and they do not take much time out of your day. With rapid
approvals, the ability to talk directly to stable lenders, quick
closings and flexible loans, hard equity loans do not demand much
of your attention; however, they can fatten your wallet.
Hard equity lending is actually quite simple. They require, at
most, a one-page application. The lender primarily processes the
loan and there is very little documentation or verification
No questions asked
A hard equity loan is a loan based on the real estate property
without significant regard to the borrower or their income,
employment, credit score, debts, tax returns or assets. Hard equity
lenders evaluate the real property value based on their personal
experiences or a real estate appraisal. You will not have to
explain credit, income or other issues.
Rapid approvals
With your concise, one-page application, loans are usually approved
that same day by a hard equity lender. This will allow more time to
explore other marketing tactics to increase your profits. Your
fellow borrowers will appreciate your fast response.
Quick closings
There are few requirements needed to close a hard equity loan.
Because hard equity loans are based primarily on the value of the
property, all you need is a real estate valuation. The valuation is
either an inspection by the lender or an appraisal. Additional
requirements include title insurance, homeowners insurance as well
as proper state and federal disclosures.
Increase your volume without increasing your
It costs very little to add the hard equity brokering niche to your
portfolio. Add to your current advertisements, flyers and faxes
information pertaining to the new service that you offer.
Loan flexibility and diversity
Each loan is unique based on the borrower's needs. The loan will
cater to the client's needs, not the lender's matrix. You should
step outside the box to better accommodate your customers with a
hard equity loan.
Stable lenders
You also build substantial relationships with a stable hard equity
lender. These lenders are smart, consistent and dependable. Once
you have cultivated a relationship with a lender, you can rely on
them to supply you with the money your clients need.
Hard equity loans consist of fast approvals and quick closings.
This means more closings for you, which means more income as well.
Hard equity loans are a simple way to expand your business, your
company and your wallet.
Gary Opper is president of Weston, Fla.-based Approved
Financial Corporation. He may be reached at (954) 384-4557 or