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

National Mortgage Professional
Oct 25, 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 required. 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 costs 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 e-mail approv01@aol.com.
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