Monroe Funding Corporation Examines the Appraisal and Hard Money Loan Relationship
Monroe Funding Corporation recently explored how hard money loans provide an effective solution for quick, short term money needs. Popular for "fix and flip" needs, Monroe Funding Corp explores how appraisals may affect the loan terms.
FORT LAUDERDALE, Fla., August 8, 2019 /PRNewswire-PRWeb/ -- As discussed in the Monroe Funding Corp blog, an appraisal will analyze a property value while comparing it to sales of properties in the neighboring area. The analysis may also include a proposed broker price. For the highest accuracy, Monroe suggests working with a broker with a good reputation who will provide an impartial assessment. Borrowers are also encouraged to request another appraisal to ensure the initial appraisal is fair and accurate.
Should the appraisal indicate that a property's value will increase following the loan approval and the repair/renovation work is performed, a hard money lender such as Monroe will be more likely to approve funding. However, if the appraisal indicates the property value won't see much value increase, the odds of approval may decrease.
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About Monroe Funding Corporation
Monroe Funding Corporation is a direct equity lender serving clients throughout Central and South Florida, specializing in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get clients to the closing table quickly and professionally. For more information on hard money lenders Miami, please call 954-816-0388 or fill out the application.
SOURCE Monroe Funding Corporation
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