A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by real property. Hard money loans are typically issued by private investors or companies.
Hard Money Loans
Hard Money Loan FAQs
What is a hard money loan?
A hard money loan is a short-term, asset-based loan secured by real property, often used by investors for quick financing.
How fast can a hard money loan close?
Because approval is based mainly on the property, hard money loans can often close much faster than conventional financing.
What are hard money loans used for?
Common uses include fix-and-flip projects, bridge financing, and time-sensitive real estate purchases.
What are the typical terms?
Hard money loans usually have shorter terms and higher rates than conventional loans, reflecting their speed and flexibility.