HARD MONEY LOANS

Hard money loans are loans secured by real property. These types of loans are primarily used in real estate transactions, in which the lender is often an individual or company. These types of loans are typically sought out by those interested in renovating or reselling property used as collateral for financing.

Hard money loans have terms primarily based on the value of the property being used as collateral, more than the creditworthiness of the borrower. The cost of a hard money loan is offset by the fact that the borrower has intentions to pay off the loan rather quickly.