Zero Down Hard Money Lenders Hard money loans make the most sense for short term loans. Fix-and-flip investors are a good example of hard money users: they own a property just long enough to increase the value – they don’t live there forever. They’ll sell the property and repay the loan, often within a year or so.
A hard money loan is another option for real estate investors when a traditional mortgage lender may not work for their situation. A hard money lender uses a property as a "hard" asset and collateral. There a ton of ins and outs. Let’s break it down. Getting Started. A hard money loan is an asset-based loan.
New York, NY, December 15, 2009 –(PR.com)– Hard Money NYC (www.hardmoneynyc.com), a private money lender specializing in commercial real estate financing, announced that it has closed a short term.
LOAN offers short-term, secured, non-banking loans (sometimes referred to as “hard money” loans), which they may (at their option) renew or extend on, before or after their initial term expires, to.
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Hard money loans are short-term loans secured by real estate. businesses use them to fund specific short-term projects or as a bridge while they secure conventional financing. They are relatively easy to get since underwriting is based solely on the value of your real estate.
The simple definition is that a hard money loan is an asset-based loan. The asset is the collateral, or security, for the loan. The asset most commonly associated with the term hard money is real estate, although a loan against any ‘hard’ asset such as gold, precious stones or artwork could be a considered a hard money loan.
Hard money loans are available in most areas of the United States and they allow the Borrower to use the equity in the asset as collateral for the loan. The main advantage of using hard money is that it is easy for a borrower to qualify since the equity in the property is the most important element of the loan.