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A hard money loan is a type of loan that is secured by real property. Hard money loans are considered loans of "last resort" or short-term bridge loans.
Hard money is a currency made up of or directly backed by a valuable commodity such as gold or silver. Hard money has historically been highly prized for its...
A hard money loan is a short-term loan that often requires the borrower to use an asset, like a home, as collateral to secure the loan. Hard money loans are also referred to as bridge loans and can be used to help finance one house while preparing to sell another. Traditional lenders don’t issue hard money loans.
Like mortgages and auto loans, a hard money loan is a secured loan that uses collateral, usually what the loan is being used for. In many cases, the property you’re financing acts as...
Hard money loans, also called bridge loans, are short-term loans commonly used by investors, such as house flippers or developers who renovate properties to sell. They might also be a...
A hard money loan is a nontraditional, secured loan provided by an investor to a buyer of a “hard asset,” usually real estate, whose creditworthiness is less important than the value of the asset.
Breaking Down Hard Money Loans: Pros & Cons Advantages of Hard Money Loans. Traditional mortgage loans usually take weeks, even months, for approval. This delay is a non-starter if you want to close quickly on a property, especially in hot markets. With a hard money loan, you’re looking at a matter of days, sometimes even a week, to get your ...