A2Z Real Estate Depot

Hard money is a conservative loan made against hard assets. Usually made by private investors (although some are hard money-banks). The hard money lenders main concern is that the project is worth while and the purchaser has every intent to repair the property to their specifications, while remaining under after rehab value. So they lend much less, as a percentage, than a bank would. The rates are extremely high and loans are short term and they are usually used for the acquisition and repair of distressed properties. Although the rate and closing costs are extremely high, hard money is a good choice if conventional financing is not an option for you (You have to start somewhere).

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