What is Hard Money?

Hard Money Loans are mortgages from private investors to purchase or refinance real estate. Hard money loans are funded lighting fast and are easier to qualify for than traditional financing. Hard money lenders look for equity in the collateral property. Equity is the accumulated value of a property less all mortgages placed upon it. In addition, Hard money lenders also like a solid prospect for loan repayment. This may necessitate a high credit score, income, and valuable assets, but it may only require a solid strategy for quick profit from the deal. Hard money lenders are frequently small companies composed of only a few lenders who lend their personal cash. As such, your hard money loan needn’t pass through several boardrooms to reach a result, and the time saved will mean more or better real estate investments for you.