It is sometimes called a bridge loan, private capital loan or private loan. A hard money loan is a first mortgage on investment real estate. A hard money lender looks to the property as the primary collateral as opposed to the borrowers credit score or other factors. A hard money loan is an alternative to a traditional bank loan.
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1. Hard money lending is another way an investor can finance their real estate projects, outside of the traditional mortgage means. This is a short-term loan secured from private investors or individuals, as opposed to other traditional institutions like banks or credit unions.
Hard money lending is a type of collateral-based lending designed specifically for real estate investors. hard money lenders focus on the anticipated after-repair value of the property as opposed to its current value. This benefits borrowers by offering unparalleled leverage for fix-and-flip or rehab-and-rent opportunities in Maryland, Virginia, and Washington, DC.
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We have been in the hard money lending business since the 1980s. If you are new to hard money loans, keep in mind these loans are very similar to bridge loans, but backed by a private lender.
Hard money lenders don’t rely on traditional banks to fund these loans, so they are able to work more closely with the buyer to determine if the loan is a good fit. If you are in the market to purchase and flip a property, a hard money loan may be the perfect solution for you.
But now, zero down payment loans are back, but for real estate investors only. Hard Money Sources, which connects borrowers and lenders in the private investment and hard money marketplace, announced.