how does hard money lending work

The Truth about Hard Money Lenders? – The Truth about Hard Money Lenders. So many first time investors are curious about hard money lenders. Who are they? What is it? How do I get some? Is it beneficial? Let me share with you some of the basic principals about hard money lenders. First of all, lets determine what the term "hard money" means.

Collateral – With a hard money loan, the property itself usually serves as collateral for the loan. But again, lenders may allow investors a bit of leeway here. Some lenders, for instance, may allow you to secure the loan using personal assets, such as a retirement account or a residential property you own.

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How Does Hard Money Lending Work? | New Silver – Hard Money Loans – How It Works. Learn the steps to get funded fast! At New Silver, we know what real estate entrepreneurs need – fast, easy application process, competitive rates and quick approval. That’s why our streamlined application process was made with the real estate investor in.

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Hard money lenders take a different approach: they lend based on collateral securing the loan, and they are less concerned about your ability to repay. If anything goes wrong and you can’t repay, hard money lenders plan to get their money back by taking the collateral and selling it.

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How Does Hard Money Lending Work? | Gauntlet Funding – Hard Money lenders will send an inspector our to review the work completed compared to your scope of work and you should receive funds within 24 hours or the report being complete! The duration for hard money loans are typically 9-12 months, but can vary for certain types of project.