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- Hard_money_loan abstract "A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans are typically issued by private investors or companies. Interest rates are typically higher than conventional commercial or residential property loans because of the higher risk taken by the lender. Most hard money loans are used for projects lasting from a few months to a few years. Hard money is similar to a bridge loan, which usually has similar criteria for lending as well as cost to the borrowers. The primary difference is that a bridge loan often refers to a commercial property or investment property that may be in transition and does not yet qualify for traditional financing, whereas hard money often refers to not only an asset-based loan with a high interest rate, but possibly a distressed financial situation, such as arrears on the existing mortgage, or where bankruptcy and foreclosure proceedings are occurring.The qualifying criteria for a hard money loan varies widely by lender and loan purpose. Credit scores, income and other conventional lending criteria may be analyzed. However, most hard money lenders primarily qualify a loan amount based on the value of the real estate being collateralized. Typically, the biggest loan one can expect would be between 65% and 75% of the property value. That is, if the property is worth $100,000, the lender would advance $65,000 - $70,000 against it. This low LTV (loan to value) provides added security for the lender, in case the borrower does not pay and they have to foreclose on the property.".
- Hard_money_loan wikiPageExternalLink 091703fyi.html.
- Hard_money_loan wikiPageID "2679986".
- Hard_money_loan wikiPageRevisionID "604813337".
- Hard_money_loan hasPhotoCollection Hard_money_loan.
- Hard_money_loan subject Category:Loans.
- Hard_money_loan type Abstraction100002137.
- Hard_money_loan type Debt113397174.
- Hard_money_loan type Liabilities113396054.
- Hard_money_loan type Loan113398953.
- Hard_money_loan type Loans.
- Hard_money_loan type Possession100032613.
- Hard_money_loan type Relation100031921.
- Hard_money_loan comment "A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans are typically issued by private investors or companies. Interest rates are typically higher than conventional commercial or residential property loans because of the higher risk taken by the lender. Most hard money loans are used for projects lasting from a few months to a few years.".
- Hard_money_loan label "Hard money loan".
- Hard_money_loan sameAs m.07xhm7.
- Hard_money_loan sameAs Q5655580.
- Hard_money_loan sameAs Q5655580.
- Hard_money_loan sameAs Hard_money_loan.
- Hard_money_loan wasDerivedFrom Hard_money_loan?oldid=604813337.
- Hard_money_loan isPrimaryTopicOf Hard_money_loan.