Investor Q&A: What Is Hard Money Lending? 1. The Big-Picture Of Hard Money Lending. 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.
Often referred to as hard-money lending, the practice has undergone a significant shift in the past three or so years. It used to be that individual.
For individuals who are unable to get financing from the bank or other traditional lenders, hard money loans can be a much-needed fix.
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Like any other loan, a hard money loan is a sum of money that is borrowed from a lender. The exact terms of the loan will vary based on the contract between borrower and lender. The borrower receives the money, while the lender receives monthly interest on the loan until it is paid back in full.
If no hard money lenders are present at the meeting, ask other real estate investors if they have a hard money lender they can recommend. Real estate brokers, conventional mortgage brokers and other real estate professionals may be able to refer an experienced hard money lender.
What is a hard money lender? The real estate term may conjure up visions of crooked-nosed guys who’ll cut off a borrower’s pinkie finger for flaking on a hard money loan.
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Providing funds outside of a transaction that would effect the LTV given by an insured lender could lead to mortgage fraud, money laundering and wire fraud as funds are disbursed. I’d say the best way for you to go would be inside the business entity as a partner.