What is a hard money loan? In summing it up, it’s a bridge loan of sorts. It’s a asset-based loan financing through which a borrower receives funds secured by real estate. This type of loan is not a Fannie Mae, Freddie Mac type loan but usually issued by private investors or companies. Due to this type of loan and the high risk associated to it, rates are somewhat higher than conventional rates.
To be qualified for a hard money loan will vary greatly based on what lender and what purpose the loan is needed for. We will consider, Investment properties, rehab loans, commercial loans to name just a few.
To recap, Alt Financial has 30+ years in assisting in all types of hard money loans and with our Free 1 hour complimentary loan overview, we feel certain you will come out making that right decision!