Hard Money Loans Turn Equity into Cash

Hard Money Loans (also called "Private Money Loans") provide creative and fast access to both private and institutional funds when conventional financing may be inappropriate or undesirable.

Usually this means a loan where the commercial hard money lender can approve the hard money business loan request based upon the value of the assets and the equity in the asset, side stepping much of the usual time consuming documentation and verification that a lender might require to lend the same amount of money under "Soft" terms.

Hard money loans are those loans usually funded at a higher cost to the borrower in exchange for the ease and speed of obtaining funding if he is in a hurry and can't afford to wait for weeks for a traditional lender.

A hard money loan is based upon the sale of the real assets or collateral anchoring the loan without significant regard to:

The borrower
The borrower's income
The borrower's employment
The borrower's credit
The borrower's tax returns
The borrower's assets

The hard money lender will tend to overlook many items that are critical to a traditional lender and soft money loan. These overlooked details will include:

Credit dings, dents, & damage
No credit record or citizenship
Unreported income
Unknown sources of down payment
The number of outstanding mortgages

Hard money loans are quick and the terms are flexible. The product fulfills a need for many seeking financing with a profile traditional, conforming lenders cannot service.

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