Why Take Residential Loans from Commercial Hard Money Lenders?
If you are going to start a commercial, residential project when hard money lending can be extremely profitable for you. Many people have developed their career as a commercial hard money lenders in the recent years. Most people confuse the term hard money with “money which is difficult to obtain.” It is wrong. In reality, hard money loan is the easiest fund that you can procure. You can say that Hard money is unconventional asset-based lending in which, real estate is the collateral of the loan. In general terms, it is the last resort for borrower due to following unconventional characteristics: Credit Score of the Borrower Type of loan Fast Funding Timeline, etc. Hard Money lenders include: Pension funds Real Estate Funds Private Individuals having money for lending Some of the individuals have deep pockets while some have deep pockets. The hard money lenders lend their money on a short-term base to the borrowers. As a borrower, you can use it for many pr...