A hard money loan is a short-term loan primarily used for real estate transactions and contrary to a popular myth it’s not because it’s "hard" to get. Traditional real estate loans like a personal mortgage are based on the borrower’s personal ability to repay the loan.
"A SHORT TERM REMEDY FOR A LONG TERM CURE." The term "Hard Money" can be easily misunderstood. Simply, it is a loan where the borrowers collateral or assets which establish a Loan To Value are not necessarily directly related towards the use of your requested dollars.
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Here’s the list of places that grant hard money loans for bad credit and collateral loans with bad. Short-term loans on residential investment properties,
What Is a Short-Term Hard Money Loan? A short-term hard money loan is the most traditional loan used for fix-and-flip deals. It is designed to help you achieve your profit as quickly as possible. Usually, you will only have two-to-three months to rehab and resell your profit. Some hard money lenders offer an extension of a few extra months, if needed.
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flexible access to short term capital based on the merits of a deal, exit strategy and borrowers experience. Currently, fix and flip projects are all the rage and many of these groups turn to hard.
Our primary focus is to provide private short-term hard money loans and/or funding to Real Estate Investors in Chicago area and Midwest states.
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