What is a Hard Money Loan?
Hard money loans are short-term lending instruments used by real estate investors to finance investment projects. Its purpose is to allow an investor to get a property ready as quickly as possible. They provide quick cash for time-sensitive projects.
What is a Hard Money Lender?
Because hard money lenders are not banks, hurdles set up by federal regulations or restrictive bank overlays are not factors in your hard money loan application. Intrust funding as a private money lender, consequently, will not pay too much attention to your credit history or how much debt you have when assessing qualifications for hard money loans. In fact, the property you own is the asset that backs the loan. This is because hard money lenders are only interested in the value of the property. Typically, you can expect the loan to fund in a few days. In comparison, a traditional mortgage loan for an income property might take from one to three months.