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International Business Funding.us

Hard Money Loans


Residential and Commercial

A residential hard money loan is a kind of loan in which a borrower gets funds based on the value of a specific residential or commercial real estate. The term hard money refers to the difficulties in acquiring a conventional loan. Hard money loans offer higher interest rates and lower loan-to-value ratios, as there is no government institution that backs the lender. The loans are given against the value of real estate collateral. Residential hard money loans are loans given by Private Individuals on the basis of the value of the asset or property as opposed to the traditional banking criteria of credit scores, tax returns, and income statements of the borrower. Residential hard-money loans are temporary bridge loans that are provided for acquisitions, refinancing, foreclosures and people who file for bankruptcy. The interest rates for these loans are higher, but are cheaper than taking on a financial partner or filing for bankruptcy. In general, hard money loans offer interest rates and points that are higher than traditional bank loans.  However, hard money loans are considered to be beneficial for people looking for sources to help them get loans, for example, to renovate residential or commercial property before selling or renting it.

The hard money lenders usually consider primary residence and income-producing properties such as apartments, retail or shopping centers, industrial, office buildings, hotels, motels, medical institutions, and restaurants. They also provide loans for  foreclosures and bankruptcies.