What is a hard money loan? How does this differ with a conventional loan? I’m commonly asked these two questions and many others regarding hard money lending. I like to joke if one were to ask 10 people to define hard money they would likely get 12 answers! Hard Money is a unique product that is frequently misunderstood and misused by both mortgage professionals and borrowers.
At Fairview, we think it is imperative to educate both borrowers and real estate professionals on the unique aspects of hard money lending (bridge lending, private lending, etc…). Hard money lending can be the wild west of lending with many pitfalls that need to be avoided. We developed a simple guide to help answer many common questions regarding non conventional lending including:
- What is Hard Money?
- How is this different than a traditional bank loan?
- When is a hard money loan appropriate?
- What are some tips that every borrower and mortgage professional needs to know?
- How is Fairview different than other lenders