hard money loan definition

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In lending, a hard money loan is one which is backed by the value of a physical asset, such as a car or home. The cost of the asset acts as collateral for the loan.

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A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by real property. Hard money loans are typically issued by private investors or companies.

Hard money (loan) definition – What does Hard money (loan) mean? Hard money loans are loans in which real estate serves as the collateral asset. It is most commonly used as a type of bridge loan for temporary financing. As with other collateralized loans, the size, rate, and length of a hard money loan is determined by

The definition of "residential hard money" when referred to in real estate financing, is essentially a non-bankable loan on an investment single family home (or duplex). The name residential hard money is frequently interchanged with "no-doc", private loans, bridge loans, etc.

The definition of hard money loan is: A last resort loan or short-term loan to close a bridge or gap in your finances.A hard money loan is not based on credit but it backed by the overall value of the property. Due to the property being used as the protection against default from the borrower, these type of loans usually have a low loan-to-value ratio also known as (LTV) typically lower than.