Question
What is a hard money lender?
Interesting Question? 
(2) 
(7)
(2) (7)
Answers (1)
18th Nov 2009 by JonB
A hard money lender typically refers to a lender that is not a deposit institution and generally a last resort of sorts when it comes to financing. Usually used for land acquisition, they lend almost exclusively on the value of the land as opposed to the credit worthiness of the customer. Hard money loans usually have very high interest rates and very short financing terms. The max LTV of a hard money loan usually won't be ore than 60% or so.
A hard money lender typically refers to a lender that is not a deposit institution and generally a last resort of sorts when it comes to financing. Usually used for land acquisition, they lend almost exclusively on the value of the land as opposed to the credit worthiness of the customer. Hard money loans usually have very high interest rates and very short financing terms. The max LTV of a hard money loan usually won't be ore than 60% or so.
Like This Answer? (0) (0)
This answer is the subjective opinion of the writer and not of FinancialAdvisory.com
(0) (0)
17th Nov 2009 In Finance
1 Answers | 64 Views
Subjects: hard money lender,