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What is a hard money lender?

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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.

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17th Nov 2009 In Finance 1 Answers | 548 Views
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