About Commercial Hard Money Loans
Commercial hard money loans are asset-backed loans that are secured by real estate. In these lending scenarios, the borrower is usually an individual or business who needs to purchase or take cash out of equity in a commercial building and the lender is typically a private company that specializes in higher-risk loans. These types of loans can be made on any type of commercial property, including office buildings, warehouses, large residential housing units, and special-use properties like restaurants, churches, and barber shops. They generally carry higher rates of interest than conventional bank loans but can be very helpful for borrowers who need to have access to cash quickly or who have lower credit ratings and therefore do not qualify for traditional loans.
Recent TopicsView All
While hard money loans are known for funding faster than more traditional mortgage loans and they often require much less paperwork, there is still some paperwork and there will be a closing. It's a good idea to prepare, going in with an understanding of what will happen and what kinds of documents...Read More
A deed of trust, also called a trust deed, is a document that represents a real estate purchase where there is a loan involved. Many people who have a deed of trust simply refer to it as their mortgage or their home loan. But having a deed of trust is technically a little bit different from that. ...Read More
Many property buyers look for alternatives to the big bank loan process that can take a long time to fund and often require excessive paperwork. There are many different types of special financing available. This is a short overview of some of the options US buyers have today. Hard money refers to...Read More