“Hard Money” loans or “rehab loans” as they are sometimes called refer to non-conventional real estate loans. They are usually funded by private money sources and specialty lenders. Interest rates and points on such loans are usually higher. Terms usually range from 3 to 12 months. Hard Money loans have one basic requirement. There has to be some substantial equity in the property to give the lender a reason to invest their funds in an otherwise risky venture.
Hazards When Rehabbing A Home
Rehabbing homes can be a great chance to turn investment [...]