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A hard money loan is based on the value of a property rather than your credit. Hard money loans are used for investing strategies that require a quick turnaround.

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Loan structure. A hard money loan is a species of real estate loan collateralized against the quick-sale value of the property for which the loan is made.

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While every hard money lender’s requirements vary, there are a number of common documents required by most private money lenders to successfully close a loan.

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Hard money is a form of alternative financing. When loans need to happen quickly, or when traditional lenders will not approve a loan, hard money may be the only option.

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Hard money loans are made by lenders willing to accept greater risks than mainstream mortgage companies and banks. Read more here.

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