hard money loan


Considered a last resort loan for borrowers who are seeking to take out a loan, typically for real-estate, but who are not eligible for other loans. A hard money loan consists of high fees and an elevated interest rate, which makes them less desirable by borrowers. Instead of using the borrower's credit history as collateral, some type of physical property is used a leverage. Traditional banks do not offer this type of loan.

Use hard money loan in a sentence

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hard money hard money mortgage