Hard Money Loans

Minimal documentation – require minimal documentation, unlike traditional loans which require documentation such as income verification, credit checks, and other financial information.

Secured by collateral – Typically secured by property. This means that if the borrower defaults on the loan, the lender has the right to foreclose on the property.

Short-term repayment period – Usually short-term loans that must be repaid within a few months to a few years.

Quick approval process – Can be approved much more quickly than traditional loans, often within a matter of days because hard money lenders are not subject to the same regulatory requirements as traditional lenders.

High interest rates – Lenders are taking on more risk by lending to borrowers who may not qualify for traditional financing.