Current Interest Rates

 
Click here to go to our Hard Money Lender Directory

Hard money lenders are companies or individuals who privately provide a specialized type of real-estate backed loan to persons with damaged credit in a similar way a bank or brokers provide loans for their credit worthy customers. However, the interest rate will be higher as these lenders provide loans to consumers who have not been able to obtain a loan from conventional lenders. Hard money loans rely on property as collateral and can sometimes provide a quicker turnaround from application to receiving loan proceeds.

A Hard money lender charges a higher rate of interest and fees that will be significantly higher than rates and fees paid by more credit worthy borrowers. Real estate investors who wish to invest in risky commercial real estate transactions may also benefit from hard money loans. Borrowers who are facing a foreclosure may also try to obtain a hard money loan as their last option to stop foreclosure.

Usually, hard money lenders serve a regional market or a local market and directly deal with the applicants. If you live in California, Texas, Florida, New Jersey, New York, Pennsylvania and Illinois you will have several local lenders from which you can choose. Some will also offer loans nationwide and are represented by brokers who would take a commission usually included in points paid at closing for preparing and submitting the loan documentation.

Commercial Hard Money Lender

Commercial hard money is provided to an individual or a entity who apply on behalf of a business entity or corporation.  This can be secured against a residence, commercial property or a residential investment property. This is also termed as blanket mortgage. Private individuals, federal banks, SBA lenders and mortgage companies are the sources of asset based commercial hard money loans.

 

Hanover Mortgage Company

Private real-estate loans and trust deed investments for California Only. Purchase and refinance of single and multi family residences, residential income property, churches, strip malls, mixed-use, rehabs, office and other special situations.

BusinessFinance
Helps search the lending and investing criteria of over 4,000 sources of business financing, free. Based on the information provided, you would receive a free matched list of funding sources.

Additional Listings

• Rapid Funding

• Lender Ave

• Gourley & Gourley Private Banking