Hard Money Loans
Hard Money Loans are available at Los Angeles Realty Loans. There are many different types of loans available in the lending industry. The Hard Money Loan is a specific type of financing in which a borrower receives based on the value of a specific parcel of real estate. Hard Money Loans are issued at a much higher interest rate than the conventional commercial loan. A hard money loans are generally issued by private lenders.
Hard money loans are a term that is used almost exclusively in the United States and Canada where these types of loans are most common. In commercial real estate, hard money developed as an alternative “last resort” for property owners seeking capital against the value of their holdings.
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. Most lenders fund in the first lien position, meaning that in the event of a default, they are the first creditor to receive remuneration.
Occasionally, a lender will subordinate to another first lien position loan; this loan is known as a mezzanine loan or second lien.
Commercial hard money is similar to traditional hard money, but may sometimes be more expensive as the risk is higher on investment property or non-owner occupied properties. Commercial Loans may not be subject to the same consumer loan safeguards as a residential mortgage may be in the state the mortgage is issued. Commercial loans are often short term and therefore interchangeably referred to as bridge loans or bridge financing.
To learn more about Loans, visit our main website to fill out an application. We take great care in offering an online application, which can get the process started.
Visit: Los Angeles Realty Loans
Call – 877-427-5050