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» Hard Money for Your Residence

Posted on 12/12/2004
Generically speaking, hard money loans are loan based on the value of real estate, not on your personal financial scores. Most hard money is used for commercial purposes. However, hard money is also available for private residential properties. If you need a hard money loan for your personal residence, look for a hard money lender who is licensed to lend in your state. The loan may come under a different name - search for "non-conforming" mortgage loans to see if you can locate a lender who can fund what you need. Expect to pay more than bank rates, but do NOT pay a lender to 'look at' or 'review' your loan. This is an 'upfront fee' that you should not pay.
Posted in Miscellaneous