What are Hard Money Loans / Bridge Loans?

Hard Money Loans / Bridge Loans" are an asset based loan based on the collateral value of a commercial property. Almost any asset is up for consideration, be it real estate or other commercial property. Other properties include negotiable securities, accounts receivables, equipment, inventory, etc. Typically, Hard Money Lenders (HML's) fund Hard Money loans fast, usually within one to three weeks.

Credit is not considered in making Hard Money loans. It's the collateral value that counts and most Hard Money Lenders will lend up to 60% loan-to-value. The term of the Hard Money Loans are short, usually 6 months to 3 years.

Rates vary from 10% to 18% per annum. Points vary from as little as 2% to as high as 10%. Hard Money Lenders may charge points going in (at closing) and points when exiting (when paying off) Hard Money loans.

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