Mortgage Glossary
Hard Money Loan
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A hard money loan is a short-term, asset-based loan from private investors, used mainly for fix-and-flips and quick acquisitions.
What Hard Money Loan means
Approval hinges on the property's value rather than the borrower's income. So funding is fast but rates (often 10–14%) and fees are high, with terms of 6–24 months.
Florida example
A Florida investor buys a distressed Tampa property with a hard money loan that closes in a week, renovates it, then refinances or sells. The speed wins the deal; the cost is acceptable for a short hold.
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