What is a hard money lender?
A hard money lender is usually a company that lends money to real estate investors and commercial property owners, and bases their loan off of the property rather than the borrower or their credit history.
What is a private money lender?
A private money lender is usually a local investor that lends his own money or family money to real estate investors in his area.
How are hard money lenders and private money lenders different?
Most private money lenders want to keep their loans within a short distance from where they live, while hard money lenders usually have more of a national reach. Some private lenders will fund up to 100% of your deal, while hard money lenders will require you to have some of your own money in the deal.
What can a hard money loan be used for?
Hard money loans can be used to purchase investment properties, properties that need rehabilitation, vacant lots that you are looking to build on, commercial properties and mixed use properties.
Where do you find hard money lenders New York or New Jersey?
Simple answer to this one, NLDS Corp happens to be the leading hard money lenders New York and New Jersey as well as nationwide.
Where do you find hard money lenders nationwide?
Right here!! We lend purchase and rehab + construction money in 28 states and Washington D.C. We also lend on commercial properties in 45 states.
What are the benefits to using hard money vs bank money?
Speed, quick answers to your loan request and painless closings. Banks are not in the lending business – we are!