Hard Money Lending Details???

[Steven Benton]

Hi all! Quick question regarding hard money lenders… I am fairly new to the concept of hard money lenders and was looking for in depth articles or a specific podcast I could check out that goes into more depth on the details of the hard money lending process. Any ideas? I’m new to BP and am absolutely loving the community. Very welcoming and I appreciate that being a newbie! Thanks in advance!!

[Jay Hinrichs]

in a nut shell any lender that advertises or holds themselves out as a lender is A hardmoney lender.. a private lender is just that private not in the business of loaning money and does a few laons a year usually out of the IRA.

HML just like bank difference is:

1. normally short term

2. underwriting while still can be extensive they dont use DTI as much as collateral and expesrince to base the yes or no on the loan.

3. rates are higher than bank.