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Updated over 2 years ago on . Most recent reply

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Phyo Ko
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Hard money lender what type of deed needed

Phyo Ko
Posted

Hello

Need some help am getting a hard money loan for a Reno on a duplex for 60k. I have signed the promissory note, but i am not sure about what kinda of deed i need for the loan. Is it a deed of trust or something else? I am using my SFH as the collateral for the loan. This is my first time using hard money loan i don't want to make a mistake. Please help

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Darius Ogloza
  • Investor
  • Marin County California
2,357
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Darius Ogloza
  • Investor
  • Marin County California
Replied

Your escrow agent should have all of this information for you and the proper forms/documents to sign.  If you are trying to avoid escrow fees, you are making a major mistake (i.e. like a signing a note before getting the money).    

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