Hard Money Lending Regulations/Rules

[Nicole Sun]

Hi All, 

Are there any rules or limits on how many loans or how much total lending amount per year that a hard money lender can do? Where to locate regulations/rules for hard money lending business if they exist? Thanks!

[Derek Dombeck]

Look up your States commercial lending regulations. This applies to maximum amount of interest you can charge, default time frames before you can foreclose, and the foreclosure process. We operate primarily in WI, and here, we don't have any usury laws that restrict interest charged. Also, I'm not aware of any laws, in any state, that limit the amount that you lend out.