How do Hard Money Loans work?
I'm curious as to how HMLs work:
-with getting paid once approved? do they just deposit the full purchase and rehab costs into your account?
-How do monthly payments work if there are any or is it more of a balloon type loan? if so on balloon could someone explain a little more on how that works please.
-Is it possible to get a HML with no money up front or very little upfront?
Thank you in advance for your patience with my newbie questions.