Who Borrows From Private Money Lenders?

Hard money (private money) fills a niche in mortgage lending and provides alternate funding for borrowers who have specialized needs not covered by conventional financing.

Who Benefits from the Use of Hard Money?

Here are a few mainstream examples of borrowers who benefit from the use of hard money:

• Borrowers who want to refinance a non-owner occupied property to take cash out
   
• Borrowers who need quick funding for emergency, time sensitive loans
   
• Borrowers who want to use equity for a real estate investment
   
• Borrowers who want short term loans
   
• Borrowers who want to avoid the hassle of institutional loan processing
   
• Borrowers who want a loan that has more flexible terms and conditions
  

What Benefits Do Hard Money Loans Provide?

When speed is very necessary to complete a profitable transaction, it can make sense to pay for short-term private money rather than walk away from the deal.

Owners of non-owner occupied properties benefit when they want to cash out large amounts of their equity via refinance loans.

Real estate investors use private money loans because there are no lengthy timelines and no restrictions required by bank loans.

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