Friday August 27, 2010 11:47
When Do Hard Money Commercial Mortgage Loans Make Sense
Privately funded “hard money” commercial mortgage loans are more costly than institutionally funded, conventional mortgages, but they close faster (days not weeks or months) and require less documentation. If a property owner, investor or developer can’t qualify for a conventional bank loan or if time is of the essence, a private loan may be a very smart business decision regardless of the interest rate or the origination points involved.
- Category: hard money loan
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