What is a Hard Money Loan?
Hard Money Loans are typically used to purchase, fix, and flip an investment property.
Some Borrowers might use a Hard Money Loan to purchase a Primary Residence, in which case, it might also be called a Bridge Loan because the objective is to get into a long-term fixed rate product as soon as possible (e.g., after repairing credit, or selling another asset).
Hard Money Loans come at a higher cost, but they typically achieve an objective where the benefit significantly outweighs the cost.