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Vashon Mortgage LLC

Independent Discount Broker – NMLS #2431410 –  (206) 761-1484

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Hard Money Loans

A hard money loan is a type of loan that is secured by real property. Hard money loans are considered loans of “last resort” or short-term bridge loans. These loans are primarily used in real estate transactions, with the lender generally being individuals or companies and not banks.

KEY TAKEAWAYS
  • Hard money loans are primarily used for real estate transactions and are money from an individual or company and not a bank.
  • A hard money loan, usually taken out for a short time, is a way to raise money quickly but at a higher cost and lower LTV ratio.
  • Because hard money loans rely on collateral rather than the financial position of the applicant, the funding time frame is shorter.
  • Terms of hard money loans can often be negotiated between the lender and the borrower. These loans typically use property as collateral. 

Vashon Mortgage – NMLS #2431410

WA DFI Consumer Loan License #2431410

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Randal Collen, MLO #2386273

17147 Vashon Hwy SW, Ste. 105, Vashon WA 98070.

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