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What is a Private Money loan?

Loan Programs: Private money

A private money lender is a non-institutional (non-bank) individual or company that loans money, generally secured by a note and deed of trust, for the purpose of funding a real estate transaction.

What is the right loan for you?

Private money loans, or hard money,

ypically higher rates

Looser guidelines

relationship based

not credit based

higher down payments

shorter terms

can have a prepayment penalty

condition of the house is not always an issue.

The future value can be used.

Exit strategy is needed (how are you getting out of the loan)

are you selling or refinancing?