A Guide on Hard Money Lending
If you are looking for some extra funds in times of financial hardships or for your next big project, taking a loan can be a great option. But there are so many loan options that it can get challenging to pick the right one. Hard money lending in New York can be beneficial for you if you are looking for some quick funds and do not qualify for the eligibility criteria of other loans. What is a Hard Money Loan? A hard money loan is simply a short-term loan secured by real estate. These loans are funded by private investors as opposed to conventional lenders, such as credit unions or banks. A hard money loan is usually for one year, but you can extend it for a longer term of two to five years. Investors looking for finance options but do not want to involve their bank would surely know about hard money. This type of private financing is generally a more lenient criterion. Hard Money Lending Vs. Other Lending Types The main difference between hard money lending in New York and the lending