Hard money loans also have lower loan - to - value ratios than traditional bank mortgage loans, since the only protection against default by the borrower is the property itself. (glassridge.com)
Traditional bank mortgages charge an interest rate of around 3 % to 4 % and bank credit lenders will charge rates between 7 % and 15 %. (mortgagebrokerstore.com)
This type of loan unlike traditional bank mortgages can be tailored to customers» needs. (mortgagebrokerstore.com)