As a Borrower, this can be a good thing, since
it means Private Hard Money Lenders have to compete with commercial bank mortgages, giving you access to better terms & rates.
Not exact matches
Hard money lenders offer their funding through
private means, unlike traditional institutions including banks.
Your loan comes straight from
private money, which
means it's in your hands much faster — especially if you use a local
hard money lender in Duluth.
That
means a
private lender, or «
hard money»
lender might tend to gravitate or specialize in a particular type of property due to the familiarity with both the property and the process.