A hard money loan is a type of loan that is typically given to businesses and individuals who have a difficult time getting traditional loans. The borrower signs a promissory note, which spells out all of the terms of the loan. You can look for the best South Floridas #1 Hard Money Lender & Private Money Lending from online sources.

The interest rate on a hard money loan can be much higher than normal loans, because the lender is using their own funds rather than borrowing from a bank. The interest rate on a hard money loan is typically higher than a standard 30-year mortgage. Hard money loans are very risky, because the lender can assume that the borrower has no collateral and will foreclose if they run into financial difficulties.

The amount of interest charged on a hard money loan varies from lender to lender, but is typically around 10%. The level of risk is also included in the interest rate charged by the lender. If you have poor credit, your interest rate may be as high as 20% per annum.

Hard money loans are a type of loan that is made to borrowers who are not able to qualify for traditional loans because they do not have good credit or enough collateral. Hard money lenders are typically individuals or private companies that specialize in making loans to businesses and individuals in difficult financial situations. These types of loans can be very expensive and risky, so it is important to research the lender and the terms of the loan carefully before applying.