Equity lenders who base their funding decisions on the unencumbered property value and its salability. They do not calculate debt ratio and usually do not take into account the borrower's credit and income. The combined loan-to-value ratio is usually less than 65%. Funding can be very fast. Sometime in 2 days or less.
Investors who loan money against a property based strictly on the equity it holds. They usually charge more points and a higher interest rate than conventional lenders.
A lender who offers loan funding based on real estate as the primary collateral asset.
A Lender that customarily funds loans by private money sources and investors but not banks. Interest rates and points can be higher.
Hard money lenders are lending companies offering a specialized type of real-estate backed loan. Hard money lenders provide short-term loans (also called a bridge loan) that provide funding based on the value of real estate that has been collateralized for the loan. Hard money lenders typically have much higher interest rates than banks (between 11 and 16%) because they fund deals that do not conform to bank standards.