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Hard money loans are also different from so-called soft money loans: Hard money loans are usually secured by physical assets like property and their assessed value in the form of equity.
For instance, if your car's value has dropped to $25,000 but you still owe $30,000 on your loan, gap insurance would cover that $5,000 difference if your car is totaled or stolen.
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A soft cost to a contractor, such as his administration costs, can be a hard cost to the owner because what the contractor invoices the owner is the owner's direct cost. If the owner employs engineers to overlook construction as the project is executed, this will be a continuing expense during repair if the repair is done after the original ...
The loan amount the hard money lender is able to lend is determined by the ratio of loan amount divided by the value of the property. This is known as the loan to value (LTV). Many hard money lenders will only lend up to 65% of the current value of the property. [3] There is no such thing as 100% LTV for this type of transactions.
Hard money may refer to: Hard currency, globally traded currency that can serve as a reliable and stable store of value; Hard money (policy), currency backed by precious metal "Hard money" donations to candidates for political office (tightly regulated, as opposed to unregulated "soft money")
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