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Commercial hard money is a term describing a commercial loan that is generally non bankable. The company usually does not meet the standard banking criteria, but has real estate and or assets that are sufficient to collateralize the loan to the investors/lenders.
Commercial lenders include commercial banks, mutual companies, private lending institutions, hard money lenders and other financial groups. These lenders typically have widely varying standards on which they base their loan criteria and evaluate potential borrowers—but are often focused exclusively on the private market and have more lenient financial qualifications than banks.
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.
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A hard money lender may get his financing either from his own contacts with private lenders, or financial institutions with whom he has established his own lines of credit. Hard money loans are made to real estate investors for the purpose of investing in and rehabbing real estate. Rates are a little higher than borrowing directly from a ...
Conway is a city and the county seat of Horry County, South Carolina, United States. [8] The population was 24,849 at the 2020 census , [ 9 ] up from 17,103 in the 2010 census , [ 10 ] making it the 18th-most populous city in the state.
U.S. Route 501 Business (Conway, South Carolina) W. WHMC (TV) This page was last edited on 25 January 2019, at 21:54 (UTC). Text is available under the Creative ...
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