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Mortgage glossary
Hard Money Loan
Short-term private financing often used for certain investment or renovation projects. The property value may have a large role in the review, but credit, experience, income, assets, and the project may also be considered. These loans can have higher rates, fees, or shorter repayment periods than traditional mortgages.
In plain language
This term may appear in conversations, forms, or documents during the mortgage process. If something important changes in your situation, ask how it may affect your case before making a decision.
This explanation is general and educational. It is not personalized advice, a loan offer, or a promise of approval.