Hard Money Loans: What You Need to Know

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What Are Hard Money Loans?
How Hard Money Loans Work
Pros and Cons of Hard Money Loans
Pros
Cons
Hard Money Loan Rates
Longhorn Investments: start at 9.99% RCN Capital: start at 7.49% Groundfloor: start at 5.5%
Other Fees
Appraisal fee: $425-550 Loan documents: $475 Admin fee: $500 Credit report fee: $40 Flood certificate: $15 Monthly servicing fee: $15*
Getting a Hard Money Loan
Hard Money Loan Alternatives
Commercial Mortgages
Construction Loans
SBA 7(a) Loans
Applying for Business Loans
Frequently Asked Questions
Photo credit: iStock/fizkes
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About the Author
Susan Guillory is the president of Egg Marketing, a content marketing firm based in San Diego. She’s written several business books, and has been published on sites including Forbes, AllBusiness, and Cision. She enjoys writing about business and personal credit, financial strategies, loans, and credit cards. Follow her on Twitter @eggmarketing.
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