How long do hard money loans typically last?
Hard money loan terms are typically no longer than two to three years. The reason is simply that a longer term becomes too expensive for the borrower. With hard money loan lending, the goal is to have the borrower in and out of the hard money loan as quickly as possible. The hard money loan lender will analyze each transaction during the due diligence process for “good risk” — to be sure that a property can be repositioned for conventional refinancing or sale within one or two years. Business Hard Money Loan Equity The amount of equity needed for a hard money loan depends on the quality of the real estate and the hard money loan lenders themselves. The hard money loan lenders of Coastal La Jolla Funding Group prefer 20% to 25% equity. If you would like to apply for a hard money loan through the Coastal La Jolla Funding Group, click on our hard money loan application. For information on hard money personal loans, click on our hard money personal loans.
