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Parent Category: Illinois

Find Illinois Hard Loan Lenders, Private Loans, Bad Credit Loans, Bridge Loans, Investor Loans, Private Money Mortgage, Estate Loans, and Hard Money Commercial Loans and Residential Loans

Hard Loans or Hard Money Loans
 
The overhauling of the existing real estate credit industry in the 1950s gave way to the introduction of hard money loans. Hard money loans or hard loans as it is also called are referenced as loan financing that is based on an asset. The value of the loan is predicted based on a certain real estate asset. These types of loans are most popular in the North America's which include Canada and the United States.
 
Private investors or certain companies are the primary lenders for hard money loans. The interest rates for these types of loans are usually above the range of commercial and residential conventional loans. The reason why the interest rates are higher is because these types of lenders take on a greater amount of risk than the traditional lenders.
Illinois private money mortgage companies are available as a credible resource for those that are seeking hard money loans within a certain timeframe. Usually, the lender has the option to hold onto the property should it not be sold within a certain period of time at a price that is in agreement with both parties

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