You can get a hard money loan on almost any type of property – including single-family residential, multi-family residential, commercial, land, and industrial, construction, bridge, spec.
Some hard money lenders may specialize in one particular property type such as residential and not be able to do land loans, simply because they have no experience in this area. Most hard money lenders have a particular niche of loan they are most comfortable with. Ask them upfront which type of loans they are willing and able to do.
Many hard money lenders will not lend on owner-occupied residential properties due to the extra rules and regulations, but there are those who are willing to wade through the paperwork with the borrower. All hard money lenders will do loans in 1st position, while fewer will do 2nd position due to the increased risk for the lender.
For more information visit Bell Capital hard money specialist www.bellcapital.us
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