April 29, 2014
Hard money lenders make temporary loans, or bridge loans, with high interest rates and loan origination points. Most hard money lenders charge interest rates averaging 10.00% to 14.00%. Points can average between 3.00% and 10.00%. At Apartment Loan Store, we offer hard money bridge loans starting at 6.00%.
So why would someone want to use a hard money lender? Here are seven reasons why: