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hard money loans


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Hard money means "equity based". They will lend between 65-75% of the value of the home. Does not matter how much you paid/sales price.

Yes, rates are in the 15-18% range, and the lender will charge between 2-5% as a lending fee. It is the profit that they make for finding an investor that will lend you the money.

It will be hard to get a HML for a residence that you live in, as them mostly want investor property loans.

Charles

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