Hard lenders definition :

Hard lenders, also known as "hard money lenders", "equity lenders" or "trust deed investors" are entities who fund or arrange hard loans secured by equity in real estate. Hard lenders can be one private investor or group of investors that bend together to fund a loan secured by equity in real estate. The money comes from saving, IRA accounts, pension funds, trust funds, edge funds, or other sources that are not controlled by or subject to conventional banking rules and regulations. Hard lender can be the investor himself, his company or an outside third party broker  who arranges the loan on behalf of the actual lender or group of lenders.

What is different between hard money broker and hard money lender?

 A broker is person or company who arranges the loan and match lenders and borrowers together. Brokers do not use their own money they only facilitate the creation of the contract and in most cases once the loan is funded the broker does not involve with any collection. Lenders are actually the entity who fund the loans, they have their own money to do so or they may use trust funds directly under their control. After funding the lender may keep the loan or sells it other investors.  The lender may keep servicing the loan after it is sold or may not and the borrower will then have to deal with a new lender for the servicing part. Some lenders also act as brokers and they will arrange the loan draw the documents and then fund it.

 The benefit for a borrower when dealing with a lender is that there is no middle man and the borrower can save time and often but not always, some money.  The benefits for a borrower when dealing with a broker is that a good broker can shop the loan among several lenders and may get a better terms and rates.  Many lenders are restricted with their underwriting guidelines and may decline a particular loan because of area conditions etc., when this happens the borrower will need to start submitting documents all over again to new lenders but if he is using a broker the broker should handle the transition from one lender to another.     

The rate and terms of hard loans are "harder" than conventional loans. The equity is the key element in underwriting hard loans and it typically does not go over 65%  of recent conservative appraised value of the property.

LendingUniverse is a portal of hard lenders and hard money brokers where potential borrower use the website's integration capacity to compare and negotiate hard money loans on commercial lending or residential and land loans. At lending universe  a borrower get the best of both hard lenders and hard brokers and enjoy wide exposure and competition among the several brokers and lenders who wish to arrange the loan-  Start here to secure your loan.

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