Commercial hard money loans are a capital source offered by private lenders to investors who need financing fast. The interest rates are typically higher than traditional bank loans but commercial hard money loans have two major advantages – faster funding and flexible underwriting criteria.For investors who are looking to purchase, refinance, or draw cash from an investment – private.
Hard money loans and conventional loans, while in essence are the same thing – loaning funds on interest – are actually quite different. For starters, hard money loan rates don’t follow the same standards that conventional loans follow, meaning the rates aren’t as uniform across the board.
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Interest rates are typically higher than conventional commercial or residential property loans, starting at 7.7%,  because of the higher risk and shorter duration of the loan. Overview. Most hard money loans are used for projects lasting from a few months to a few years.
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Interest Rate: Interest rates on hard money are higher than traditional loans, but the loan term is much shorter. It’s wise to consider the actual dollars that will be paid during the term of the loan, rather than the APR.