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A hard money loan is almost like a cash loan, secured by a real property. Hard money loans are usually great for borrowers who are looking for a short term financing. Such loans usually comes from private lenders and investors since traditional banks do not usually offer this type of loan.
Hard money is a monetary loan used to purchase a real estate residential or commercial property, while soft money is a monetary loan not intended for a specific use. You often find hard money lenders more than soft money lenders.