Hard money is a short term for bridge loan in which it could be considered as cash offers covering the cost of sale price and rehab cost for Residential and Commercial Properties, as most distressed properties nationwide have potential equity for investors to maximize profit on investments.
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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.