Time for Hard Money Loans?

While long-term interest rates have continued to drop there are still many people who are unable to qualify for loans because of high debt levels, credit issues or the property they are looking to purchase or refinance may not meet certain underwriting guidelines. In these situations there are alternatives and with today's incredibly low long-term rates, hard money loans may be something to look at. Traditionally, hard money loans have high costs of entry (5 to 10 origination points) as well as high interest rate costs. However, today's long-term rates have changed this a bit and now provide attractive interest rates. These loans typically have a higher cost of entry than a traditional loan, but as they say, "nothing is free."