Private Real Estate Loans Frequently Asked Questions
Most Common Hard Money Loan Questions
What is a hard money loan?
A hard money loan (or private real estate loan) is short‑term, asset‑based financing secured primarily by real estate. Unlike traditional bank loans, approval is based more on the property’s value and investment deal than on the borrower’s credit score or income.
What is Mass Hard Money and what types of loans do you offer?
Mass Hard Money is a Boston‑based private real estate lender that provides short‑term hard money financing for real estate investors, developers, contractors, and flippers. They specialize in private real estate loans and fix‑and‑flip financing to help clients act quickly on investment opportunities.
Who typically uses Mass Hard Money’s services?
Investors, developers, contractors, and real estate professionals who need fast, flexible financing for time‑sensitive deals. Such as fix‑and‑flip projects, property acquisitions, or refinance situations.
How quickly can I receive a loan terms sheet or approval?
If you meet the necessary requirements, Mass Hard Money can provide a loan terms sheet within 24 hours of your inquiry, allowing you to move on your deal quickly.
What types of properties are eligible for financing?
Mass Hard Money lends on most types of non‑owner occupied properties, which typically include investment properties like single‑family rentals, multi‑unit dwellings, mixed‑use buildings, and commercial real estate.
What are common loan terms and durations?
Hard money loans are typically short‑term, often around one year with options for extensions. Mass Hard Money’s structure is designed for timely projects and quick exits.
How does the application process work?
To start, contact Mass Hard Money by phone, email, or through their website to discuss your project. If you meet initial requirements, you can receive a preliminary terms sheet quickly and proceed with documentation and underwriting.
Is my credit score a major factor in qualifying?
Hard money lenders like Mass Hard Money focus more on the strength of the investment deal and property value rather than solely on personal credit history. This allows for flexibility in financing for borrowers who may not qualify for traditional bank loans.
How is a hard money loan different from a traditional bank loan?
Hard money loans are typically funded faster with less paperwork and more flexible criteria than traditional bank loans. They are short‑term, asset‑based, and designed for investors who need to close deals quickly, whereas traditional loans usually require more extensive documentation, credit review, and longer approval timelines.
What types of loans does Mass Hard Money provide?
Mass Hard Money offers a variety of short-term real estate financing options, including fix-and-flip loans, bridge loans, construction loans, and commercial hard money loans. These loan types are designed to help investors purchase, renovate, or refinance properties quickly and efficiently.