Loans

Can I Purchase a Primary Residence with a Hard Money Loan?

You are looking to buy your first home. You have been to every bank and credit union in town but cannot seem to arrange a mortgage. You have tried mortgage brokers too, but no luck. Then someone suggests you get a hard money loan. You start digging around only to be more confused than when you started. Now you have but one question: can I purchase a primary residence with a hard money loan? Yes, no, or maybe. Are you even more confused now? If so, you are not alone. There are tons of articles online describing hard money in so many different ways that it can be hard to keep up. The reality of the hard money game is that lenders are free to operate their businesses as they see fit. Hard money lenders are private lenders, so they don't have to follow the same rules that apply to banks ...

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