Bridge Loan Vs Hard Money Loan

Are they Same?

Similarities

Short Term

1.

Both are typically short-term, or temporary, loans as opposed to long-term mortgages.

Property-secured

2.

Both are based on property value without taking the borrower's credit score under consideration.

Quick

3.

Both Loans are funded quickly as it's based on property value.

Flexible repayment terms

4.

Both can usually be structured to fit the borrower’s circumstances while still satisfying the lender.

The Differences

Lenders

1.

While hard money loans are always made by private lenders, conventional lenders will sometimes offer bridge loans.

Bridge Loan are Hard Money Loan

2.

While most bridge loans are also hard money loans, this is not always the case.

Interest Rates

3.

Bridge loans and Hard money both have high interest rates, but bridge loan might be slightly lower. With a good hard money lender it can be same.

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