Hard Money Lender

Definition

A lender who will give you cash quickly based on the property's value, not your credit score. The interest rates are steep because they know you're desperate.

Example Usage

We used a hard money lender to close quickly on the investment property.

Source: Real estate investing terminology

Related Terms

Beginner

estate

In real estate, it refers to the property and land you own; in legal terms, it's everything you leave behind when you die for relatives to argue over. Estate can mean anything from a sprawling mansion with manicured grounds to your accumulation of assets and debts that someone has to sort through. Basically, it's either where you live large or what lawyers divide up after you're gone.

🏠 Real Estate

Intermediate

holdover tenant

A tenant who remains in possession of property after their lease expires without the landlord's permission. The houseguest who won't leave, except they're paying (or supposed to be paying) rent.

🏠 Real Estate

Advanced

recourse loan

A loan where the borrower remains personally liable even after foreclosure if the property sells for less than owed. It's the lender's insurance policy that you can't just walk away.

🏠 Real Estate

Beginner

CMA

Comparative Market Analysis—a report comparing similar properties to determine a home's market value. It's like Zillow's estimate, except prepared by an actual human who might know what they're doing.

🏠 Real Estate

Beginner

corridor

A narrow passageway that connects different spaces in a building or sometimes a physical strip of land that grants access between two locations. It's the organizational glue that prevents architects from creating maze-like nightmares—most of the time.

🏠 Real Estate

Beginner

Open House

A scheduled event where strangers wander through your home, judge your decorating choices, and eat your cookies with zero intention of buying. It's basically hosting a party where the guests critique your life.

🏠 Real Estate

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