Hard Money Lender

The Hard Money Closing Process

Hard money loans offer a quicker transaction than you’d get with conventional mortgage lending. The requirements for a loan are simple, as well, and the closing process is typically going to be much easier because there is much less paperwork involved. In order to make sure that the process goes as smoothly as possible, you should prepare yourself and know what to expect at the closing table.

The hard money closing process can involve the following types of documentation:

Promissory Note

This is a simple agreement of the payment terms of the loan, including dates and amounts of payments agreed upon. There will also be rules regarding how the trustee operates on both the lender and borrower’s behalf. It is essentially an IOU from the borrower to the Lender.


Often, people refer to a loan as a “mortgage,” but a mortgage is not actually a loan. The mortgage is a contract between the borrower and the investor, which pledges the property as collateral or security for the loan.

Closing Statement

This statement is required by federal law, and will disclose all of the fees and costs associated with the transaction. It is designed to make sure that all payments, …

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