Direct Private Capital Group, Inc.

Hard money purchased loans are a type of loan where the investor purchases the loan from the borrower to allow the borrower to get out of debt. These loans generally have higher interest rates than other types of financing because they aren’t secured by collateral. The borrower must pay back the full amount of the loan plus interest within a specific time period.

Hard money purchased loans can be used for many purposes, but they’re most commonly used to pay off credit card debt or other unsecured debts that an individual or business may have incurred. This type of financing is often sought out by people who don’t have access to traditional financing options because their credit score isn’t high enough or they don’t have sufficient assets to secure a conventional loan.