Estate Financing Loan Mortgage Real
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Equity loan - An equity loan is a mortgage placed on real estate in exchange for cash to the borrower. For example, if a person owns a home worth $100,000, but does not currently have a lien on it, they may take an equity loan at 80% loan to value (LVR) or $80,000 in cash in exchange for a lien on title placed by the lender of the equity loan.
Commercial mortgage - A Commercial Mortgage is a loan made on real estate collateral, other than a residential property, in which a mortgage is given to secure payment of principal and interest, or just interest alone.
Hard money loan - A Hard Money Loan is a specific type of financing in which a borrower receives funds based on the value of a commercial real estate property. Hard money loans are typically issued at much higher interest rates than standard commercial or residential property loans and are almost never issued by a standard commercial bank.
Gap financing - Gap Financing is a term mostly associated with mortgage or property loans. It is an interim loan given to finance the difference between the floor loan and the maximum permanent loan as committed.
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