Are “hard money loans” meant only for real estate?

Key Takeaways. Hard money loans are primarily used for real estate transactions and are money from an individual or company and not a bank. A hard money loan, usually taken out for a short time, is a way to raise money quickly but at a higher cost and lower LTV ratio.

What are the 4 types of loans?

Types of secured loans

• Home loan. Home loans are a secured mode of finance that give you the funds to buy or build the home of your choice. …
• Loan against property (LAP) …
• Loans against insurance policies. …
• Gold loans. …
• Loans against mutual funds and shares. …
• Loans against fixed deposits.