Pacific Mortgage Exchange , Inc. of Palm Desert, CA has been your devoted hard money lender for over 20 years! Pacific Mortgage Exchange , Inc.’s reliable hard money loan programs make the process of investment funding fast and convenient and enables clients nationwide with income-producing properties to receive funding in a short period of time with our simplified loan process. What is a Hard Money Loan? By definition a hard money loan is a very specific type of loan that revolves around asset-based loan financing by which a borrower will receive funds secured by the value of owned real estate. Hard money loans will typically be issued under private investors or companies (such as ourselves), as opposed to banks. Because of this, the interest rates of hard money will generally be higher than more conventional commercial or residential property loans. The reasoning behind this lies in the riskiness of the loan that is issued by the lender. Most hard money loans are used for short-term projects typically lasting from a few months to no more than a few years. The criteria that is gauged when considering a good candidate for a hard money loan varies largely by the various lenders and purpose, however, most hard money lenders primarily qualify this type of loan based on the value of the real estate being collateralized, although credit scores, income and other conventional criteria may still be added into the loan evaluation.