Hard Money Loans usually are a very route to financing your fix and flip deals. These type of loans are usually based on the property’s value, both As Is and After Repaired Value and not as much on the buyer’s qualifications. These types are most expensive than traditional loans issued by banks. However, these types of loans usually involve much less paperwork and in many cases your income is not a requirement. There is no DTI requirement involved with traditional bank loans. These loans can usually be closed very quickly, sometimes in days. Banks on average require one to two months depending on the bank, borrower, and transaction. Additionally these types of loans are known as “bridge loans” meaning they are short term loans designed to assist the acquisition of a property for a real estate investor. The real estate investor usually then remodels the property and sells it on the market afterwards.