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Hard Money Loan
Hard money loans are short-term loans based on assets of the borrower. In other words, the value of the borrower’s property is as collateral. A hard money loan is a quick way to bridge the financial gap but comes with a higher cost for the debtor. Unlike conventional loans, lenders are individuals and companies.
House Hacking
House hacking is a real estate investing phrase for renting multifamily units while living in the same space. Although the term is often applied to multifamily homes, it is not uncommon for single-family homes. The landlord reduces housing costs while easing into the rental business.
Home Warranty
A home warranty is an annual service contract that pays for replacement or repair in the house. A home warranty covers expected expenses that may arise in the future throughout the home. Companies providing home warranty services are often hired within a purchase process.