Hard money loan

Short-term, high-rate loan from a private lender, secured by the property.

Hard money funds fast (often 10 days) based on the asset, not your W-2. Typical terms: 8-12% interest, 1-3 points origination, 6-24 month term, interest-only. Used for flips and BRRRR acquisition where the long-term loan happens at refi.