Hard money loans, also known as private loans, rehab loans, bridge loans, private money loans and construction loans, are a form of financing available to purchase and repair a distressed investment property for the purpose of fix and flip or fix and rent. Hard money loans do not conform to conventional underwriting standards and are not typically offered by banks or mortgage brokers. One unique attribute of hard money loans is that real estate financing is made available for the repair of the distressed property in addition to the purchase cost. Another attribute is that the hard money loan amount is based on the future “after repaired value” of the property verses the “as-is” value. Due to these factors a borrower can access a much higher amount of leverage for a distressed real estate purchase than what would be available through more traditional financing.