Hard money lenders by state: usury, licensing, foreclosure speed and costs

Hard money is priced on the collateral, the exit — and the state. A lender in Texas gets a defaulted property back in two months; one in New Jersey may wait two years. Arkansas caps interest at 17% by constitution; a dozen states have no cap at all. Transfer taxes range from zero to more than 4%. These pages put the rules side by side for every state.

Each state page covers usury limits and business-purpose exemptions, lender licensing, the foreclosure process and typical timeline from the lender’s chair, post-sale redemption and deficiency rules, transfer and property taxes, and where investor activity concentrates — with the same orientation note everywhere: verify with counsel in the state, because these rules change.

New to hard money? Start with what a hard money loan is, what it costs and how to vet a lender.

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