Hard money loans typically have short repayment terms, usually ranging from 6 months to 3 years. However, most lenders try to structure their loans up to 1 year, depending on the borrower’s needs and the lender’s policies. Hard money loans are designed for short-term financing, often used by real estate investors for fix-and-flip projects, fix-and-hold or bridge loans.  Many borrowers that have investment residential properties and commercial buildings prefer the flexiblity of a hard money loan over tranditional lending sources.