The medium-term private hard money lender will loan for as long as 36 months to 60 months giving you the opportunity to establish the rental history and season the property, preparing for a long-term mortgage of 15 to 30 years from a conventional lender. The advantage of the medium term private hard money lender is facilitating the purchase or refinance of a property, enabling you to 2 to 3 years later acquire conventional funding with cash-out based on property appreciation, cash flow, and standard credit. Interest rates for this type of lender are generally slightly lower than the short term lender.