Best hard money lender for fix and flips

Philadelphia, Pennsylvania
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Best hard money lender for fix and flips

Ben Chung
Flipper/Rehabber · Philadelphia, PA · Member since 2017 · 10 posts · 9 votes

What's your opinion on the best Hard Money Lenders for fix and flips? Let's say for a beginner flipper (only 1 completed deal in the last 3 years)

Looking for: Best rates, lowest points, highest ARV LTV, highest LTC, etc

I know many HML have different incentives/perks for more experienced flippers but who do you think is the best for the beginner. (Not first time, just beginner)

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John O'LearyPro Member
Lender · Winter Park, FL · Member since 2021 · 737 posts · 412 votes
2y

Under the "Build Your Team" tab at the top of bigger pockets is a Hard Money Lending directory. There are plenty of great lending options in there. Pick up the phone and call around. Don't just focus on numbers, find someone who understands the business and can give you real insight. 

[email protected]800-663-4122
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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    3y

    just have to dial for dollars. 

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    3y

    @Ben Chung

    Check out scotsmanguide.com and just start calling

    7e investments53 Reviews
    WebsiteView Page
    0Reply
  • Dennis Muno
    Lender · Denton, TX · Member since 2023 · 349 posts · 80 votes
    3y
    Quote from @Ben Chung:

    What's your opinion on the best Hard Money Lenders for fix and flips? Let's say for a beginner flipper (only 1 completed deal in the last 3 years)

    Looking for: Best rates, lowest points, highest ARV LTV, highest LTC, etc

    I know many HML have different incentives/perks for more experienced flippers but who do you think is the best for the beginner. (Not first time, just beginner)


     Hello Ben,

    The only way to know would be to check a couple of reviews and perhaps call a couple of hard money lenders to see who has the best rate, ARV, LTV, highest LTC.

    Keep in mind: everyone's pricing will be different. Things like your FICO, experience level, cash on hand, budget, ARV, if working alone/with a partner, if closing the loan in LLC, are what will determine your pricing with every lender.

    So, it isn't only about who does the best rates, ARV, LTV. Your financials will determine your pricing. So call a couple of lenders, give them a call, give them your financials when they ask, and then get pricing.

    1Reply
  • Robin SimonBusiness Member
    Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
    3y
    Quote from @Ben Chung:

    What's your opinion on the best Hard Money Lenders for fix and flips? Let's say for a beginner flipper (only 1 completed deal in the last 3 years)

    Looking for: Best rates, lowest points, highest ARV LTV, highest LTC, etc

    I know many HML have different incentives/perks for more experienced flippers but who do you think is the best for the beginner. (Not first time, just beginner)


     I would just chime in and add "Speed" to the list - a lot of times closing a deal quickly and being able to beat cash offers is key to getting the best deals, so speed to close (including if a appraisal or not is required is often very important too)

    [email protected]
    Harpoon Capital514 Reviews
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    1Reply
  • AJ ExnerPro Member
    Lender · Springfield, MO · Member since 2023 · 651 posts · 314 votes
    2y

    Hey Ben,

    Saw this pop up and wanted to see if you were able to hone in on anything. There are so many options in this space and it can become a lot really quickly, and usually every program varies on those different perks that you mentioned, not to mention having other perks like deferred interest payments.

    Are there some ballpark terms that you are hoping for?

    [email protected]417-427-2612
    0Reply
  • John O'LearyPro Member
    Lender · Winter Park, FL · Member since 2021 · 737 posts · 412 votes
    2y

    Under the "Build Your Team" tab at the top of bigger pockets is a Hard Money Lending directory. There are plenty of great lending options in there. Pick up the phone and call around. Don't just focus on numbers, find someone who understands the business and can give you real insight. 

    [email protected]800-663-4122
    1Reply
  • Ethan Gidcumb
    Lender · San Diego, CA · Member since 2022 · 130 posts · 75 votes
    2y

    Hey Ben, I hope you were able to find a lender for your investment! But, in the case you didnt I would like to give you perspective on what we lend on for first-timers. For a fix and flip: we lend, 70%-75% LTV to Purchase Price + 100% LTV to Rehab, rates for first timers are usually 12-13% (Non-dutch), points are 2.5%-3%, closing times are 5-10 days.

    Hopefully this helps, good luck on your next flip!

    1Reply
  • Ryan Davies
    Investor · Salt Lake City, UT · Member since 2019 · 339 posts · 126 votes
    2y

    Most work as follows:

    • Rates: 10% to 14% (Most Deals are 12%)
    • Terms: 1 Day - 24 Months (Most Deals are 6 months)
    • Fees: 3-5 points(%) of loan amount (Most Deals are 3 points(%)) - $2500 minimum fee
    • Minimum Loan Amount: $75,000
    • Max Loan: 65-70% of After Repair Value(ARV)
    • 100% Rehab Financing Available (Most Deals require 10-20% of purchase price down or cross-collateral)
    • Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 7-10 business days)
    • NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.
    1Reply
  • Aryia BalaBusiness Member
    Lender · 26 Harbor Park Dr Port Washington, NY 11050 · Member since 2023 · 49 posts · 9 votes
    6mo

    Check out LenderLink - They aggregate/organize all the top lenders in the space and keep all their granular information up to date.

    [email protected]866-611-4206
    Malve Capital LLC4.759 Reviews
    WebsiteView Page
    0Reply
  • Edgar Fernandez
    Member since 2026 · 10 posts · 0 votes
    6mo

    We have REI hard monet at a 65% LTV and Equipment financing at a 100% LTV.
    Here is our program and recently closed deals (We have $500M to deploy, and a great referral program):
    https://docs.google.com/document/d/1mFrzf1mi-9SVCuLLPbtX_Y0zQCba8_BB/edit?usp=sharing&ouid=116049151608583411546&rtpof=true&sd=true

    0Reply
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