Philadelphia 2024 - Top Hard Money Lenders

Philadelphia, Pennsylvania
Market Trends & Data
1yFollow

Philadelphia 2024 - Top Hard Money Lenders

Cameron K.
Member since 2022 · 16 posts · 9 votes

Top 25 "hard money" lenders (Philadelphia loans only) by volume.

1. I FUND CITIES

2. KIAVI

3. ROC360

4. CONSTRUCTIVE CAPITAL

5. DIRECT MORTGAGE LOAN COMPANY

6. ASSET BASED LENDING

Note: Hard money is defined as average loan size under $2M, average loan hold duration under 2 years, and not a bank.

3Reply
177 views

Most Popular Reply

Stuart UdisPro Member
Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
1y

Not here to provide an  endorsement or be critical of the lenders on this list but volume is not by any means an indicator I would rely upon when selecting my banking relationships. It may prove they lend but that's about all this list confirms. Lending capacity should only matter to those with large borrowing needs and require large legal lending limits but that wouldn't apply to hard money lenders anyway. There are lenders out there spending a ton on advertising with an army of correspondent's funneling them loans and many can very well be one and done borrowers because the loan servicing/construction admin is lousy. 

[email protected]
3Reply
See this reply in the discussion

8 Replies

Jump to latestLatest
  • Stuart UdisPro Member
    Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
    1y

    Not here to provide an  endorsement or be critical of the lenders on this list but volume is not by any means an indicator I would rely upon when selecting my banking relationships. It may prove they lend but that's about all this list confirms. Lending capacity should only matter to those with large borrowing needs and require large legal lending limits but that wouldn't apply to hard money lenders anyway. There are lenders out there spending a ton on advertising with an army of correspondent's funneling them loans and many can very well be one and done borrowers because the loan servicing/construction admin is lousy. 

    [email protected]
    3Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    1y
    Quote from @Cameron K.:

    Top 25 "hard money" lenders (Philadelphia loans only) by volume.

    1. I FUND CITIES

    2. KIAVI

    3. ROC360

    4. CONSTRUCTIVE CAPITAL

    5. DIRECT MORTGAGE LOAN COMPANY

    6. ASSET BASED LENDING

    Note: Hard money is defined as average loan size under $2M, average loan hold duration under 2 years, and not a bank.


     Curious where you pulled the information from?

    7e investments53 Reviews
    WebsiteView Page
    0Reply
  • Cameron K.
    OP
    Member since 2022 · 16 posts · 9 votes
    1y
    Quote from @Stuart Udis:

    Not here to provide an  endorsement or be critical of the lenders on this list but volume is not by any means an indicator I would rely upon when selecting my banking relationships. It may prove they lend but that's about all this list confirms. Lending capacity should only matter to those with large borrowing needs and require large legal lending limits but that wouldn't apply to hard money lenders anyway. There are lenders out there spending a ton on advertising with an army of correspondent's funneling them loans and many can very well be one and done borrowers because the loan servicing/construction admin is lousy. 


    Completely agree with you on this; I'm not making any claims to the quality of these lenders here. Borrowers should always shop around, especially in the hard money space where it is so easy to quickly get preliminary terms over the phone.

    0Reply
  • Cameron K.
    OP
    Member since 2022 · 16 posts · 9 votes
    1y
    Quote from @Chris Seveney:
    Quote from @Cameron K.:

    Top 25 "hard money" lenders (Philadelphia loans only) by volume.

    1. I FUND CITIES

    2. KIAVI

    3. ROC360

    4. CONSTRUCTIVE CAPITAL

    5. DIRECT MORTGAGE LOAN COMPANY

    6. ASSET BASED LENDING

    Note: Hard money is defined as average loan size under $2M, average loan hold duration under 2 years, and not a bank.


     Curious where you pulled the information from?


     I don't want to violate any of the self-promotion rules on this thread by specifically linking or name-dropping, but it's from a data analytics platform I am working on specifically built for tracking construction, debt, and ownership activity in the Philadelphia region.

    I will be posting more detailed insights soon.

    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    1y
    Quote from @Cameron K.:
    Quote from @Chris Seveney:
    Quote from @Cameron K.:

    Top 25 "hard money" lenders (Philadelphia loans only) by volume.

    1. I FUND CITIES

    2. KIAVI

    3. ROC360

    4. CONSTRUCTIVE CAPITAL

    5. DIRECT MORTGAGE LOAN COMPANY

    6. ASSET BASED LENDING

    Note: Hard money is defined as average loan size under $2M, average loan hold duration under 2 years, and not a bank.


     Curious where you pulled the information from?


     I don't want to violate any of the self-promotion rules on this thread by specifically linking or name-dropping, but it's from a data analytics platform I am working on specifically built for tracking construction, debt, and ownership activity in the Philadelphia region.

    I will be posting more detailed insights soon.


     I sent you a connection request

    7e investments53 Reviews
    WebsiteView Page
    0Reply
  • Mike Klarman
    Specialist · NJ · Member since 2022 · 1k+ posts · 653 votes
    1y

    I've closed a bunch of loans with Kiavi, Roc, and a few with ABL, I also closed with RCN, Easy Street, Lima One, and some smaller private lenders.

    I've come to the conclusion that the experience at the lender is not globally good or globally bad.  I've had smooth loans close with Kiavi and I've had rough ones, same with Roc.

    When Loans start to be troublesome:

    1) The borrowing entity docs are a mess

    2) The appraisal numbers are lower than expected

    3) Messy background reports

    4) Loans happening in an environment where market/rate fluctuating unpredictably 

    5) Your loan officer and their team are poor at their job

    6) Title issues that depend on county docs, that can be slow and painful

    There's more but it's Friday and I'm tired....

    1Reply
  • Greg Kasmer
    Rental Property Investor · Philadelphia, PA · Member since 2021 · 778 posts · 504 votes
    1y

    @Mike Klarman - Thanks for your guidance. I know that you do a great job smoothing out any "rough spots" in the lending process, so that certainly helps when the deal starts to go sideways... 

    0Reply
  • Mike Klarman
    Specialist · NJ · Member since 2022 · 1k+ posts · 653 votes
    1y

    Thx Greg.  See ya Sunday morning!

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free