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Easy Street Capital
5.0
2 reviews
5.0
2 reviews
Easy Street Capital
Easy Street Capital is a relationship lender with loan programs for every borrower. Regardless of experience or credit we are able to finance your next investment. Whether you are buying a property to fix up, building new construction, or generating cash flow from rental units Easy Street Capital has the solution. As a fully discretionary lender we have the ability to customize a loan specifically to meet your individual needs. We look forward to assisting you with your next project. You can apply for a loan today: https://www.easystreetcap.com/bigger-pockets
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LendingOne, LLC
4.0
11 reviews
4.0
11 reviews
LendingOne, LLC
Lending One is one of the largest direct private lenders in the country. Call (866)-724-7555 for a no-obligation quote. We offer Fix/Flip, Rental, Multi-family and New Construction loans. We lend in 45 states and help investors from small to large (loans from $75,000 - $30,000,000). You can search BiggerPockets to see why customers love working with us! Low rates, fast closings, and great service. - Fix/Flip Loans - Rental Loans - 30 Year Fixed Rate Up to 75% LTV (Single Property & Portfolios) - New Construction Not a broker nor a bank, but a fully funded lending partner that can close consistently and help you grow your business. LendingOne uses our own capital, an easy online application, and our extensive real estate experience to provide quick and reliable funding for our clients. Our experienced management team truly understands the real estate business and has taken an investor-friendly approach to the lending business. We are self-funded, allowing us to move quickly and finance your project using 100% of our own capital. With our proprietary technology, we have streamlined the real estate lending process. At the click of a button you can be pre-qualified for our competitive rates. Pre-Qualify online 24 hours a day, seven days a week and we will get you to the closing table in as little as ten days. https://app.lendingone.com/ - 2 Minute online quote Call (866)-724-7555
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Accolend
5.0
1 reviews
5.0
1 reviews
Accolend
**NO POINTS Programs. Rates from 9.99%.** Hard Money, Rental, Ground Up and Bridge Loans. Call us at 201-643-6650 x1 or visit at https://accolend.com Accolend is experienced direct private lender. We offer unique Fix and FLip, Ground Up and Bridge programs with NO POINTS. We also offer low costs Rental loans. We offer hard money, ground up or bridge financing from 8.99% rate for programs with points and from 10.99% rate for no points programs., 75-85% LTV for purchase and up to 75-85% construction cost, and transparent 3rd party upfront costs. Our Rental Loans start from 8.29% rate. We offer fast and reliable service and can fund within 5-10 business days. If you are looking for 100% financing, we are not going to be able to help. But if you are looking for a low cost of funds, no points, good service and full transparency on cost - you will find a good fit with us. you can find more information at https://accolend.com
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140
forum posts
Aloha Capital
2 reviews
2 reviews
Aloha Capital
--- GET IN TOUCH --- CALL: (303) 245-0291 SCHEDULE 1-ON-1 MEETING: https://meetings.hubspot.com/alohacapital-kevin/initial-meeting APPLY FOR LOAN: https://alohaprivatelending.com/borrow/borrower-contact/ ASK A QUESTION: [email protected] JOIN OUR WEEKLY WEBINAR: https://alohaprivatelending.com/borrow/webinar-alohalearn/ Aloha Capital was created by real estate investors, for real estate investors. We offer fast, flexible and reliable financing at competitive rates to help you leverage your experience and take advantage of real estate investment opportunities. We are a direct lender funding loans nationwide from our in-house investment fund. We finance stable, value and ground up development projects on single-family, townhome, condo, multi-family and mixed-use properties. Quick response. Quick close. Loan Types (As of 1/1/2023): - RENTAL PROPERTY LOANS: Rates as low as 7.00%. 30-year fixed rate or ARM loan on purchase or refinance (Max 80% LTV) and cash out refinances (Max 75% LTV). 30 Year Amortization 10 Year IO with 20 Year Amortization. Flexible Prepayment Options. Quick Closes. No DTI Requirements. Qualify with FICO and DSCR of the property(s). SHORT TERM RENTALS ALLOWED! With or without 12 months rental history. Syndicated ownership allowed. - RESIDENTIAL FIX & FLIP + BRRRR LOANS: Up to 100% of purchase, 100% of rehab up to 75% ARV. Rates start at 9.99%. Quick Closes. 12 month term. - MULTIFAMILY VALUE-ADD: up to 80% of purchase, 100% of rehab up to 70% Stable Value. Rates start at 9.99%. Syndicated ownership allowed. - GROUND UP DEVELOPMENT: up to 85% of total project cost for infill residential projects with exit values up to 1.5X median MSA values. Rates start at 9.99%.
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MoFin Lending
5.0
28 reviews
5.0
28 reviews
MoFin Lending
Specialties: Hard Money, Commercial Mortgages, Portfolio Lending
MoFin is a direct lender. Call us at 866-900-6634 or email [email protected] for rehab-to-hold, fix & flip, and 30 yr rental loans. Finance your BRRRR deal start to finish with us. Experience helps and credit matters! We do not look at your personal income . We're primarily an asset based lender, though we do take your credit into account. Our underwriting process is flexible and forward-thinking. We aim to close as soon as possible. For purchases, we do require the down-payment is coming from you. Our minimum credit score is 620 and our minimum loan amount is $100k. Please feel free to visit our website or contact us directly at [email protected] or (866)-900-6634 for more information.
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13
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920
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A to Z Capital Inc.
5.0
3 reviews
5.0
3 reviews
A to Z Capital Inc.
A to Z Capital Inc. is your one stop shop for all your real estate investments. We do everything from hard money, jumbo hard money ($1million+), cash-out refinance, long-term financing, fix n flip, and much more! All property types, loans from 50K to 25 Million. Buy-Fix-'n' Flip loans with up-to 90% financing on both the purchase and rehab costs. 30 year fully amortized rental property loans. Cash-Out Refinance, no income documentation with rates starting at 6.5%. Ask about our NO seasoning products for refinance deals. We currently offer 11 different loan programs aimed to fit every possible loan scenario. If we don’t offer it, chances are it does not exist. Each and every deal is analyzed on a case by case basis. Here at A to Z Capital, we do every type of real estate loan. Including: -Hard Money -Air BnB Purchase/Refi -Cash out Refinances -Primary Residence (FHA, VA, Freddie Mac, Fannie Mae, Conventional) -ONLY IN FL -Reverse Mortgages (ONLY IN FL) -Buy Fix N Flip -Ground-Up Construction -And many others... Call us with your scenario today! 561-609-6699 Johanna Fonseca NMLS#1708916 A to Z Capital, Inc. NMLS #1761721 Contact us at 1 (561) 609-6699 today.
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What Is A Hard Money Lender?

A hard money loan is an asset-based loan. One of the biggest factors affecting the approval of a traditional loan is your credit history and income. Lenders want a candidate that possesses a reputable re-payment history because this demonstrates the consumer’s ability to repay loans.

However, a great credit score and a lot of income is not always guaranteed an approval and the overall process can sometimes take a long time. Hard money lenders utilize a different approach by lending funds based on collateral and therefore, the lender places less emphasis on credit history. Hard money loans are not for everyone, but there are several situations where these loans make sense.

Strategies Using Hard Money

There are different instances when a real estate investor will be more likely to use a hard money loan versus a traditional loan. Real estate investors might find themselves using a hard money loan in the following instances.

Fix & Flip
One of the most important things to understand when considering hard money is that each lender considers things differently than the next lender. Each lender is going to have his/her own criteria but most of them will base their loan off of a percentage of the after repair value or AVR. The following could also be considered when looking at a hard money loan:

  • Independent appraisers AVR
  • In-house AVR
  • Percentage of total costs
  • Percentage of the purchase price of the property
All lenders are different so be prepared for the hard money lender to consider any combination of the above before settling on the loan.
BRRRR
If you are a real estate investor looking to execute the BRRRR strategy then the first thing you are going to want to do is secure a lender. One of the biggest mistakes that real estate investors make in the BRRRR strategy is only looking for a lender right when they need one. The best thing that you can do for yourself is to begin searching for, vetting and building a relationship with a lender as early in the process as possible. Meeting with lenders earlier will highlight any issues you might have with credit or income that you might need to get fixed before you really need the money for repairs. Getting this handled early will save you a big headache in the future.
Short Term Financing
A short term loan is the traditional loan when a real estate investor is fix and flipping a property. With this type of loan you will typically only have 2-3 months to rehab and then resell your property for a profit. Short term financing is a good idea for properties that have a lower volume of fixes and repairs before putting the property back up for sale. Due to the short time period before the loan expires, you don’t want to get caught up with too many long term projects and have time run out. This would be homes that only need cosmetic repairs, upgraded appliances or minor repair work.

Questions To Ask A Hard Money Lender

Based on the best practice of reaching out to multiple lenders, you will want to make sure you have a proper list of questions available to you to vet out which lender is best for you. Here are some questions that you should ask a potential lender:

  • Are you the actual lender or just a broker?
  • Do you check personal credit? What score are you looking for?
  • What project details and documents do you need to make a quote?
  • How long will it take to get a quote?
  • Where does your money come from? Is this money in your control or do you receive it from a third party?
  • What happens if my loan needs to be extended?
  • How do you handle interest? Is it upfront, monthly or at the end?
What is Hard Money and How Does it Work? 10 Questions on Hard Money Loans Hard Money Buying Worksheet Hard Money Upfront Fees: Should You Pay Them? Understanding the Benefits and Risks of Hard Money Interview with Hard Money Lender, Kevin Amolsch Using Hard Money Lenders to Grow Your Business: Podcast with Ann Bellamy

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