The best hard money lenders should offer competitive rates and terms, flexible qualification requirements, and quick access to funds that can provide financing opportunities for real estate investments. Since the best hard money loans will be different for everyone, we’ve selected lenders that issue funding for various property types and have flexible eligibility criteria, with many offering the ability to work with first-time investors.
Here are our top six picks for the best hard money lenders:
- Kiavi: Best overall for competitive rates and easy approval process
- Flip Funding: Best for borrowers with low credit scores
- Easy Street Capital: Best for borrowers needing quick access to funds
- AMZA Capital: Best for large loans and flipping multiple properties quickly
- RCN Capital: Best for experienced investors
- Center Street Lending: Best personalized service for seasoned investors
Best Hard Money Lenders at a Glance
Kiavi: Best Overall for Competitive Rates & Easy Approval Proces
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Rates & Terms | |
Estimated Starting Interest Rates | 8.25% |
Loan Amount | $100,000 to $3 millionn |
Loan Term | 12, 18, and 24 months |
Loan Repayment Method | Interest-only with balloon payment |
LTV, LTC & ARV | 95% LTC, 80% ARV |
Loan Fees & Closing Costs | 1.5% to 2% of the loan amount |
Time to Funding | As fast as 7 business days |
Qualifications | |
Credit Score | 660 |
Flipping Experience Required? | No |
Why We Like Kiavi
Kiavi offers fix-and-flip loans for the purchase or rehab of investment properties. It offers low starting rates, the lowest of our guide in fact, and offers a simple application process with no application fees and no appraisal requirement. Also, it can approve loans with no income verification. For these reasons, it made our list as the best overall pick.
Its fix-and-flip loans can be used for a new purchase, a delayed purchase refinance, or a seasoned finance on a nonowner-occupied property as follows:
- New purchase: Funds can be used to purchase the property and pay for renovation costs.
- Delayed purchase refinance: If you used your own money to initially purchase a property, this loan restores your original cash position within six months of the property purchase.
- Seasoned finance: If you’ve owned the property for more than six months, this loan can give you additional funds to complete your fix and flip.
As you work with Kiavi and gain more experience as an investor, you’ll also get more benefits. For example, investors with at least five closed deals in the past 24 months can qualify for a dedicated account manager to oversee faster closings and offer discounted closing fees.
To learn more or to apply, visit the Kiavi website. You can get prequalified online with a soft credit pull that has no negative impact on your credit score. There are also no application fees, upfront costs, or obligations to accept any loan offers.
Flip Funding: Best for Borrowers with Low Credit Scores
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Rates & Terms | |
Estimated Starting Interest Rates |
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Loan Amount |
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Loan Term |
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Loan Repayment Method | Interest-only with balloon payment |
LTV, LTC & ARV |
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Loan Fees & Closing Costs | 2% to 5% of the loan amount |
Time to Funding | 10 to 14 days |
Qualifications | |
Credit Score |
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Flipping Experience Required? | No |
Why We Like Flip Funding
Flip Funding makes our list as the best option for borrowers with lower credit scores who have large financing needs and need flexible qualification requirements. Although Easy Street Capital has one of the lowest minimum credit score requirements in this guide, we chose Flip Funding for its overall flexibility and variety of loan offerings. Also, compared with the other lenders in this guide, Flip Funding can offer the largest amount of financing in the shortest amount of time with the longest repayment period.
It offers various loan programs such as fix-and-flip loans, bridge loans, as well as multifamily/mixed-use loans. It can also provide financing to foreign nationals and first-time investors. Details on loan terms, rates, and other eligibility requirements are listed on the lender’s website.
The application process is simple and is usually reviewed within the same day. You can visit the Flip Funding website to learn more about loan offerings or submit an application.
Easy Street Capital: Best for Quick Access to Funds
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Rates & Terms | |
Estimated Starting Interest Rates | 9.90% to 11.90% |
Loan Amount | $75,000 to $2 million |
Loan Term | 6 to 12 months (with extension options) |
Loan Repayment Method | Interest-only with balloon payment |
LTV, LTC & ARV |
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Loan Fees & Closing Costs | 2% to 3% of loan amount |
Time to Funding | As little as 48 hours |
Qualifications | |
Credit Score | 600 |
Flipping Experience Required? | No |
Why We Like Easy Street Capital
Easy Street Capital offers a variety of financing options, including fix-and-flip loans, rental loans, and construction loans. Its fix-and-flip loan program, known as “EasyFix,” offers competitive starting rates and has a quick disbursement and approval timeline, making it a viable option for investors who are looking to close quickly and may be competing with other offers for a property. In fact, we chose it as one of our top picks because it has the quickest funding speed within this guide.
It’s also worth noting that this provider offers the lowest minimum credit score requirement on our list, making it accessible to a wide variety of borrowers. Financing opportunities are available nationwide, with a few exceptions. You can visit Easy Street Capital’s website to ensure financing is offered within your state.
Notably, there are no appraisal requirements or prepayment penalties necessary to facilitate the loan, saving you more money in applicable fees. Eligible property types include residential properties with 2-10 units. The application process is simple and requires little documentation. Upon review and approval of your application, you’ll be provided with a term sheet within 24 hours. To learn more, visit the Easy Street Capital website and submit an application, or speak to a representative.
AMZA Capital: Best for Large Loans & Flipping Multiple Properties Quickly
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Rates & Terms | |
Estimated Starting Interest Rates | 10% to 13% |
Loan Amount | $50,000 to $50 million |
Loan Term | 12 months to 24 months, 6 month extensions |
Loan Repayment Method | Interest-only with balloon payment |
LTV, LTC & ARV | 80% LTC |
Loan Fees & Closing Costs | 2% to 5% lender fees plus $999 closing costs |
Time to Funding | 2 to 4 weeks |
Qualifications | |
Credit Score | 650 |
Flipping Experience Required? | Preferences for experienced flippers with 5-plus flips; can work with first-time flippers with a mentor and a licensed contractor |
Why We Like AMZA Capital
AMZA Capital is a hard money loan lender that provides for fix-and-flip investors looking to conduct rehabs on properties. Depending on your qualifications, needs, and goals, you can apply for its term loan or line of credit program.
Like Flip Funding, it offers higher loan amounts compared with other lenders listed here—and it’s set apart by its various loan programs. Allowable transaction types include refinances, cash-out transactions, straight acquisitions, and acquisition and rehabs; however, the minimum purchase price must be $75,000.
It made our list for investors looking to flip multiple properties in a short period or wanting access to larger funding amounts, as those needs can be fulfilled by AMZA Capital’s fix-and-flip credit line. You can get funding for single-family homes, condos, townhomes, and multifamily properties with fewer than 20 units. Keep in mind that approval and disbursement can take a few weeks, so it may not be the best option if you need funds immediately.
This lender has the flexibility to work with brand-new flippers—as long as they have a mentor and licensed contractor on the team. Visit the AMZA Capital website to learn more or to submit a loan application.
RCN Capital: Best for Experienced Investors
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Rates & Terms | |
Estimated Starting Interest Rates |
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Loan Amount |
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Loan Term | 12 to 18 months (fix-and-flip, multifamily) |
Loan Repayment Method | Interest-only with balloon payment |
LTV, LTC & ARV |
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Loan Fees & Closing Costs | 3% to 6% of the loan amount |
Time to Funding | 10 days |
Qualifications | |
Credit Score | 660 |
Flipping Experience Required? | No |
Why We Like RCN Capital
RCN Capital offers fix-and-flip loans for nonowner-occupied 1-4 family properties, townhomes, condos, multifamily homes, and mixed-used properties. Similar to Center Street Lending, flipping experience is not an absolute requirement with RCN Capital, but there are various benefits depending on the amount of experience you have, which is why it made our list as the best option for experienced investors.
That being said, the more experience you have with investment properties, the better the starting rate you may be eligible for. See the following:
Experience Level | Starting Interest Rate | |
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New | Up to 2 flips in the last 3 years | 10.99% |
Intermediate | 3 to 5 flips in the last 3 years | 10.49% |
Experienced | 10-plus flips in the last 3 years | 9.99% |
With RCN Capital, interest is only charged on the outstanding balance of your loan rather than the rehab holdback portion. This can be a way for you to save some money as you won’t be paying for funds you aren’t using. The lender also charges no prepayment penalties, so you can pay off the loan more quickly to further reduce your interest expenses.
In addition to the qualification requirements listed above, RCN Capital requires a minimum after-repair property value, which varies depending on the type of property being acquired. These minimums are listed below:
- $100,000 for single-family homes
- $100,000 for 2-4 family properties
- $350,000 for multifamily and mixed-use properties
As part of the application process, RCN Capital typically requires a set of standardized documentation. This can include a property appraisal, bank statements as proof of funds for a down payment, and renovation estimates. However, the application process is simple and can be completed online. You can visit the RCN Capital website to learn more.
Center Street Lending: Best Personalized Service for Seasoned Investors
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Rates & Terms | |
Estimated Starting Interest Rates | Varies |
Loan Amount | $100,000 to $10 million |
Loan Term | 6 to 24 months |
Loan Repayment Method | Interest-only payment options available |
Loan-to-Value (LTV), Loan-to-Cost (LTC) & After Repair Value (ARV) | 85% LTV, 85% LTC, 75% ARV (but may vary by loan program) |
Loan Fees & Closing Costs | 1% to 5% of loan amount (estimated) |
Time to Funding | As fast as 14 days |
Qualifications | |
Credit Score | 650, but may vary by loan program |
Flipping Experience Required? | Yes |
Why We Like Center Street Lending
A major benefit of working with Center Street Lending is that it offers in-house servicing and in-house fund control, features that allow it to provide a seamless personalized experience and a higher level of customer service. To be eligible for its lending programs, however, you’ll typically need to have a strong track record of success as an investor and good credit and finances. These reasons are what made it our choice for the best personalized service for seasoned investors.
Similar to RCN Capital, Center Street Lending offers different types of loan programs depending on your needs and goals. You can choose its fix-and-flip loans, rental property loans, bridge loans, or ground-up construction loans. Each may have varying rates, terms, and qualifications depending on your intended use of funds. Notably, when compared with the other lenders in this guide, it’s the only one with required flipping experience to be considered eligible.
To learn more or to begin the process, visit the Center Street Lending website. Once you complete the online process, you’ll be contacted by a loan origination manager within 24 hours to further discuss your needs.
How We Chose the Best Hard Money Loans
We used the following criteria in selecting the best hard money lenders:
- Interest rates and fees
- Required investor experience
- Minimum credit score and other qualification requirements
- Ease of application
- Eligible industries and nationwide availability
- Amount of financing offered
- Application, approval, and funding speeds
- Customer reviews and ratings
How to Choose a Loan Provider
When shopping around for an applicable hard money loan provider, there are a few factors you should consider before entering into a loan agreement. Consider the following:
- Determine your financing needs: Before choosing a lender, you should determine exactly how much funding you will need, how you plan to repay loan funds, and what you can afford as a monthly payment.
- Review qualification requirements set by the lender: Qualification criteria will vary from lender to lender. That said, it’s best to review their minimum requirement before submitting an application. Criteria such as credit score, time in business, and annual revenue are commonly considered. By meeting these criteria, you can increase your odds of approval.
- Compare loan rates and terms: To ensure you get the best deal and get loan terms that fit your budget, you should compare loan details, such as rates and fees, among the lenders you’re considering.
Alternatives to Hard Money Loans
Hard money loans won’t be the best financing option for everyone. In the event that you don’t qualify for a hard money loan or are simply exploring all of your financing options, you can consider the following alternatives:
- Investment property financing: You can use these types of loans to resell a property for a profit or to keep it for income-producing purposes as a rental. However, compared with a hard money loan, investment property financing can be more difficult to qualify for. Check out our top-recommended investment property loans.
- Commercial real estate (CRE) loan: There are a variety of CRE loans available for investment properties. If you don’t need funds quickly, a CRE loan can offer more competitive rates and fees while still allowing you to get cash to purchase, refinance, or renovate a property. You can learn more about how you can get the best pricing in our guide on CRE loan rates.
- Business line of credit: This can offer flexible financing options since you can borrow on an as-needed basis with interest charged only on the balance. As a revolving credit facility, you can request a draw and repay the balance over time. We recommend Bluevine as it provides credit lines up to $250,000 and offers competitive rates. Visit Bluevine to find out more about its credit line.
- Personal loan: If you don’t have the credit or resources to qualify for a business loan, you may be able to use proceeds from a personal loan towards your business. Since qualifying is based on your personal financials, it may be easier to qualify for even though they might have lower loan amounts. Check out our guide on the best personal loans for business funding to learn more.
Frequently Asked Questions (FAQs)
Loan rates will vary depending on the lender. Generally, hard money loan rates can range anywhere from 8% to 20%. Factors such as investment or flipping experience, property condition, and loan term can impact the determined rate of the loan.
Qualifications for hard money loans tend to be less strict than those for other CRE loans. They often require you to qualify as an incorporated business rather than an individual. While they may consider a minimum credit score (usually around 650), they often rely on your investing experience and your potential property earning capacity to determine whether you qualify for the loan.
Depending on your financing needs, hard money loans can be worth it to facilitate the purchase of an investment property if you need funds quickly and can repay the loan in a short period. If not, hard money lending isn’t always a good idea. They have high interest rates, high fees, and short repayment terms. If you don’t need the money right away, if you have a strong credit profile, and if the property isn’t in disrepair, you should consider other types of CRE loans, such as Small Business Administration (SBA) loans.
Bottom Line
The best hard money loans should offer flexible qualification requirements, quick access to funds, and competitive rates and terms. They’re typically used by fix-and-flip investors who can take advantage of the quick financing and short repayment terms. They can also be an option for other investors who don’t qualify for other forms of CRE financing, although they often come with higher rates and fees. Before proceeding with this route, make sure it meets your business needs and budget.
