LendingHome is an online real estate lending platform that offers hard money loans. It mainly serves real estate investors who want to finance their next fix and flip project or rehab. In this article, we cover LendingHome reviews and pricing. Ready to get started? Know your rate.
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LendingHome pricing varies based on the value of the investment a customer is applying to get a loan for. Interest rates range from 7%-12% depending on loan amount and payment terms, which could be 1-3 years. Loan amounts are for up to 90% of the loan-to-value (LTV) amount and 75% of after-repair-value (ARV).
|Maximum Loan Amount||Up to 90% of LTV|
Up to 75% of ARV
|Minimum Down Payment||10%+ of LTV|
25%+ of ARV
|Interest Rates||7% - 12%|
|Points (Lender Fees)||1.5 - 2.5 Points|
|Typical Loan Term||1-3 years|
Minimum down payment can be as low as 10% of the LTV and 25% of the ARV.
All customers will have to pay a $199 application fee to start their loan process once they provide all the necessary information.
Ready to get started with LendingHome? Know your rate.
Top Lenders 2019
Up to $250K for line of credit
600+ for line of credit
Summary of Positive LengingHome Reviews
Users who gave LendingHome a positive review said that they liked its easy-to-use dashboard where they can upload required documents. They also commended its excellent customer service.
One client who left a positive review of LendingHome on Zillow said that she had a pleasant experience acquiring an investment loan through the platform. She mentioned that everything went smoothly, from application to closing of the deal. She appreciated that though the process was online, the staff had the initiative to follow through by email or phone call.
Summary of Negative LendingHome Reviews
As of the date this article was written (March 16, 2019), there are only a few negative LendingHome reviews online. Some clients complained about delays in getting their loans approved.
A user who left a negative review said that everything was easy until the underwriters got involved. He reported that there were three people asking him for information. He also complained that the deal takes at least 30 days to close.
Top Lenders Pick from Fit Small Business
Best Hard Money Lenders 2019: Hard money lenders offer short-term loans to purchase and renovate properties. Hard money lenders charge higher rates but offer faster funding times and, oftentimes, no credit criteria. We researched over 20 hard money lenders comparing rates, terms, qualifications, application process, funding time, and reviews to choose the top seven.
- Upload documents online
- Simplified, streamlined application
- Support anytime you need it
- And more