Real estate investors tend to exhaust conventional financing options pretty fast. After all, most banks won’t lend beyond a certain debt-to-income (DTI) ratio. However, hard money lenders like ABL are different. They care less about your personal finances and more about the value of the property itself (aka asset-based lending).
What to Look for in a Hard Money Lender
When choosing a hard money lender for your next project, carefully vet them and their loan terms. Here’s what to look for:
Partnership
Choose a hard money lender who will support you for the long haul. The best ones provide expert support at every step instead of only funding the loan and letting you figure out the rest.
Local Lender
Your hard money lender should be local to your market. That way, they can share their market expertise and connect you with vetted professionals in the area.
Flexible Loan Terms
Real estate investments can be complex. Choose a hard money lender who can tailor their financing to your project needs and work with you if plans change.
Fast processing
Time is money in real estate. If you wait too long to seize an opportunity, your competition might beat you to it. That’s why it’s important to work with a hard money lender who can close fast. Now let’s dive in!
The Best Hard Money Lenders in the US
1. Asset Based Lending (ABL)
Founded in 2010, Asset Based Lending (ABL) is a premier hard money lender based in New Jersey but with local teams across the country. We offer the industry’s only true zero-point program and fast, flexible loans for fix and flip, new construction, cash-out refinance, and rental investments.
| Min Credit Score | 660 |
| Loan Sizes | $75K-$3.5M |
| Max LTC | 90% |
| Interest Rates | As low as 9.5% |
| Origination Fee (Points) | 0-2% |
| Prepayment Penalty | None |
| Time to Close | 30 days or less |
| Customer Ratings | 500+ 5-star reviews |
| States Serving | 41 + D.C. |
2. Kiavi
Founded in 2013, Kiavi is a hard money lender based in Pennsylvania that offers fix-and-flip, new construction, and DSCR loans across 45 states and D.C. It prides itself on having a 95% loan exit rate.
| Min Credit Score | 660 |
| Loan Sizes | $100K to $3M |
| Max LTC | 95% |
| Interest Rates | As low as 7.75% |
| Origination Fee (Points) | Varies |
| Prepayment Penalty | None |
| Time to Close | 30+ days |
| Customer Ratings | 4.1 average (based on 358 Google reviews) |
| States Serving | 45 + D.C. |
3. New Silver
Founded in 2018, New Silver is a hard money lender based in Connecticut that offers fix-and-flip, ground-up, and rental loans to investors across 40 states. It prides itself on having a repeat borrower rate of over 50%.
| Min Credit Score | 650 |
| Loan Sizes | $100K-$5M |
| Max LTC | 92.5% |
| Interest Rates | 9.5%-11.25% |
| Origination Fee (Points) | 1.25-2% |
| Prepayment Penalty | Yes |
| Time to Close | 10 days on average |
| Customer Ratings | 3.9 average (based on 32 Google reviews) |
| States Serving | 40 |
4. LendingOne
Founded in 2014, LendingOne is a hard money lender based in Florida that offers fix-and-flip, new construction, and rental loans across 46 states. It also offers single-family rental portfolio loans for 5-200 rental properties at a time.
| Min Credit Score | 680 |
| Loan Sizes | $100K-$3M |
| Max LTC | 92.5% |
| Interest Rates | N/A |
| Origination Fee (Points) | N/A |
| Prepayment Penalty | None |
| Time to Close | As little as a week |
| Customer Ratings | 4.3 average (across 112 Google reviews) |
| States Serving | 46 + D.C. |
5. Lima One Capital
Founded in 2011, Lima One Capital is a hard money lender based in South Carolina and California that offers fix-and-flip, new construction, and rental loans across 46 states. It has funded over $10B in loans so far.
| Min Credit Score | 660 |
| Loan Sizes | $75K-$5M |
| Max LTC | 92.5% |
| Interest Rates | As low as 8.45% |
| Origination Fee (Points) | N/A |
| Prepayment Penalty | None |
| Time to Close | 7-10 days |
| Customer Ratings | 4.1 average (across 236 Google reviews) |
| States Serving | 46 + D.C. |
6. Easy Street Capital
Founded in 2016, Easy Street Capital is a hard money lender based in Texas that offers fix-and-flip, new construction, and rental loans across most of the country. It prides itself on closing loans in as few as 48 hours.
| Min Credit Score | 600 |
| Loan Sizes | $75K-$2M |
| Max LTC | 93% |
| Interest Rates | 8.9%-10.9% |
| Origination Fee (Points) | 2-3% |
| Prepayment Penalty | None |
| Time to Close | As few as 48 hours |
| Customer Ratings | 4.6 average (across 223 Google reviews) |
| States Serving | Nationwide except in LA, MN, MO, NY, SD, ND, Baltimore, Chicago, Detroit, Northern NJ) |
7. RCN Capital
Founded in 2010, RCN Capital is a hard money lender with locations in Connecticut, North Carolina, and California. It offers fix-and-flip, new construction, long-term rental, and multifamily loans across 45 states.
| Min Credit Score | 660 |
| Loan Sizes | $50K-$2M for residential $250K-$3M for commercial |
| Max LTC | 92.5% |
| Interest Rates | As low as 9.64% |
| Origination Fee (Points) | N/A |
| Prepayment Penalty | None |
| Time to Close | As few as 5-10 days |
| Customer Ratings | 4.1 average (across 225 Google reviews) |
| States Serving | 45 |
8. Upright
Founded in 2014, Upright (formerly known as Fund That Flip) is a hard money lender based in Ohio that offers rehab, new construction, and portfolio loans across 35 states. It prides itself on having 93% of borrowers return to fund their flips.
| Min Credit Score | N/A |
| Loan Sizes | $100K+ |
| Max LTC | 90% |
| Interest Rates | Starting at 9.375% |
| Origination Fee (Points) | N/A |
| Prepayment Penalty | N/A |
| Time to Close | As few as 7-10 days |
| Customer Ratings | 3.0 average (across 2 Trustpilot reviews) |
| States Serving | 35 |
9. Park Place Finance
Founded in 2006, Park Place Finance is a hard money lender based in Texas that offers fix-and-flip, ground-up construction, and DSCR loans across 44 states. It welcomes brand new and seasoned investors.
| Min Credit Score | 660 |
| Loan Sizes | $100K-$3M |
| Max LTC | 90% |
| Interest Rates | 10.99%-12.99% |
| Origination Fee (Points) | N/A |
| Prepayment Penalty | None |
| Time to Close | 3-5 days |
| Customer Ratings | 4.8 average (across 364 Google reviews) |
| States Serving | 44 |
10. Express Capital Financing
Founded in 2016, Express Capital Financing is a hard money lender based in New York that offers fix-and-flip, ground-up construction, DSCR, and multifamily loans across 47 states. On its website, the company claims to have over 2,000 happy clients.
| Min Credit Score | 620 |
| Loan Sizes | $75K-$5M |
| Max LTC | N/A (90% Max LTV) |
| Interest Rates | Starting at 9.99% |
| Origination Fee (Points) | 2%+ |
| Prepayment Penalty | None |
| Time to Close | As few as 5 days |
| Customer Ratings | 4.8 average (across 117 Google reviews) |
| States Serving | 47 |
Partner with ABL
Whether you need to fund a fix and flip, new construction, or BRRRR project, ABL can help. Our flexible hard money loan programs are designed to get your project off the ground fast. Plus, our local teams are here to provide expert support along the way. Pre-qualify today!
Notes on sources:
- All information taken from hard money lenders’ respective websites
- Unavailable information indicated by “N/A”