Hard Money Loan Rates, Points and
What our loans cost and what it takes to qualify, program by program, with nothing hidden behind a phone call. The same figures every live listing on this site is priced with, and the same sheet Price a Deal uses to quote your deal in a minute.
Every rate on this page is a starting rate and an indicative estimate, not a commitment to lend. Final terms are set at submission. Rates move with the market; the pricer always carries the current sheet.
Starting rates and points, every program.
| Program | Rate | Points | Term | Closing |
|---|---|---|---|---|
| Fix and flip | From 9.25% CA, 9.75% elsewhere, interest only | 1.5 | 12 months | 2 weeks |
| Bridge loan | From 9.25% CA, 9.75% elsewhere, interest only | 1.5 | 12 months | 2 weeks |
| 3-day option (California) | 10.5% fixed, interest only | 1.5 | 12 months | 3 days, no appraisal |
| Ground-up construction | From 10.25%, interest only | 1.5 | 12 months | 2 weeks |
| DSCR rental loan | Priced on score, leverage and coverage; the pricer gives the exact figure | Priced with the loan | 30 years, fixed | 2 weeks |
| Commercial and mixed-use term | Priced on score and leverage | Priced with the loan | Term | 2 weeks |
| Equity term (poor or no credit) | Priced on leverage; no score required | Priced with the loan | Term | 2 weeks |
Fix and flip and bridge rates are the program's starting rate, set when the file is submitted. Fix and flip fees (administration, documents, legal, draw inspections and servicing) total a little under $4,400 on a typical file; title, escrow, the appraisal and taxes are paid to third parties and are not included. Get your own figure on Price a Deal.
How much we lend, and what you bring.
| Program | Down payment or leverage | Loan size |
|---|---|---|
| Fix and flip | 10% down with at least one completed project in three years; 20% on a first flip. Up to 90% of cost, the loan under 75% of after-repair value (90% on the 740+ overlay under $750,000). 100% of the renovation funded in draws. | $50,000 to $1,000,000; to $3.5M by pre-screen |
| 3-day option (CA) | 35% down. Renovation on the buyer. | $250,000 minimum |
| Bridge loan | Sized to the value and the exit; cross-collateral and second liens available. | $250,000 to $1,000,000; larger by pre-screen |
| Ground-up construction | Land plus the build for builders with completed ground-up projects. Up to 75% of land value permitted, 60% unpermitted. | $50,000 to $1,000,000; to $3M by pre-screen |
| DSCR rental loan | Leverage steps with the credit score and the coverage ratio (rent over the payment). | Priced per file |
What it takes to qualify.
Fix and flip and construction from 660 (600 to 659 is a pre-screen); DSCR from 660; the 3-day California option has no minimum; equity term needs none. A ballpark is enough to price, and nothing is pulled.
Fix and flip: 10% down with one or more completed projects in three years, 20% on a first flip, where the budget is capped at the lesser of $100,000 and 25% of the price. Ground-up needs at least one completed build.
Investment and commercial property only. A home you or your family live in, even part of the year, does not qualify.
Contract or payoff, entity documents, insurance, budget or rent roll, and the appraisal. No tax returns, no debt-to-income ratio.
Required on every program except the 3-day California option. Ordered the day the term sheet issues.
What a $500,000 fix and flip costs.
An experienced investor buys a $500,000 house in California with a $60,000 renovation. At 10% down the loan at closing is $450,000, the renovation is funded on top for a total loan of $510,000, and the down payment is $50,000. At 1.5 points that is $7,650 in points; at the 9.25% starting rate, interest at full draw runs about $3,931 a month. Cash to close, before title, escrow and the appraisal, is roughly $62,000.
A first flip on the same house puts 20% down: $100,000 at closing, a $460,000 total loan and about $6,900 in points, with the renovation capped at $100,000. Every live hard money opportunity on this site is priced exactly this way at its list price, and the hard money loan calculator runs the arithmetic on any deal you type in.
Rates and requirements, answered straight.
What are hard money loan rates right now?
Fix and flip and bridge loans start at 9.25% in California and 9.75% elsewhere, interest only, with 1.5 points. The 3-day California option is 10.5% fixed with 1.5 points. DSCR, commercial and equity term loans are priced on the credit score, the leverage and the property, and the pricer gives you the exact figure. Every rate here is an indicative estimate, not a commitment to lend, and final terms are set at submission.
How are hard money rates set?
On the program, the state, the leverage, the property type and, for the longer-term programs, the credit score. Short-term programs quote a starting rate that is set when the file is submitted. Rates change with the market; the pricer always carries the current sheet.
What are the points and fees?
1.5 points on fix and flip, bridge and the 3-day option. Fix and flip fees cover administration, documents, legal, draw inspections and servicing, and add up to a little under $4,400 on a typical file. Title, escrow, the appraisal and taxes are separate and paid to third parties.
What credit score do you need for a hard money loan?
Fix and flip and construction start at 660; 600 to 659 is a pre-screen with the desk. DSCR rental loans start at 660. The 3-day California option has no score minimum. Equity term loans exist for borrowers with poor or no credit. A ballpark score is enough to price a deal, and nothing is pulled.
How much down payment does a hard money loan require?
On fix and flip, 10% with at least one completed project in the last three years and 20% on a first flip, with the renovation funded on top. The 3-day California option is 35% down. Bridge loans are sized to the property value and the exit.
Do you need an appraisal?
Yes, on every program except the 3-day California option, where the desk values the property from recent sales. The appraisal is ordered the day the term sheet issues so it never holds up the close.
What documents does a hard money loan take?
The purchase contract or the payoff, the entity documents, insurance, the renovation budget on a flip, the rent roll on a rental, and the appraisal. No tax returns and no debt-to-income ratio.
See Your Rate, Not the Sheet.
Price the deal and the term sheet is instant. Every figure is an estimate until the file is in.