LoanDepot offers a "Lifetime Guarantee" that waives lender fees and reimburses appraisal fees for future refinances with them. Down payment requirements: 3% for conventional loans, 3.5% for FHA loans, 0% for VA and USDA loans.
Rates & amounts
Minimum APR
5.85%
Maximum APR
7.35%
Lowest Nominal Interest Rate
5.75%
Highest Nominal Interest Rate
7.25%
Interest rate type
Fixed and variable
Minimum loan amount
$50,000
Maximum loan amount
$3,000,000
Minimum loan period
10 years
Maximum loan period
30 years
Loan Originator Fee
1%
Cancellation Fees
$0
Interest Adjustments
Example for ARMs: initial fixed period (3, 5, 7, or 10 years), then annual adjustments with caps
$0 lender fees (no origination, application, or underwriting fees)
Cancellation Fees
$0
Eligibility
First home
Yes
Second home
Yes
Investment property
Yes
Remortgage
No
Minimum age
18
Accepts Bad Credit History
No
National bank account
No
Citizenship
No
Electronic identification
No
Features
Bank account discount
No
Card usage discount
No
Insurance bundle discount
No
Direct debit discount
No
Interest free period
No
Maximum Amount Financed
No
Additional fields
Recommended company
No
we can't guarantee the complete accuracy on a day-to-day
Filters
Loan amount
Loan period
Eligibility requirements
Interest rate type
Mortgage purpose
Rate discounts
Product Statistics
A complete breakdown of all data points across the products in this comparison to help you make the right decision.
First home
4 (100%)
Second home
3 (75%)
Investment property
4 (100%)
Remortgage
1 (25%)
Minimum APR
5.85% - 6.38% (6.21%)
Maximum APR
7.35% - 7.63% (7.53%)
Lowest Nominal Interest Rate
5.75% - 6.13% (6%)
Highest Nominal Interest Rate
7.25% - 7.38% (7.31%)
Minimum loan amount
$50,000 - $50,000 ($50,000)
Maximum loan amount
$3,000,000 - $3,000,000 ($3,000,000)
Minimum loan period
122 months - 122 months (122 months)
Maximum loan period
365 months - 365 months (365 months)
Minimum age
18 - 18 (18)
Accepts Bad Credit History
2 (50%)
Direct debit discount
1 (25%)
Citizenship
1 (25%)
Electronic identification
1 (25%)
Interest free period
0 (0%)
Maximum Amount Financed
1 (25%)
Statistics based on 4 Mortgages products in our database.
CompanyLowestHighest
LoanDepot5.85%7.35%
Rocket Mortgage6.38%7.63%
Guaranteed Rate6.38%7.63%
Better Mortgage6.25%7.5%
Interest Rates
See how rates compare across all providers. The bars show the range between lowest and highest rates offered by each company.
Financer's Choice
Top Rated
LoanDepot
Average 30-year fixed rate was 6.79% in 2024, slightly above the industry average of 6.55%. Average origination fee of $4,909 and total closing costs around $10,063 per HMDA data.
Below-average rating in J.D. Power's 2025 Mortgage Origination Satisfaction Study. Some borrowers report communication gaps during closing, though others praise their loan officers.
Offers 10, 15, 20, and 30-year fixed terms plus 3, 5, 7, and 10-year ARMs. The lifetime guarantee waives lender fees on refinances for existing customers, adding real long-term value.
Digital application via mello smartloan is convenient, and closings can be up to 50% faster than average. Mixed reviews online, with Trustpilot and Yelp ratings showing polarized experiences.
Get exclusive conditions from the best financial companies
Best Hard Money Lenders in 2026
Hard money loans give real estate investors a way to move fast. While traditional mortgage financing takes 30-45 days and requires stacks of documentation, hard money lenders can fund deals in as little as 3-7 days with far less paperwork.
The tradeoff is higher interest rates (typically 10-15%) and shorter terms (6-36 months). But for fix-and-flip projects, bridge financing, or rental property acquisitions, that speed and flexibility can mean the difference between landing a deal and losing it.
We compared the top hard money lenders available nationwide in 2026 to help you find the right fit for your investment strategy.
What Is a Hard Money Loan?
A hard money loan is a short-term financing option backed by real property rather than your creditworthiness. Private lenders or investor groups issue these loans, not banks or credit unions.
The property itself serves as collateral. If you default, the lender takes the property. Because of this asset-based approach, hard money lenders care more about the deal than your credit score or W-2 income.
These loans typically last 6-36 months, carry interest rates between 10% and 15%, and require a 25-35% down payment. They work well for situations where speed matters more than cost, like competitive real estate markets or auction purchases.
How Do Hard Money Loans Work?
The process starts when you find a property and approach a hard money lender with your deal. Unlike a bank that pulls your credit report, verifies your income, and reviews years of tax returns, hard money lenders focus on the numbers of the deal itself.
Here is what they evaluate:
Loan-to-Value (LTV) ratio: Most lenders cap this at 65-75% of the property's current value. Some go up to 80% for experienced borrowers.
After-Repair Value (ARV): For fix-and-flip projects, lenders look at what the property will be worth after renovations. Many lend up to 70-75% of ARV.
Your exit strategy: Lenders want to know how you plan to repay. Common exits include selling the renovated property, refinancing into a conventional loan, or leasing it out.
Once approved, funds can arrive in 3-7 business days. You make interest-only monthly payments during the loan term, then pay back the full principal at maturity.
Common Uses for Hard Money Loans
Hard money loans serve a specific set of real estate investment scenarios.
Fix-and-Flip Projects: Buy a distressed property, renovate it, and sell for a profit. The short loan term (6-12 months) matches the typical flip timeline.
Bridge Financing: Covers the gap when you need to close on a new property before selling an existing one. Bridge loans typically run 6-12 months.
Rental Property Acquisitions: Move fast on income-producing properties. Some lenders offer DSCR loans with longer terms for buy-and-hold strategies.
Ground-Up Construction: Covers land purchase and building costs. Lenders like Lima One Capital provide draw-based funding as work progresses.
Auction Purchases: Require proof of funds and fast closing. Hard money loans let you compete at auction when bank financing is too slow.
Comparing the Best Hard Money Lenders in 2026
We researched the top hard money lenders operating nationwide in 2026. The table below compares their rates, terms, and key features so you can find the best match for your investment goals.
Lender
Loan Amounts
Interest Rates
LTV / ARV
Funding Speed
Best For
Kiavi
$100K - $3M
7.45%+
Up to 80% ARV
7 days
Fix-and-flip investors
Easy Street Capital
$75K - $2M
7.45%+
Up to 90% purchase
5-10 days
Investment properties
New Silver
$100K - $5M
6.125%+ (rentals)
Up to 90% (flips)
5 days
Fast online approval
RCN Capital
$50K - $3M
Varies by experience
Up to 80% LTV
10-15 days
Experienced investors
Lima One Capital
$75K - $5M+
Varies by product
13-24 mo. terms
7-14 days
Multiple loan types
Constitution Lending
$50K - $2M
9.5% - 12%
75% purchase
7-10 days
First-time investors
Kiavi: Best Overall for Fix-and-Flip
Kiavi (formerly LendingHome) is one of the largest hard money lenders in the country, having funded over $12 billion in loans. They specialize in fix-and-flip and bridge loans for residential real estate investors.
Their digital platform streamlines the application process, and their customer service gets consistently high marks from borrowers. Kiavi offers cash-to-close in as fast as 7 days for fix-and-flip projects.
Rates: Starting at 7.45%+ APR.
Loan amounts: $100K to $3M.
LTV: Up to 80% ARV.
Minimum credit score: 640.
Origination fee: 2-3 points.
Best for: Fix-and-flip investors who want competitive rates and a smooth digital experience.
Easy Street Capital: Best for Investment Properties
Easy Street Capital focuses on investment property financing with some of the most investor-friendly terms in the market. Their standout feature is no prepayment penalty, which gives you flexibility if your project wraps up early.
They also accept credit scores as low as 600, making them accessible for investors who may have credit blemishes but strong deal fundamentals.
Rates: Starting at 7.45%+ APR.
Loan amounts: $75K to $2M.
LTV: Up to 90% of purchase price.
Minimum credit score: 600.
Prepayment penalty: None.
Best for: Investment property buyers who want flexibility and no early payoff penalties.
New Silver: Best for Fast Online Approval
New Silver uses AI-powered underwriting to deliver instant online approval in as little as 5 minutes, with closing possible in 5 days. That speed makes them a strong choice for competitive markets.
They offer both short-term fix-and-flip loans and longer-term DSCR rental loans, with some of the lowest starting rates for rental properties at 6.125%.
Best for: Investors who need fast approval and want an all-digital process.
RCN Capital: Best for Experienced Investors
RCN Capital rewards experience. If you have a track record of successful flips, you can qualify for better rates and terms through their volume-based pricing tiers.
They serve both new and experienced investors, but the real value shows up after your first few deals when your rates start dropping. RCN offers fix-and-flip, bridge, and long-term rental loans.
Rates: Vary by experience level and product.
Loan amounts: $50K to $3M.
LTV: Up to 80%.
Experience requirement: Open to beginners, but better terms for repeat borrowers.
Best for: Investors planning multiple deals who benefit from relationship-based pricing.
Lima One Capital: Best for Diverse Strategies
Lima One Capital stands out for the variety of products they offer. Beyond standard fix-and-flip and bridge loans, they provide ground-up construction financing and DSCR rental loans.
Based in South Carolina, Lima One lends in most U.S. states and works with both new and seasoned investors. Their loan terms run 13-24 months, with draw-based funding for construction projects.
Best for: Investors who need a one-stop shop for multiple investment strategies.
Constitution Lending: Best for Beginners
Constitution Lending built their business around helping first-time real estate investors get funded. They accept credit scores as low as 600 and offer hands-on guidance through the application process.
Their rates run higher than some competitors (9.5-12%), but the tradeoff is accessibility. If this is your first investment deal and other lenders have turned you down, Constitution Lending is worth a call.
Rates: 9.5% - 12%.
Loan amounts: $50K to $2M.
LTV: 75% of purchase price, up to 90% of renovation costs.
Minimum credit score: 600.
Origination fee: 2-4 points.
Best for: Beginners who need a lender willing to work with newer investors.
Requirements for Hard Money Loans
Hard money lenders are more flexible than banks, but they still have requirements. Here is what most lenders look at:
Property details and investment plan: Purchase price, renovation budget, timeline, and expected sale price or rental income.
Down payment: Most lenders require 25-35% down. Some advertise no-down-payment options for qualified borrowers.
Property appraisal or BPO: Lenders need to verify the property's current value and (for flips) after-repair value.
Credit check: Minimum credit scores range from 600-650 depending on the lender, though the property matters more than your FICO.
Real estate experience: Some lenders offer better terms for proven track records. Others, like Constitution Lending, welcome first-time investors.
Exit strategy: A clear plan for how you will repay the loan (sale, refinance, or rental income).
LLC or business entity: Many lenders require you to borrow through an LLC, not in your personal name.
Fees and Costs of Hard Money Loans
Hard money loans cost more than conventional financing. Here is a breakdown of the typical fees you will encounter. For a deeper look at how interest rates work, see our guide on APR vs. interest rate.
Fee Type
Typical Range
Notes
Interest Rate
10% - 15%+
Based on LTV, experience, and property type
Origination Fee (Points)
2-3 points (2-3%)
On a $500K loan, that is $10K-$15K
Processing Fees
$500 - $1,500
Administrative and underwriting fees
Closing Costs
$2,000 - $4,000
Title insurance, escrow, recording fees
Prepayment Penalty
Varies
Some lenders charge for early payoff, others do not
How to Qualify for a Hard Money Loan
Getting approved comes down to presenting a solid deal. Hard money lenders care less about your tax returns and more about whether the numbers work.
Follow these steps to put together a strong application:
Build a Detailed Investment Plan
Include the purchase price, itemized renovation budget, project timeline, and realistic sale price or rental projections. Lenders want to see that you have thought through the numbers.
Run Your Own Property Analysis
Get accurate comps for the property's current value and after-repair value. Use recent sales data from the same neighborhood. Inflated ARV estimates are the fastest way to get rejected.
Prepare Your Documentation
Have your bank statements, proof of funds for the down payment, and any documentation of past real estate deals ready. The faster you can provide documents, the faster you close.
Line Up Your Down Payment
Most hard money lenders require 25-30% down. Some newer-investor-friendly lenders accept as little as 10-15% down when renovation costs are factored in, but expect to bring substantial capital.
Check Your Credit Score
While a 750 FICO is not required, scores below 600 limit your options. If your score is marginal, focus on lenders like Constitution Lending that accept lower scores, or work on improving it before applying.
Compare Multiple Lenders
Get quotes from 3-5 lenders. Rates, points, and terms vary significantly. A half-point difference in origination fees on a $500K loan saves you $2,500.
Pros and Cons of Hard Money Loans
Hard money loans solve specific problems well, but they are not the cheapest financing option. Consider whether the speed and flexibility justify the higher cost for your situation.
Pros
Fast funding: close in 3-7 days vs. 30-45 for conventional loans.
Flexible qualification: property value matters more than credit score.
Less documentation required than banks.
Can fund deals that banks will not touch (distressed properties, auctions).
Interest-only payments keep monthly costs lower during the project.
Cons
Higher interest rates: 10-15% compared to 6-8% for conventional loans.
Large down payment required: 25-35% of property value.
Short repayment terms: 6-36 months with balloon payment at maturity.
Origination fees of 2-3 points add to upfront costs.
Risk of losing the property if you cannot repay or sell in time.
How to Choose the Best Hard Money Lender
Not all hard money lenders are created equal. The cheapest rate is not always the best deal if the lender is slow to fund or difficult to work with.
Here is what to prioritize when choosing a hard money lender:
Transparency on fees: Get a full breakdown of all costs upfront. Watch for hidden fees like extension charges, inspection fees, or draw fees for rehab funding.
Funding speed: If you need to close in a week, verify the lender can actually deliver. Ask for references from recent borrowers.
LTV and ARV limits: Higher LTV means less money out of your pocket. Compare max LTV across lenders for your deal type.
Prepayment terms: Avoid lenders that charge penalties for early payoff. Your goal is to exit the loan as quickly as possible.
Experience requirements: Some lenders only work with seasoned investors. Others welcome beginners. Match the lender to your experience level.
Geographic coverage: Not all lenders operate in every state. Confirm they lend in your target market.
Reputation: Check reviews on BiggerPockets, Trustpilot, and Google. Talk to other investors in your local real estate groups.
Alternatives to Hard Money Loans
Hard money loans work well for speed, but other financing options may save you money depending on your situation.
DSCR Loans: Use the property's rental income to qualify. Rates typically 6-9% with 30-year terms. Best for buy-and-hold investors with cash-flowing properties.
Conventional Investment Property Loans: Lowest rates (6-8%) but require strong credit, income verification, 20-25% down, and 30-45 day closing.
Home Equity Loans / HELOCs: Tap equity in your primary residence for lower rates, but you are putting your home at risk.
Private Money Lenders: Individuals who lend their own money with negotiable terms. Find them through local real estate investing groups.
Business Lines of Credit: Revolving access to capital for investors with established businesses. Draw funds as needed without reapplying.
Hard money loans are a powerful tool for real estate investors, but they are not for everyone. The higher costs only make sense when speed and flexibility create enough profit to justify them.
Before committing, run the numbers on your deal. Factor in all fees, interest costs, and your realistic timeline. If the deal still pencils out with hard money financing, compare quotes from several lenders above to find the best terms for your project.
FAQs About Hard Money Loans
What is the typical interest rate for a hard money loan?
Hard money loan interest rates typically range from 10% to 15% annually in 2026. Some lenders advertise rates starting as low as 6-7% for rental DSCR loans, but most fix-and-flip loans fall in the 10-12% range. Your rate depends on the loan-to-value ratio, your experience level, and the property type.
How quickly can I get approved for a hard money loan?
Most hard money lenders can approve and fund loans within 3-7 business days. Some, like New Silver, offer instant online pre-approval in as little as 5 minutes. Traditional bank loans take 30-45 days by comparison, which is why investors use hard money when speed matters.
What credit score do you need for a hard money loan?
Most hard money lenders require minimum credit scores between 600 and 650. Some lenders, like Constitution Lending, accept scores as low as 600. However, your credit score is less important than the property's value and your deal's fundamentals. A strong deal can offset a lower credit score.
How do I find a hard money lender?
Start by comparing nationwide lenders like the ones reviewed above. You can also find local hard money lenders through real estate investor groups, BiggerPockets forums, and local REIA (Real Estate Investors Association) meetings. Always get quotes from at least 3 lenders before committing.
What is the typical loan-to-value (LTV) ratio for hard money loans?
Hard money lenders typically offer LTV ratios between 65% and 80%, meaning you need to put down 20-35% of the property's value. For fix-and-flip projects, lenders often use the after-repair value (ARV) instead, lending up to 70-75% of ARV. Higher LTV ratios are available for experienced investors with proven track records.
Can beginners get a hard money loan?
Yes, several hard money lenders work specifically with first-time real estate investors. Constitution Lending and Lima One Capital both welcome beginners. Expect to pay slightly higher rates and provide a larger down payment on your first deal. Building a track record of 2-3 successful projects will unlock better terms from most lenders.
