Hard money loans for fix-and-flip, new construction, and rental.
Hard money loans are somewhere in the middle. The loan is secured by a real asset — the real estate property — and we look at a collective of other qualifications like your experience, cash to close, financial history, and credit score.
Reliability. Flexibility. Speed to close, speed to draw, and speed to payoff. That’s why hard money loans are the preferred funding solution for real estate investors throughout the U.S.
Funding Projects Like These
Hard money is a type of loan commonly used in real estate investing. They are also known as bridge loans or STABBL loans (short-term, asset-backed bridge loans). Hard money loans are typically short term, with a max term length of around 18 to 24 months, and are always backed by a physical asset, such as the real estate property.
Learn more here.
Hard money loans are not the solution for every real estate investing need. A hard money loan may not be the solution if:
- You need a lower interest rate
- You need a long-term loan
- You don't have the funds or private backing for the down payment
- You are unsure if you can repay the loan in a short time period
- The property is owner-occupied
- Fast process -- close in 7-10 days
- Higher leverage to scale faster
- Flexible terms
- Easier financial requirements than banks
- Reliable, sustainable money
We can close your loan in 7-10 days. Of course, some of the onus is on you to get us copies of documents we need, but we’ll walk you through it.
Yes. We have the capability to fund up to 100% of construction costs. Similar to other funding mechanisms, after closing we'll hold a portion of the construction funds in escrow and release them as project milestones are met, subject to inspection.
Yes. Many borrowers refinance out of the Upright loan, or rent the property and refinance out into a long-term loan.
Simple — enter a few details and we’ll connect you with a Sales Development Representative.
We’ll let you know within 24 hours. Answer a few questions here, then be on the lookout for calls, texts, and emails from us.
Log in to your dashboard to check the status of your application, or reach out to the SDR or Account Executive who contacted you.
We start by looking at your qualifications. We partner with professional developers with a track record of success.
You should have 4+ successful projects under your belt and a network of contractors, legal professionals, and real estate agents. Once you are prequalified, we look at each project on its own merit, but this is generally what we are looking for:
- How much of your own equity is in the project? We require at least 10% of your own money into each project.
- Loan-to-Value (LTV) should be less than 70% of the After Repair Value (ARV) of the property.
- ARV should be supported by a thorough analysis of sales data from comparable properties (comps). This should be further supported by an appraisal and/or Broker Price Opinion (BPO). We will likely order our own BPO and appraisal to verify your analysis.
- A detailed statement of work with line item costs of all the repairs and improvements you plan to make. This should be supplemented with a home inspection report. We may also perform our own inspection.
- An exit strategy. Do you plan to sell this to an owner-occupier or an investor who will rent it out? Maybe you plan on refinancing the property with a traditional mortgage and holding it as a rental. Let us know, as this can impact the market risk of the project.
- Photos! Send us photos of the property showing its current state and key areas of the home you plan on improving.
More is better, and all of this information can be easily uploaded through your dashboard.
We’re the best of both. While we have formalized underwriting processes and procedures akin to a hard money lender, the capital we deploy comes from the 'crowd,' which is more in-line with a group of private lenders. As you develop online relationships with our network of private lenders, it is possible that your projects start to see similar economics provided by friendly private lenders.
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