Are You Looking For a Loan? Try one of these Lenders.
In this article, we present 15 lenders offering commercial, residential, hard money, and private loans to borrowers nationwide.
Lately, people have been scrambling to get their preferred lender or mortgage person to help them, but many programs have been put on hold, and possibly eliminated altogether.
Do you have properties that you’d like to rehab or renovate? What about some rentals or properties with equity that you want to tap into?
These hard money Lenders and commercial lenders are still doing business and helping with loans.
A little known method for financing would be to obtain funds through a private lender or equity fund.
These lenders offer rehab lending programs that are based on the After-Repaired-Value (“ARV”) of the property and allow for up to 90% of the purchase price with 100% of the rehab budget.
Some programs are a combination of both debt and equity that includes the purchase price, entire rehab budget, all closing costs, six months of prepaid interest reserve and refunds your earnest money deposit back to you at the close of escrow.
Rates start are usually between 9%-14% but the rate can be reduced based on as-is value transactions. Terms are usually 1 yr with extensions offered. Generally, no pre-payment penalty unless the loan term is less than 6 months.
As the inventory starts to dry up, the need for ground-up construction financing has created a niche that lenders are offering with high LTV/ARV Financing.
They will work with 1st time or Seasoned investors, they can offer them a hard money loan generally priced at 65% ARV on single-family residences.
If Seasoned, 100% Financing Available: 70-80% ARV with a profit split starting at 70/30. You must prove that you have completed 2-3 property rehab flips in the past 24 months. They may consider loans from $100,000 to $5,000,000, sometimes above in certain cases.
What to Expect with Private Lenders?
Private money lenders normally focus on lending on non-owner occupied properties, but now some will offer owner user and owner-occupied business purpose loans on a case-by-case basis. Most prefer 1st lien position only, but lenders who specialize in 2nd mortgages on single-family, condos, commercial, and improved income-producing properties.
Some things to keep in mind when considering a hard/money or private loan
Purchase: Value is based on the actual purchase price.
Refinance: Value is based on lenders’ opinion of the appraised value of the real estate for refinances. They use their own appraisal review process and may require a site inspection.
Rehab: Value will be based on after repaired (ARV) or future value.
Some lenders offer flexible blanket loans that can include points, fees and may include an interest reserve into the loan and multiple income sources may be considered. Some will consider owned properties to cross-collateralize the loan to increase leverage. If you own a portfolio with equity and you want to establish a credit line against that for investments or flipping, they love to establish these relationships.
What are the types of Private Lenders?
There are many different kinds of private lenders, sometimes referred to them are interchangeable but they are actually different.
- Private Lenders – Could be an individual loaning their money, or loaning money through a trust, or through a fund.
- Hard Money Lenders – Could be an individual, or group of individuals, or an institution, you may never meet the check writer. This could also be a trust, fund or another financial vehicle.
- Commercial Lenders – They will finance purchases and refinances of properties that are over 4 units. Sometimes they will finance purchases of businesses themselves.
- Alternative Lenders – They make unsecured loans, business loans, hybrid loans, loans to purchase equipment or expansion, or personal expenses like taxes, down payments, gap payments, closing costs, due diligence fees, etc.
LA, Dallas, Chicago, NY, Miami
Need funding for Hospitality, Medical, Assisted Living, or Value-add Office or Retail?
- No Land, Infrastructure, Multi-unit/Apts, SFR, or SFR build-out.
- A consortium of family office private investors lends on commercial properties.
- Most states and property types are accepted.
Their target is ground-up construction (normally $5mm to $15mm loans) also $3mm+ Refinance, Non-recourse, long term/low rate private family money, up to 10 years with a rollover option.
They accept executive summaries that includes the loan purpose, pictures, or prior appraisal, commission agreement with the broker.
- Construction loans will require a cost breakdown /proforma. They go up to 80% loan-to-cost. (acquisition with construction)
- Rates start at 5.85%, Refis to 70% LTV – $3mm to $15mm.
- 2nds are available $1mm minimum, Fixed 30/10.
A nationwide lender offering bridge loans from $100k to $10mm that can close in 5-10 days with 1 and 2-year terms.
- Fix and Flippers can take advantage of 75% LTV on purchases & 70% on cashouts and refinances, with up to 100% rehab. No pre-payment penalty on the 1-year loan.
- You can get a rental loan for a long-term hold if you want to be a landlord. They offer adjustable-rate mortgages and can handle a single asset or portfolio.
- Up to 75% LTV on purchases and 70% LTV on cashouts and refinances.
No personal income verification or DTI calculation on loan amounts from $75k to $10mm.
Commercial Lender since 2010 with over 250 transactions and $500M worth of debt and equity transactions, New York-based real estate private equity investment firm focused on commercial real estate and debt opportunities.
They also acquire and manage their own portfolio of properties.
Their target: Mixed-use, Multi-family and Mid-Construction development in Brooklyn, Manhattan, Queens.
Serving the greater Brooklyn, Manhattan, Queens, New York area and beyond.
Lending in California only for over 30 years with over $120M in successful funding’s in 2019, they have in-house hard money for residential 1-4 unit short-term fix and flip deals.
You just have 650+ fico score with experience flipping properties, with loan amounts from $100k to $2M and up to 65% of the ARV with up to 100% of the rehab budget.
They will also fund Construction, Commercial Bridge Loans, Buy to Rent and Refinance loans.
Serving the greater California area and beyond.
Calabasas, California based BCREM Capital and intermediary that is direct to numerous agency, CMBS, portfolio, funds and private lenders. They arrange debt and equity for all commercial real estate property types nationwide.
$3M to $500M+, Fixed rate 5,7,10, 12,15, 30 year terms, up to 75% LTV.
Commercial RE Loans
$3M to $500M+, Fixed-rate 5, 7, 10, 20, and 25-year terms available. Up to 70% LTV.
$5M to $500M+, Fixed-rate 5,7, 10-year terms up to 50% LTV. Only very strong locations and sponsors will be considered.
Bridge | Mezzanine | Equity Program
- Bridge loans up to 5 years up to 85% LTV/LTC
- Mezz/Equity/JV up to 5 years up to 80-90% LTV
CRE Construction Program
Debt and Full Capital Stack up to 80% Loan to cost.
National Bridge Program
- All property types are considered.
- Bridge to Permanent loan available.
- Loan size – $10M to $300M+ for 1-5 year terms. Non-recourse.
75%-80% LTC on $30M-$100M+ deals
- Non-Recourse Commercial, Class B, C, D, Multi-family & Commercial is accepted,
- Bad Credit and Prior Bankruptcy may be ok still.
Multi-family is the preferred property type for construction.
80% of the purchase with 100% of the rehab budget covered. 20% down payment with 3 months bank statements containing 1 month of interest reserves.
You need to have past experience with a 650 credit score.
If you need a rental loan, you can get a 5-year loan at 65% LTV, you’ll need:
- Current Leases
- 3 months Bank Statements
- First 6 months of interest payments
- Past experience
- Minimum 680 Credit Score
They lend in Arizona, California, Colorado, Georgia, Oregon, and Texas.
You’ll need to pay for a 3rd party appraisal.
Hard Money and Cannabis Lender looking for operators who have at least 6 months of operating history.
They will make a handful of these loans available for refinancing a landlord-tenant property or owner-user property.
- Finance of a sale/leaseback transaction where the seller will be the tenant and has occupied the business for 6 months.
- Finance the exercise of a purchase option or wats to negotiate a purchase.
Deals can be between $2M to $15M up to 70% based on non-cannabis value. Rates are normal at 9%-14%, with a step-down prepayment penalty style for 5-7 years, Non-recourse.
All property types accepted, both medical-only and the Adult-Use States allowed.
Beverly Hills-based lender offering Nationwide Bridge and Fix and Flip Loans for purchase or refinance, not credit score driven with 7-10 day closings. Rates from 7.99%
They fund non-owner occupied residential and commercial construction deals up to 90% loan-to-cost financing (purchase and rehab).
Stated income makes it simple to qualify. Bad credit isn’t an issue.
Calabasas based lender Funding Investment properties in 7-10 days, Single-family, Condo, Multi-family /Commercial OK, starting at 8.5% for 12 to 36 months.
No income, no assets verified, no sourcing and seasoning of funds, but only in California Metro areas, with LTV’s maxing out at 65%. Loan amounts from $100k to $3M.
1st position loans only and Non-Construction will be considered.
Serving the greater California area and beyond.
They offer a full menu of loans including Stated Income Loans, no tax returns, no W2’s, No P&L’s needed. They work with lenders offering lines of credit, 100% financing, loans for foreign nationals.
- Farms, Vineyards, Ranches, and Agricultural properties.
- Jumbo’s with 10% down with No MI up to $2.5M
- Manufactured houses / Mobile Homes (with 20% down and 620 credit score)
- Acreage properties
Commercial loans up to $500M
5% down Jumbo (up to $2M Lender paid PMI)
- They have the normal 10, 15, 20, 25 and 30-year fixed conventional conforming loans for under $484,350 and High Balance loans up to $726,525
- ARM’s, VHA, VA, USDA
- Reverse Mortgages up to $10M in value
- Investor Cash Flow Loan
San Diego based real estate investment company and family office provides 1st position loans from $500k to $10M.
- Rates start at 7.99% with 6months to 3-year terms. LTV is 50%-60% with exceptions and No minimum credit score needed.
- Retail, Office, Light Industrial, Multi-Family, Mixed-Use, Self-Storage, Mobile Home Parks, Residential Portfolios, and Non-owner occupied residential.
- Foreign nationals are Ok! Low DSCR is OK, Low Occupancy or Alternative Use is OK!
Commercial Real Estate Financing from $3M to $100M specializing in Commercial Developer and Builder financing. They accept Multi-family, SFR Rental Homes, Mixed-use, Retail, Office, Industrial, Hospitality, and Storage.
They will provide short-term, 1st position bridge loans starting at 7.99%. They provide construction funds for Multi-family, Single Family Spec Homes, Mixed-Use, Retail, Industrial and Entitled land, covering up to 75% of the loan to cost value Nationwide.
Loans for entitled land, pre-development, and for future sale. $3M to $100M starting at 7.99%.
You can purchase, refinance, and develop your portfolio with rates starting at 6.99%.
Portfolio and Cashout Refi
You can pull your equity out of your investment properties to grow your business or stay afloat. Loans from $3M to $100M are available. Rates low as 5.0%.
They are offering bridge loans nationwide from 12, 18, and 24 months. With rates starting at 7.95% and closing in few as 5 days, No application fee, up to 80% of the purchase price, with 100% of the rehab held-back.
- Once they underwrite you, you get fast-tracked on future deals.
- No appraisal before closing!
- Credit score, asset location, and your experience will cause rates to vary.
Encinitas based private real estate lending company since 1990 can help with finding an investment loan for Fix and Flip or Refinance of a Mixed-use or Rental property.
- They only loan on California assets. They offer quick funding, no upfront fees, competitive Rates and Fees, No appraisal in most cases, Flexible loan structures on Land loans, Development and Construction.
- Single Family Homes, Apartments, Condos, Commercial and Industrial and Bridge loans for purchase transactions.
Loans are fixed-rate, interest-only with no minimum credit score requirements.
Serving the greater California area and beyond.