Basic Plan

When considering a hard money loan, one of the most important factors for investors is the interest rate. Unlike conventional mortgages, hard money loans typically have higher interest rates due to their short-term nature and risk profile.

Hard money loan interest rates generally range from 8% to 12%, though they can sometimes exceed this, depending on factors like location, loan-to-value (LTV) ratio, and borrower experience.

These loans are designed for quick financing, often used for fix-and-flip projects or bridge loans, where timing and property value play a more significant role than the borrower’s credit score.At BridgeWise Lending, we offer competitive rates starting as low as 8.25%, making it easier for investors to fund their projects swiftly. By focusing on the value of the property and the potential return on investment, hard money loans provide flexibility that traditional financing can’t match.

Though the interest rates may be higher, the speed, convenience, and flexibility of hard money loans often outweigh the cost for experienced real estate investors looking for short-term financing options. Make sure to assess the costs carefully and consult with one of our loan officers to determine if hard money is the right solution for your next project!

For more information on hard money loans or to get started with your application, contact us at BridgeWise Lending today!

Hard money loans are popular among real estate investors for their speed and flexibility. Unlike traditional bank loans that can take weeks or even months to process, hard money loans are designed for quick turnaround times. At BridgeWise Lending, the process can often be completed in as little as 5 to 10 days.

Here’s a breakdown of the timeline:
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‍Application Submission: Investors can submit their loan application online, and in most cases, get a response within 24-48 hours.
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‍Property Evaluation: Since hard money loans are asset-based, the lender focuses on the property’s value. This can expedite the process significantly compared to credit-based loans.

‍Loan Approval and Funding: Once approved, the loan is typically funded within a week. In some cases, particularly if the deal is time-sensitive, it can be even faster.

Hard money loans offer a quick solution, allowing investors to move fast on deals, particularly in competitive markets. Whether you’re financing a fix-and-flip or need a bridge loan, BridgeWise Lending streamlines the process to get you funded quickly.

Contact us today to learn how fast we can help you secure your next investment!

When securing traditional financing, your credit score typically plays a significant role in determining eligibility. However, when it comes to hard money loans, credit score takes a backseat. At BridgeWise Lending, we frequently emphasize that hard money loans are primarily asset-based—meaning the value of the property you’re investing in is the central focus. So, while your credit score is considered, it’s not the most critical factor in qualifying for a loan.
1. Property Value Takes Priority
‍Hard money lenders care more about the value of the property you plan to invest in rather than your credit score. If the property has potential and the numbers make sense, you can likely secure funding, even with a lower credit score. Lenders evaluate the after-repair value (ARV) of the property to assess its profitability, making this the key to loan approval.

2.Your Exit Strategy Matters More
‍Hard money lenders also focus on your exit strategy—how you plan to repay the loan. A well-thought-out plan, whether it’s flipping the property or refinancing it into a long-term loan, holds more weight than your credit score. The better your strategy, the easier it is to secure a hard money loan, regardless of your past financial standing.

3. Down Payment: Your "Skin in the Game"At BridgeWise Lending, we also look at how much "skin in the game" you have in the project. This is typically reflected in your down payment. The more equity you bring into the deal, the less your credit score matters. For example, we offer up to 95% of the purchase price for fix-and-flip projects and 80% of the after-repair value (ARV), meaning you’ll need to cover the remaining amount, giving you strong leverage in your investment.

4. Credit Can Help Secure Better RatesWhile credit score may not be the critical factor for qualifying for a hard money loan, BridgeWise Lending offers programs that allow borrowers to utilize their credit to access better rates. Investors with stronger credit profiles can take advantage of more favorable interest rates and loan terms. This flexibility gives creditworthy investors an additional benefit, allowing them to reduce their borrowing costs while still using hard money to fund their deals.

5. Flexibility for Investors with Poor Credit Even if your credit score isn’t ideal, you can still access hard money loans. Unlike traditional financing, where credit scores below 620 might disqualify you, hard money lenders can work with borrowers with lower scores. The property’s potential and your down payment matter more, providing a solution for investors with past credit issues or those who need quick financing.

ConclusionIn summary, credit score is not a critical factor for hard money loans. Instead, BridgeWise Lending focuses on the property's value and your investment plan. However, if you have a higher credit score, you can access better interest rates and terms, making the deal even sweeter. Whether you're looking to flip a property, finance a rental, or tackle a new construction project, BridgeWise Lending can help you find the right financing, no matter where your credit stands.

‍Contact us today to explore your options for fix-and-flip, DSCR rental, or new construction loans, and let us guide you to fast, flexible, and competitive financing!

Loan terms are generally short, usually 12 to 36 months. Hard money loans are intended for short-term financing, often used for real estate flips or as bridge loans.

Hard money loans can be used to finance a wide range of property types, including single-family homes, multi-family units, land, and some commercial properties.

Generally, there are no significant upfront fees for application or processing. However, lenders may charge points (a percentage of the loan) and other closing costs, which can vary