How Hard Money Loan Rates Are
A hard money rate is priced on the deal, not on a menu. This page explains what sets it, what moves it, and what it takes to qualify, program by program. Your own figure takes seconds: Price a Deal quotes the rate, the points and the maximum loan on your file and issues the term sheet when you say so.
Every quote is 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.
Six things that price a hard money loan.
Every file is priced on the same inputs. Move one and the rate moves with it.
A 12-month interest-only bridge, fix and flip or construction loan is priced on the deal and the exit. A 30-year DSCR rental loan or a commercial term loan is priced on the score, the leverage and the coverage.
Lower leverage is a stronger loan and prices better. More equity in, whether a bigger down payment or more value behind the loan, moves the rate in your favor.
Property type, condition, the market it sits in and the state. A rent-ready house in a liquid market prices differently from a heavy renovation or a mixed-use building.
On the longer-term programs the credit score steps the rate and the leverage. On the short-term programs a ballpark score is enough to price, and nothing is pulled.
A signed sale, a DSCR takeout already in motion or a refinance with the numbers to support it. A clear exit is a cheaper loan.
The 3-day California option, our own money with no appraisal, is priced for certainty. Every other program closes in 2 weeks.
Why the number changes, and how you see the current one.
Hard money rates follow the cost of capital. When the market moves, the sheet moves with it, and a quote from last quarter is not a quote for today. The figure that matters is the one on your file, today, and it takes seconds to get.
Price a Deal prices your deal off the current sheet: the program, the rate, the points and the maximum loan, in a short chat, with the term sheet ready the moment you ask for it. Change the leverage or the score and price it again as often as you like. Every live hard money opportunity on this site is priced the same way.
Final terms are set at submission. A quote is an indicative estimate for discussion, never a commitment to lend.
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 |
These are program maximums, not a quote. Where a file lands inside them depends on the property, the plan and the borrower. Term: 12 months, interest only, on fix and flip, bridge, construction and the 3-day option; 30 years, fixed, on the DSCR rental loan.
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.
How a $500,000 fix and flip is sized.
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. The rate, the points and the monthly interest on that loan come back in seconds on Price a Deal, with the term sheet behind them.
A first flip on the same house puts 20% down: $100,000 at closing and a $460,000 total loan, with the renovation capped at $100,000. Every live hard money opportunity on this site is sized exactly this way at its list price, and the hard money loan calculator runs the leverage arithmetic on any deal you type in.
Rates and requirements, answered straight.
What are hard money loan rates right now?
They are quoted per file, in seconds, on Price a Deal. The program, the leverage, the property, the state and, on the longer-term programs, the credit score set the figure, and the term sheet issues the moment you ask for it. Every quote 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 are priced on the deal and the exit; DSCR, commercial and equity term loans are priced on the score, the leverage and the coverage. Rates change with the market; the pricer always carries the current sheet.
What are the points and fees?
Points and lender fees are quoted with the rate on your term sheet, per file. Fix and flip fees cover administration, documents, legal, draw inspections and servicing. 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 in Seconds.
Price the deal and the term sheet is instant. Every figure is an estimate until the file is in.