Hard Money Rehab Loan Lenders

How to Get a Hard Money Rehab Loans

If you’re looking to purchase a residential property to fix and flip but are having difficulty obtaining financing, a hard money rehab loan can be a great financing option.

Offered by private money lenders, hard money rehab loans are available nationwide and attract less stringent requirements than loans provided by conventional lenders. So how do you get the best hard money rehab loan for flipping houses?

Find a Hard Money Rehab Lenders

The first thing you’ll need to do is find the best fix and flip lender. With residential hard money lenders for flipping houses located across the country, there are plenty of options out there. However, like most things in life, not all lenders are equal. Before deciding on a rehab loan lender, do your research.

Check their testimonials and online reviews, check in with previous clients if you can, or ask around and see if you can get a first-hand recommendation. It is also worth considering whether you want to work with a local lender, or a lender based nationwide.

A nationwide direct hard money lender may know your local market inside out and have invaluable insights that can help optimize your investment, whilst a nationwide lender may be a great longtime partner if you intend to invest in multiple markets in the future.

Check What the residential fix and flip Lender is offering

When looking at borrowing money to flip a house, part of your research should be to check what the rehab lender is offering and compare this against others in the market. Be aware that even if a lender is offering the best rates, they may not be the best lender for you.

Check their other terms and conditions, hidden fees and ascertain things like their level of flexibility. A top rated hard money lender for flipping houses will be genuinely interested in your success, and able to tailor a loan based on your needs and your project for optimal results.

Check the Lender’s Requirements

Once you have settled on a fix and flip hard money lender and are ready to apply, check what the lender requires to secure a loan. Generally, real estate rehab loans require minimal paperwork and documentation making the application process straightforward and quick.

Many direct rehab loan lenders are willing to take a chance on first-time investors and will offer fix and flip loans for beginners. They may also offer fix and flip loans for investors with bad credit.

Find out if you are eligible and then get all your paperwork ready to go to make the process as smooth and fast as possible.

If you’re looking for the best hard money lender offering cost-effective and stress-free hard money and rehab bridge loans, Rehab Lend can help. Get in touch with our loan experts today to find out more about our short-term loans for flipping houses and how to apply.