Hard Money Lenders For Personal Loans

A hard money loan is a short-term financing option typically used in real estate transactions. Let’s look at some hard money lenders for personal loans.
Hard Money Lenders For Personal Loans
Hard Money Lenders For Personal Loans
Hard money lenders for personal loans have higher interest rates and shorter terms, making them suitable even if the borrower’s credit history is less than ideal.
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A hard money loan is a unique short-term financing option that relies on an asset, typically real estate, as collateral. These loans, often called bridge loans, are not offered by traditional banks but come from private investors or companies.

However, borrowers should be aware of the potential risks, as failure to repay may result in the lender seizing the collateral property. Let’s explore the options for hard money lenders for personal loans.

Hard Money Lenders for Personal Loans

1. North Coast Financial

north coast financial inc cover

North Coast Financial is a well-established direct hard money lender in California, boasting over 40 years of industry expertise. They offer various financial solutions, including bridge loans, trust loans, probate loans, and fix-and-flip loans. Here are key insights:

  • North Coast Financial typically requires a substantial down payment, falling from 25% to 30%.
  • Borrowers must demonstrate their ability to cover loan payments, taxes, insurance, and other holding costs.
  • A clear exit strategy for the property is a prerequisite for engaging with North Coast Financial’s lending services.

Potential Pros of North Coast Financial Personal Loans:

Focus on Hard Money Loans: If you need a hard money loan, which are typically for short-term financing and securing real estate with stricter qualifications, North Coast Financial might specialize in this area based on online reviews.
Fast Closing Times: Customer testimonials suggest they might offer faster closing times compared to traditional lenders.
Customer Service: Some reviews mention positive experiences with customer service.

Potential Cons of North Coast Financial Personal Loans:

Limited Information: There’s limited publicly available information about North Coast Financial’s loan terms, interest rates, and fees.
High-Interest Rates: Hard money loans are generally known for higher interest rates due to the higher risk associated with them for the lender.
Geographic Restrictions: Based on online reviews, they seem to operate primarily in Southern California.

2. HouseMax Funding

HouseMax Funding Logo web

HouseMax Funding, headquartered in Austin, Texas, is a nationally recognized player in the real estate lending sector. Founded by Jeff Fetcher and Alex Morris, HouseMax specializes in asset-based loan financing for real estate investors. Here’s a snapshot of what they offer:

  • HouseMax Funding provides loans starting at a minimum of $75,000.
  • They can fund up to 75% of a property’s after-repair value (APV).
  • Expect a 1-3 point origination charge.
  • HouseMax Funding mandates three months of reserves.

Potential Pros of HouseMax Funding Personal Loans:

Advertised Benefits:

Based on online information, HouseMax Funding might advertise:

  • Competitive rates and loan amounts
  • Fast and easy application process
  • Flexible repayment options.

Potential Cons of HouseMax Funding Personal Loans:

Limited Credibility: There might be limited independent reviews or information about HouseMax Funding’s reputation and loan terms.
Unclear Terms: The advertised benefits might lack specifics on rates, fees, or eligibility requirements. This could make it difficult to compare with other lenders.
Hidden Costs: Some lenders might have application fees, origination fees, or prepayment penalties that aren’t readily apparent.

3. Easy Street Capital

easy street capital LOGO

Easy Street Capital, based in Austin, Texas, is a nationally recognized lender, excluding North and South Dakota. Founded by Stephen Hagerman in 2016, Easy Street Capital boasts over six years of expertise in real estate investing. Here’s an overview of their hard money loan offerings:

  • Interest rates with Easy Street Capital fall from 6.9% to 10.9%.
  • Points typically range from 2 to 3.
  • A $1495 document fee is associated with their loans.
  • A down payment of at least 10% is required for their loans.
  • Fix and flip loans typically do not have prepayment penalties.

Potential Pros of Easy Street Capital:

Fast Funding: Easy Street Capital might offer faster loan approvals and funding compared to traditional banks, based on online reviews.
Focus on Investor Needs: If you’re a real estate investor seeking a loan for property renovation or flipping, they might cater to your specific needs.
Customer Service: Some online reviews mention positive experiences with customer service.

Potential Cons of Easy Street Capital:

Limited Information: There’s limited publicly available information about Easy Street Capital’s personal loan terms, interest rates, fees, and eligibility requirements.
High-Interest Rates: Real estate investment loans are generally known for higher interest rates due to the associated risk for the lender. This could also apply to personal loans offered by Easy Street Capital.
Geographic Restrictions: Based on online information, they seem to focus on certain regions.

4. Stratton Equities

Stratton Equities

Stratton Equities, a prominent nationwide direct hard money lender for real estate investors, was founded by Michael Mikhail in 2017. With over five years of experience in private lending, they offer a comprehensive hard money lending program. Here are key highlights:

  • Stratton Equities caters to loan amounts ranging from $100,000 to $5 million.
  • Interest rates commence at 7.25%, and the payment structure is interest-only.
  • Foreign nationals are eligible to apply for loans.
  • Stratton Equities offers a no-prepayment penalty option.

Potential Pros of Stratton Equities:

Fast Funding: Reviews suggest Stratton Equities might offer faster loan approvals and funding compared to traditional lenders, which could be beneficial if you need money quickly.
Flexible Loan Options: Their expertise in non-QM loans suggests they might cater to borrowers with unique situations or those who might not qualify for traditional loans.
Experienced Team: Online reviews mention positive experiences with their loan officers’ knowledge and responsiveness.

Potential Cons of Stratton Equities:

High-Interest Rates: Non-QM loans typically come with higher interest rates due to the perceived higher risk for the lender. This could also apply to personal loans offered by Stratton Equities.
Origination Fees: There might be origination fees associated with the loan, which can add to the overall cost of borrowing.
Limited Transparency: Information regarding personal loan terms, rates, and fees on Stratton Equities’ website is scarce.

5. LendSimpli

LendSimpli logo

LendSimpli, based in Tampa, Florida, is a prominent hard money lender with a national reach, excluding rural areas. Established by Brenden Crampton and Matthew Davies in 2018, they bring nearly four years of expertise to the private lending and real estate investment market. Here’s a concise overview of their bridge loan product:

  • LendSimpli offers loan amounts of up to $5 million for 1-4 unit properties and up to $20 million for 5+ unit properties.
  • Loan terms range from 12 to 24 months, with interest-only payments starting at 8.50%.
  • The maximum Loan-to-Cost (LTC) ratio they support is 90% of project costs.
  • They prefer borrowers to have engaged in at least two transactions in the past three years.

Potential Pros of LendSimpli:

Faster Funding: Some online reviews suggest LendSimpli might offer a quicker application process and loan approval compared to traditional banks.
Flexible Loan Options: They might cater to a wider range of borrowers with varying credit scores, based on scattered online information.
Transparent Rates (potentially): Limited information suggests they might advertise clear and upfront interest rates.

6. EquityMax

EquityMax, headquartered in Florida, extends its lending services across the United States. Established by Brad Emmer in 1990, EquityMax possesses decades of experience as a distinguished hard money lender. Here’s a brief overview of their hard money loans:

  • EquityMax accommodates many property types.
  • They are a direct lender with decision-making authority over financing deals.
  • Borrowers can benefit from the absence of prepayment penalties.
  • EquityMax does not set a minimum credit score requirement.

Potential Pros of EquityMax Personal Loan:

Possible Focus on Equity-Secured Loans: The name “EquityMax” might suggest they specialize in personal loans secured by equity in your home or another asset. This could potentially lead to lower interest rates compared to unsecured personal loans.
Faster Approval: Some lenders offering equity-secured loans might have faster approval times compared to traditional unsecured loans.

Potential Cons of EquityMax Personal Loan:

Limited Information: There’s a lack of details about EquityMax’s loan terms, fees, interest rates, eligibility requirements, and overall reputation.
Risk of Loan Default: With equity-secured loans, if you fail to repay the loan, you risk losing your collateral (like your house).
Potentially Higher Interest Rates (Depending on loan type): Even if secured, their interest rates might not necessarily be the most competitive, especially compared to unsecured personal loans offered by established lenders.

What is a Hard Money Loan?

A hard money loan is a short-term financing option typically used in real estate transactions. Unlike traditional bank loans, it is secured by the value of the property itself rather than the borrower’s creditworthiness.

Hard money lenders, often private individuals or non-bank entities, provide these loans, known for their quick approval and funding process. They are commonly sought by real estate investors, flippers, or those needing rapid funding.

Hard money loans have higher interest rates and shorter terms, making them suitable for situations where a swift capital injection is essential, even if the borrower’s credit history is less than ideal.

How Does a Hard Money Loan Work?

Hard money loans typically feature interest rates ranging from 7.5% to 15%, significantly higher than traditional 30-year fixed-rate mortgages.

These loans often entail closing costs, administrative fees, and substantial down payments, sometimes reaching 30% or more. Lenders may also charge points, with one point equaling 1% of the loan amount.

If you default on a hard money loan, the lender can foreclose on your property, and they might request a personal guarantee for full repayment.

Hard Money Loans vs. Traditional Mortgages

Unlike traditional mortgages, hard money loans offer faster access to capital but at substantially higher interest rates and fees, making them more suitable for short-term real estate investments or borrowers with credit challenges.

Traditional mortgages, on the other hand, provide lower rates and longer terms, making them ideal for long-term home financing but with stricter approval criteria.

What to Expect from Hard Money Lenders?

Expectations when dealing with hard money lenders resemble payday lenders in certain aspects. These lenders operate with little oversight or regulation.

However, hard money loans are associated with higher interest rates, reflecting the increased risk for the lender. Lenders can determine interest rates based on the risks involved in lending. Hard money loans also feature shorter terms, typically from a few months to a few years.

Furthermore, hard money lenders establish criteria for factors like credit scores and debt-to-income ratios, offering more flexibility than traditional lending institutions.

Alternatives to Hard Money Personal Loans

When seeking alternatives to hard money personal loans, several options are available to cater to various financial needs:

Personal Business Loans

Small businesses and entrepreneurs can benefit from personal business loans, which offer funding to expand their operations or cover general expenses. These loans are typically tailored to business needs and can provide a financial boost to support growth.

Home Equity Loans

Homeowners can tap into their property’s equity through home equity loans. These loans work like a second mortgage, allowing borrowers to access a lump sum for personal expenses. It’s a valuable option for those with substantial home equity.

Home Equity Lines of Credit

HELOCs are flexible revolving lines of credit that enable homeowners to borrow against the available equity in their homes during a draw period, which may span several years. These credit lines are versatile for financing large purchases or ongoing financial needs.

Personal Loans

Traditional personal loans are a widely accessible option offered by banks and non-bank financial institutions. They provide borrowers with a lump sum of money, which can be used for various purposes, including home improvement projects. Depending on the lender, loan amounts can reach up to $100,000, making personal loans a versatile choice for different financial goals.

Try Beem’s personal loan feature to get all the information you need on personalized rates and explore loan options ranging from $500 to $100,000 without impacting your credit score!

FHA Loans

The Federal Housing Administration (FHA) offers various loan programs, including a reverse mortgage program designed for homeowners aged 62 and older. This program allows them to access a portion of their home’s equity to supplement income or purchase new property. Additionally, the FHA insures mortgage loans that facilitate the construction or substantial rehabilitation of multi-family rental properties.


Hard money loans are a unique and valuable resource for individuals seeking swift access to capital, particularly in real estate investment and short-term projects. While they come with higher interest rates, fees, and shorter terms, hard money lenders for personal loans offer flexibility that perfectly fits specific financial scenarios. Borrowers must understand the implications, including the potential risk of property seizure in case of default. Careful consideration of these factors can empower borrowers to make informed decisions that align with their objectives.

Remember, you can also try Beem for guidance on credit score monitoring, financial planning, or choosing the best personal loan to meet your needs.

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Picture of Raman Gujral

Raman Gujral

An achievement-oriented professional, Raman has 10+ years of experience in B2B SaaS and B2C products across Fintech, Telecom, Digital Media, Social Media and Logistics domains. Defining and communicating product vision and strategy, product roadmap development, product positioning, and data analysis, he is also an expert in health insurance and personal loans content.


This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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