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Hard money loan requirements
What a hard money lender needs to fund your flip, and how to get it ready before you go under contract.
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Estimate only. Loan amount is the lower of 100% of purchase plus rehab or 70% of the sale price when finished (after-repair value). Minimum loan $150,000. Business-purpose loans on investment property.
The property and the deal
- A signed purchase contract on an investment property
- A scope of work and rehab budget, ideally a contractor bid
- Comparable sales that support the after-repair value
- Photos of the property, especially any foundation or roof issues
You and your entity
- Government ID
- An LLC or other entity to take title, with its formation documents and EIN, in most cases
- A credit check
- Your track record, if you have one. First-time investors can still qualify.
Cash and insurance
- Cash for closing costs and holding costs, plus any amount over the 70% limit
- A builder's risk or vacant property insurance policy naming the lender
New to this? Read hard money lenders for beginners.
Hard money loans across Dallas–Fort Worth
We lend on investment houses throughout the DFW metroplex, in Dallas, Tarrant, Collin, Denton and surrounding counties.
Questions investors ask
Straight answers about hard money loan requirements.
What credit score do I need?
There is no single cutoff. The deal matters most, and credit is one factor in your terms.
Do I need an LLC?
In most cases, yes. The loan is a business-purpose loan made to an entity.
Do I need experience?
No. First-time investors can qualify when the deal has enough margin.
What is the smallest loan you make?
Loans start at $150,000.
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