$1,000,000 to $7,000,000
2-3 years
7.50% - 9%
1 - 2%
Loan Type Bridge Loan, Construction Loan, Hard Money Loan
Property Type 2-4 Units, SFR
Washington Hard Money Loan Lenders
Below is a list of 74 Lenders that offer hard money loans in Washington. Interest Rates vary on a case-by-case basis but are typically offered from 3% to 20%. In addition, these lenders provide loan amounts from $10,000 and $1,000,000,000.
$500,000 to $25,000,000
3 months, 6 months, 1 year, 1.5 years
2
Loan Type Bridge Loan, Construction Loan, Hard Money Loan
Property Type Cannabis Related, Gas Station, Hotel, Industrial, Land Entitled, Land Non-Entitled, Mixed use, Multi Family, Senior
$100,000 to $1,500,000
11-20
6% - 9.99%
Loan Type Bridge Loan, Construction Loan, Hard Money Loan, SBA Loan
Property Type Agriculture, Assisted Living, Automotive, Church, Gas Station, Hotel, Industrial, Land Entitled, Mixed use, Motel, Multi Family, Office, Place of Worship, Restaurant, Retail, Self-Storage, Senior, SFR, Special-Use, Warehouse
1189084
$25,000 to $1,500,000
1 year, 11 years, 15 years, 20 year, 30 Years
6% - 12%
1 - 7%
Loan Type Bridge Loan, Commercial Loan, Hard Money Loan
Property Type Automotive, Hotel, Mixed use, Mobile Home Park, Motel, Multi Family, Office, Restaurant, Retail, Self-Storage, Warehouse
$500,000 to $30,000,000
1.5 years
8% - 9%
1 - 1%
Loan Type Bridge Loan, Hard Money Loan, Second Mortgage
Property Type 2-4 Units, Hotel, Land Entitled, Medical Facility, Office, Retail, SFR, Special-Use
$50,000 to $10,000,000
1 year, 2 years, 3 years
12% - 18%
Loan Type Bridge Loan, Hard Money Loan
Property Type 2-4 Units, SFR
$10,000,000 to $125,000,000
Loan Type Bridge Loan, Hard Money Loan
Property Type Multi Family, Self-Storage, Senior
$3,000,000 to $50,000,000
3 years
9%
Loan Type Bridge Loan, Hard Money Loan, Second Mortgage
Property Type Condo, Hotel, Industrial, Land Entitled, Land Non-Entitled, Mobile Home Park, Multi Family, Office, Retail, Self-Storage, Special-Use
$15,000 to $1,000,000
1 year, 2 years, 10 years, 15 years, 20 year
9% - 16%
2
Loan Type Bridge Loan, Construction Loan, Hard Money Loan, Rehab Loan
Property Type 2-4 Units, Agriculture, Assisted Living, Automotive, Cannabis Related, Hotel, Industrial, Land Entitled, Land Non-Entitled, Manufactured Home, Medical Office, Mixed use, Mobile Home Park, Modular Home, Multi Family, Office, Place of Worship, Restaurant, Retail, Self-Storage, Senior, SFR, Shopping Center, Special-Use, Strip Center, Student Housing, Warehouse
$100,000 to $20,000,000
2 years
10%
1
Loan Type Bridge Loan, Commercial Loan, DSCR Loan, Hard Money Loan, Rehab Loan, Rental Portfolio
Property Type 2-4 Units, Industrial, Mixed use, Multi Family, Office, Restaurant, Retail, SFR, Shopping Center, Strip Center, Warehouse
Getting a Hard Money Loan for Your Investment Property in Washington
What is a Hard Money Loan?
All the lenders on this page offer hard money loans for investors who are looking for financing for their investment properties. Hard money loans are typically short term loans (6-18 months) that are based on the equity of the property, rather than than the borrowers income and credit. A borrower can usually have as low as a 600 FICO score to qualify. Hard money loans in Washington are typically utilized by real estate investors who are looking to quickly purchase or refinance an investment property.
Why Should I Get A Hard Money Loan for My Investment Property In Washington?
If you are a real estate investor looking to quickly purchase, refinance, rehab, or construct an investment property in Washington State, then you may want to consider a hard money loan. Hard money loans often don’t require appraisals, require less documentation, and have less strict guidelines than traditional bank loans. If you have less-than-excellent credit, want a project financed quickly, and don’t mind a slightly higher interest rate, then a hard money loan might be right for you. It is still important to keep in mind that hard money loans often come with more complex terms, so make sure you read the entire agreement before signing any documents.
Reasons Why Someone Would get a Hard Money Loan Instead of a Conventional Loan or Bank Loan
The main reason why someone would get a hard money loan for their investment property instead of a conventional loan or bank loan is because their needs cannot be addressed by a bank or traditional lender. The reasons why these needs may not be met can vary:
1. A low credit score might not qualify for a traditional loan or bank loan.
2. Insufficient income may disqualify a borrower from getting a traditional loan or bank loan.
3. The borrower is converting the use of the property (for example converting a smoothie shop into a marijuana dispensary) or converting the property type (for example converting an office into a mall).
4. The borrower is attempting to get a rehab or construction hard money loan but is limited experience with rehab or construction.
5. There is a time crunch to get a loan closed quickly.
Commercial Hard Money Loans
5 Things to Know:
1. Speed and Efficiency
2. Flexibility
3. Higher Interest Rates
4. Collateral and Loan-to-Value Ratio
5. Exit Strategy