Who are the Best Hard Money Lenders in Huntsville AL?
Finding the best hard money lender Huntsville is critical to your investing success. Whether you’re new to real estate or seasoned investor, your hard money loan can eat up a ton of profit margin. Whether you’re looking for a fix and flip loan or a BRRRR strategy, a bad hard money loan can set you back thousands of dollars. On the other hand, a good hard money loan can provide the financing you need in less time than any other source of financing. Huntsville hard money lenders can give you the buying power required to scale your business and profit.
Huntsville has a limited selection of local private money lenders. With that said, there are several national lenders who are available to loan throughout Huntsville. Rates on hard money loans issued to Huntsville investors average a standard 10-12%. The median loan term is around 12-18 months. The mean hard money loan includes origination fees in the 3-4% range with standard LTV averages around 65-70%.
Here’s our short list of the top 5 Best Hard Money Lenders in Huntsville:
- Hard Money Man
- Civic Financial Services
- Longhorn Investments
- Lima One Capital
- Happy Investments Inc
Top 5 Best Hard Money Lenders Huntsville Alabama
1. Hard Money Man
Hard Money Man LLC is a New Jersey based private money lender. They’re a national lender with over 20 years of experience in hard money loans, they’re one of the most experienced lenders avaailable. They’ve closed and funded over 7,500 loans totaling over 1.2 billion in transactions.
Here’s some more details:
- Rates from 8% for more experienced investors
- Funding up to 90% of Purchase Price
- 100% of Rehab up to 75% ARV
- Credit requirements: 650+ for new investors, 620+ mid for experienced
- Minimum 65k purchase price
- No Prepayment penalty
2. Civic Financial Services
Our next hard money lender is CIVIC Financial Services. CIVIC is a best-in-class real estate lender that provides fast and simple financing to real estate investors. Whether the intention is to buy a single-family home to flip, to leverage an existing portfolio of rental homes to hold long term, or to acquire multifamily real estate for cash flow, they have a focused team and set of products that empower investors to build wealth through real estate.
Here’s some more info about their loan program:
- Up to 80% LTV
- Rehab financing available up to 100%
- 5/1 Arm starting at 4.99%
- 1 year bridge starting at 6.99%
- $100K-7.5M loan amount, higher on case-by-case basis
- SFRs, condos, townhomes, and 2-100 unit properties
- Experienced borrowers & new investors welcomed
- No personal income verification
- Closings in 7-12 business days
Speed in the loan process from start to finish. Excellent rep support; Processing, UW and Closers are great to work with.
– Danny A.
3. Longhorn Investments
Longhorn Investments is another very reputable national lender. They were formed in 2008 and have funded thousands of loans since inception. They also offer complimentary services incincluding title work and real estate law. They have programs for rehab fix and flips and also longer term rental properties.
Here are more details:
- Starting at 11.99% interest only payments (depends on deal and location)
- Starting at 2.99 points origination (depends on deal and location)
- Appraisal Fee: $425 – $550 (dependent upon location and independent appraiser’s fee)
- Draw Inspection Fee
- Loan Documents: $475
- Loan Admin Fee: $500
- Credit Report Fee: $40 ($45 for Joint)
- Monthly Servicing Fee: $15
- LTV up to 75%
4. Lima One Capital
Lima One Capital offers a wide variety of fix and flip (FixNFlip) rehab loans for the real estate investor looking to purchase and rehab an investment property. Their full offering of FixNFlip, Construction, Cash Out, and bridge lending programs provide investors the ability to capitalize on the fantastic real estate opportunities that exist across our entire lending area. At Lima One Capital, they have a passion for real estate and providing the best financing solutions for real estate investors across the country as they pursue their real estate investing goals.
5. Happy Investments Inc
Happy Investments Inc is a local Huntsville hard money lender, but they don’t have a lot of reviews. They provide asset-based lending on a large variety of residential, commercial, and industrial properties throughout California for the benefit of different kinds of borrowers.
They offer real estate loans on most types of properties ranging from $60,000 to over 2,500,000. They can provide funding in as a little as a few weeks.
Best Hard Money Loans Huntsville FAQ
Who is the best hard money lender in Huntsville?
Here’s our short list of the top 5 Best Hard Money Lenders in Huntsville:
- Hard Money Man
- Civic Financial Services
- Longhorn Investments
- Lima One Capital
- Happy Investments Inc
What do Huntsville hard money lenders charge?
Hard money loan rates in Huntsville range from 10 percent to 12 percent for shorter and mid range terms. Most hard money lenders also charge points or origination fees on a loan ranging from 3-4%.
Do Hard Money Lenders in Huntsville require appraisals?
Many hard money lenders in Huntsville will require an appraisal. However, there are several lenders on this list who offer no-doc loans, in which case, it may not be required.
What is hard money in Huntsville?
Hard money loans in Huntsville are short term loans secured by real estate. These loans are used to purchase and/or rehab residential or commercial properties. They’re more expensive than traditional bank loans but can be closed faster and with less credit requirements.
