Who are the Best Hard Money Lenders in Idaho?
Finding the best hard money lenders Idaho is crucial to your investing success. Whether you’re new to real estate or have completed several deals, your hard money loan can eat up a ton of profit margin. Whether you’re looking for a rehab loan or a BRRRR method, a bad hard money loan can set you back thousands of dollars. On the other hand, a good hard money loan can provide the cash you need in less time than any other source of financing. Idaho hard money lenders can give you the buying power required to scale your business and profit.
Idaho has a limited selection of local private money lenders. With that said, there are several national lenders who are available to loan throughout Idaho. Rates on hard money loans issued to Idaho investors average a standard 11-12% with loan amounts averaging around $258k. The median loan term is around 6-12 months. The mean hard money loan includes origination fees in the 3-4% range with standard LTV averages around 70-75%.
Here’s our short list of the top 6 Best Hard Money Lenders in Idaho:
- Alpha Lending
- Opportunity Business Loans
- Hopkins Financial Services Inc
- Payette Financial
- Lib Loans
- A10 Capital
Top 6 Best Hard Money Lenders Idaho
1. Alpha Lending
Alpha Lending is the best hard money lender in Idaho. They have a great selection of loans, and can help with any type of loan you may need- whether it’s for an investment property or commercial building!
Alpha Lending has access to all types of sources which means they can provide mortgage financing at competitive rates. You won’t be disappointed when choosing them as your favorite hard money lender!
2. Opportunity Business Loans
Our next hard money lender in Idaho is Opportunity Business Loans. They have an excellent Google with profile with high quality reviews and a solid website with a lot of good information.
They’ve been in the lending industry for many years and have completed a lot of loans in several different areas.
Here are more details about their hard money loans:
- Loan Amount: $100,000 – $50,000,000
- Loan-to-Value: Up to 80%
- Rehab Costs: Up to 100%
- Term Length: 1 – 30 Years
- Amortization: Up to 30 Years
- Interest Rate: 6% – 14%
- Closing Time: 2 – 4 Weeks
3. Hopkins Financial Services Inc
Our next ID hard money lender is Hopkins Financial Services Inc. Since 1983, Hopkins Financial Services, Inc. has funded a half a billion dollars in real estate secured loans. From finding an investment opportunity in the amount you have available to invest, to meeting your yield requirements and security guidelines, Hopkins is a slid choice for hard money loans in Boise.
Here are more details about their loan program:
- Interest Rates: Typically Starting at 9.5%+ (Based off the Average Prime Offer Rate with maximum allowable spread).
- Points/Processing Fees: 4 Points (3 points to Hopkins / 1 point to the Lender);
- $350 average processing fee.
- Loan to Value: Average 70%; Loan to value varies with property type, location and conditions of the property, and borrower credit.
- Loan Terms: 10, 15, or 25 Years; Straight Amortization,
- No Balloon, No Prepayment Penalty.
- Income: Full Documentation, Verifiable Ability to Repay.
4. Payette Financial
Payette Financial offers expertise when your situation calls for urgent funding – they have years of experience providing assistance throughout the western US on deals like yours, whether it’s acquiring troubled assets or securing short-term cash flow solutions. With offices located near Boise and Salt Lake City, we can provide resources almost anywhere in the area.
They can provide money in as little a 10 days and will lend against almost any type of commercial property including: undeveloped and developed land parcels, commercial, industrial, retail, mixed-use, warehouse, self-storage, shopping centers, hotels, office and multifamily (must be five or more units).
*They do not make residential home loans.
5. Lib Loans
Lib Properties is based in Idaho and makes loans to individuals who are unable to go through traditional financing. Whether it’s credit issues, timing issues, or the type of property, they focus on helping borrowers in tough spots.
They’re well versed in the lona industry. They purchase notes themselves, and also provide hard money loans for land, commercial, residential and construction projects.
6. A10 Capital
Last but definitely not least on our list of the best hard money lenders in Idaho is A10 Capital. They have the strongest Google profile of anyone on the list, however, they aren’t necesssarily your typical hard money lender.
They specialize in mostly commercial deals with a relatively high minimum loan requirement. Their full-service lending platform, which incorporates focused origination, fast underwriting, and servicing for the life of the loan, has made A10 the most active lender in the middle-market commercial mortgage space. With loans ranging from $3 million to more than $30 million, they’ve funded over 60 million square feet of commercial properties.
Best Hard Money Loans Idaho FAQ
Who is the best hard money lender in Idaho?
Here’s our short list of the top 6 Best Hard Money Lenders in Idaho:
- Alpha Lending
- Opportunity Business Loans
- Hopkins Financial Services Inc
- Payette Financial
- Lib Loans
- A10 Capital
What do Idaho hard money lenders charge?
Hard money loan rates in Idaho range from 11 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 Idaho require appraisals?
Many hard money lenders in Idaho will often require an appraisal.
What is hard money in Idaho?
Hard money loans in Idaho 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.
Our Idaho City Guides
Here are some in depth hard money guides for cities throughout Idaho:
