Who are the Best Hard Money Lenders in Mississippi?
Finding the best hard money lenders Mississippi is very important to your real estate profit. 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. A bad hard money loan can cost you thousands and thousands of dollars. On the flip side, a good hard money loan can provide the financing you need to make a deal possible and profitable. Mississippi private money lenders can give you the buying power you need to secure your deal.
Respectable looking hard money lenders in Mississippi are tough to come by. There were essentially no reputable local lenders with a decent online presence, so we listed some of our favorite national lenders mostly.
Loan amounts average around $98.5k. Rates on loans made to Mississippi real estate investors average 10-13%. Most hard money loans average between 6-12 months. The average note includes a 2-4 point origination fee and the LTV offered for loans in Mississippi is between 70-75%.
Here’s our short list of the top 4 Best Hard Money Lenders in Mississippi:
- Spartan Money
- Stratton Equities
- Hard Money Man
- Civic Financial Services
Top 4 Best Hard Money Lenders Mississippi
1. Money Spartan
The Money Spartans Financial Group offers short-term and long-term financing options for investors in Mississippi. Whether you are looking to fix & flip properties or hold properties for rental income, they have flexible options that are suited to your needs.
They offer a solid array of loan programs including:
- Fix & Flip
- Rental Financing (Buy to Rent)
- Rental Financing (Long Term)
- Multi Family (Short Term Bridge & Fix and Flip)
2. Stratton Equities
Stratton Equities is the leading Nationwide Direct Hard Money & NON-QM Lender that specializes in fast and flexible lending processes. Our team is owned and operated by experienced Real Estate Investors providing a reliable and knowledgeable team to help all Real Estate investors succeed.
Our Hard Money and Direct Private Money loan programs support the following investment projects:
- Fix and Flip
- Cash Out – Refinance
- Fixed Commercial Loans
- Commercial Bridge Loans
- Bridge Loans
- Stated Income/No-Income Verification Loans
- Rental Loans
- Foreclosure Bailout Loan
- NO-DOC
- Blanket Loans
- Fixed Rental Programs
- Multi-Family Loan
3. Hard Money Man
Hard Money Man LLC is a New Jersey based private money lender. They’re a national lender but they’re based righti n New Jersey. 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
4. 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 day
Best Hard Money Loans Mississippi FAQ
Who is the best hard money lender in Mississippi?
Here’s our short list of the top 4 Best Hard Money Lenders in Mississippi:
- Spartan Money
- Stratton Equities
- Hard Money Man
- Civic Financial Services
What do Mississippi hard money lenders charge?
Hard money loan rates in Mississippi range from 10 percent to 13 percent for most fix and flip and shorter term loans. Many hard money lenders in Mississippi also charge points or origination fees on a loan that range from 2-4 percent.
Do Hard Money Lenders in Mississippi require appraisals?
With most hard money lenders in Mississippi, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What is hard money in Mississippi?
Hard money loans in Mississippi are loans secured by real estate used to purchase or rehab that piece of property.
These short term loans are used to purchase and/or rehab residential or commercial properties. They’re usually more expensive than traditional loans but can be closed faster and oftentimes with less credit requirements.
Our Mississippi City Guides
Here are some detailed hard money guides for cities throughout Mississippi:
