Who are the Best Hard Money Lenders in Nampa ID?
Finding the best hard money lenders Nampa 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. Nampa hard money lenders can give you the buying power required to scale your business and profit.
Nampa has a limited selection of local private money lenders. With that said, there are several national lenders who are available to loan throughout Nampa. Rates on hard money loans issued to Nampa investors average a standard 11-12% with loan amounts averaging around $237k. 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 4 Best Hard Money Lenders in Nampa ID:
- Alpha Lending
- Opportunity Business Loans
- Hopkins Financial Services Inc
- Payette Financial
Top 4 Best Hard Money Lenders Nampa
1. Alpha Lending
Alpha Lending is the best hard money lender in Nampa. 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 first hard money lender in Nampa 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 Nampa 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.
Best Hard Money Loans Nampa FAQ
Who is the best hard money lender in Nampa?
Here’s our short list of the top 4 Best Hard Money Lenders in Nampa ID:
- Alpha Lending
- Opportunity Business Loans
- Hopkins Financial Services Inc
- Payette Financial
What do Nampa hard money lenders charge?
Hard money loan rates in Nampa 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 Nampa require appraisals?
Many hard money lenders in Nampa will often require an appraisal.
What is hard money in Nampa?
Hard money loans in Nampa 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.
