Who are the Best Hard Money Lenders in Overland Park?
Finding the best hard money lenders Overland Park is important to your investing success. 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 from Overland Park’s top providers will give your business buying power and allow for exponential growth in less time than any other source of financing available out there.
Overland Park has a limited selection of local private money lenders. With that said, there are several national lenders who are available to loan throughout Overland Park. Rates on hard money loans issued to Overland Park investors average a standard 10-11% with an average loan amount around $253.4k 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 Overland Park:
- North Oak Investment LLC
- KC Investor Funding
- Crossroads Investment Lending
- Peak Capital Funding
Top 4 Best Hard Money Lenders Overland Park KS
1. North Oak Investment LLC
Our first hard money lender in Overland Park is North Oak Investment LLC. With one of the best Google reviewed profiles in the state, they are a premier source for investment hard money loans. As a full service lending company, they’re able to offer funding and structuring of loans for investors in and around the Kansas City Missouri area for residential real estate rehab properties. At North Oak Investment, they are committed to continue providing superior Kansas City investor funding.
Here’s some of their loan terms:
- No Minimum Loan Amount
- No Maximum Loan Amount
- No Max / Min Repair Cost
- 1st Position Lien Only
- Up to 80% Loan to ARV
- Deposit decreases the more loans you’ve done with them
- Most 1st-time borrowers put 10% down (refundable)
- 6 Month Term
- Up to 3 Month Extensions
- Construction Funds = Loan Amount, minus purchase price, minus our charges, minus other closing costs (realtor, taxes, gov. fees, title fees)
2. KC Investor Funding
KC Investor Funding is a Kansas City based hard money lender. They have an excellent google profile. They extend funding and hard money loans to borrowers throughout Kansas and Missouri.
They offer excellent terms for local borrowers including:
- Up to 100% of the purchase and rehab costs
- Terms of 6-12 months
- 9-12% interest rates
- Closings in as fast as 10 days
3. Crossroads Investment Lending
Our hard money lender is Crossroadss Investment Lending. They’re based nearby in Kansas City. They’re local and trusted across the Kansas City area. They have an experienced and professional team that provides fast and efficient private money lending. They’re active in the area with rehab success on nearly 1,000 houses by providing quick financing for real estate investment loans.
They offer loans for flipping houses at extremely affordable rates. With a loan-to-value ratio (LTV) of 65%, the costs of funding for flipping are:
- Property Assessment Fee: $450 due at time of request
- Loan Origination Fee: 3.5–5% of the loan amount, minimum $2,500
- Processing: $495
- Document Preparation: $480
- Administrative: $275
- Wire fees: As applicable by bank/title company
- Draw Inspection Fee: $175 per inspection, held from draw advanced
4. Peak Capital Funding
Peak Capital is our next Overland Park hard money lender. They’re a reputable nationwide lender based in Dallas. They offer several programs for rehab, rental, multifamily, commercial and more.
Here’s more information:
- LTVs up to 75%
- Loan amounts from 250k – 10M
- Rates from 10-12%
- Terms from 12-24 months
Best Hard Money Loans Overland Park FAQ
Who is the best hard money lender in Overland Park?
Here’s our short list of the top 4 Best Hard Money Lenders in Overland Park:
- North Oak Investment LLC
- KC Investor Funding
- Crossroads Investment Lending
- Peak Capital Funding
What do Overland Park hard money lenders charge?
Hard money loans in Overland Park range from 10 percent to 11 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 Overland Park require appraisals?
Many hard money lenders in Overland Park will require an appraisal.
What is hard money in Overland Park?
Hard money loans in Overland Park 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.
