Who are the Best Hard Money Lenders in Utah?
Finding the right hard money lender in Utah can be challenge. Texas is one of the best states to wholesale and flip. Whether you’re new to real estate or you’re a seasoned vet, your hard money loan can often make or break your deal. An unfavorable loan can set you back thousands and thousandss of dollars. On the flip side, a good hard money loan can provide the funding you need faster than almost any other option. Utah hard money lenders can give you the buying power you need to scale your real estate business and grow.
Utah has a large selection of hard money lenders operating within the city. The mean note issued to borrowers is around $275k. Interest rates for hard money loans average around 15%. The average note issued in the city is for 6-12 months. Expect to pay 3-4 points for origination. Hard money lenders in Texas average a 80-90% loan to value on their deals.
Here’s our short list of the top 3 Best Hard Money Lenders in Utah:
- Private Money Utah
- Do Hard Money
- Actium Partners LLC
The Top 3 Best Hard Money Lenders in Utah
1. Private Money Utah
Private Money Utah is one of the highest rated lenders in Utah. They have an excellent Google profile and a strong website. They offer a full spectrum of loan programs for investors.
Here is more about their fix and flip loan program:
- Loans amounts for up to 65% of After Repaired Value (ARV)
- Interest rates from 12.% to 13% interest only
- 2-4 points as a loan fee (based primarily on loan size)
- Loan terms up to 12 months
- Loan amounts from $50,000 to $1,000,000 (depends on state where property is located)
- No credit check required for approval, past bankruptcy or foreclosure ok
- Fast closings
2. Do Hard Money
Do Hard Money is a national lender but they have an excellent rating from their clients. They offer loans for fix and flips, bridge loans and more.
Their loans range from 8-15% interest with 6-12 month terms. They can often close in as little 10 days!
3. Actium Partners LLC
Actium Partners Partners LLC is a hard money lenderr that offers bridge loans and hard money loans for real estate investors. They have solid reviews on Google and a well done website.
Best Hard Money Lenders Utah FAQ
Who is the best hard money lender in Utah?
Here’s our short list of the top 3 Best Hard Money Lenders in Utah:
- Private Money Utah
- Do Hard Money
- Actium Partners LLC
What do Utah hard money lenders charge?
Hard money loan rates in Utah range from about 14 percent. Most hard money lenders also charge points or origination fees on a loan. 1 point is equal to 1 percent of the loan. These fees can range from 3-4 percent.
Do Hard Money Lenders in Utah require appraisals?
With most hard money lenders in Utah, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What is hard money in Utah?
Like any other state, hard money loans in Utah are loans often secured by real estate which are used to purchase and/or rehab residential or commercial properties. They’re typically more expensive than traditional financing but can be closed much faster and oftentimes with less paperwork.
