Who are the Best Hard Money Lenders in West Virginia?

Finding the best hard money lenders West Virginia is critical to your real estate investing career. Whether you’re a new real estate investor or you’ve completed several deals, your hard money loans can end up costing you thousands of extra dollars if you aren’t careful. A bad hard money loan can set you back thousands and thousands of dollars. This can be avoided if you know how to approach a hard money lender the right way. On the flip side, hard money loans can provide the financing you need to make a deal possible in the first place. West Virginia hard money lenders can give you the buying power you need to secure more deals and bigger deals.

Loan amounts average around $215k. Rates for private loans average 10-11%. The average loan made in West Virginia has a length of 6-12 months. The mean loan includes a 2-3 point origination fee. Lenders typically offer a 70-75% loan-to-value on hard money loans in West Virginia.

Here’s our short list of the top 3 Best Hard Money Lenders in West Virginia:

  • Civic Financial Services
  • Hard Money Man
  • New Silver

Top 3 Best Hard Money Lenders in West Virginia 2021

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1.  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 days

Speed in the loan process from start to finish. Excellent rep support; Processing, UW and Closers are great to work with.
– Danny A.

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2. 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
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3. New Silver

New Silver is actually more of national lender but they're based in Brookline MA. They have a proven process and have successfully completed thousaands of loans for investors throughout the US.

Here's more about their loan offerings:

  • Interest Rate 6.99 - 9.5%
  • Origination Fee from 1.875%
  • Loan To Project Cost up to 90%
  • Construction Financing up to 100%
  • Loan To ARV up to 80%
  • Term up to 24 months
  • Type of Property Residential 1-4 units, multi-family up to 50 units
  • Maximum Loan Amount $3,000,000
  • Minimum Loan Amount $75,000
  • Minimum FICO 600

Best Hard Money Lenders West Virginia FAQ

Who is the best hard money lender in West Virginia?

Here’s our short list of the top 3 Best Hard Money Lenders in West Virginia:

  • Civic Financial Services
  • Hard Money Man
  • New Silver
What do West Virginia hard money lenders charge?

Hard money loan rates in West Virginia range from 10 percent to 11 percent for most fix and flip and shorter term loans. Many hard money lenders in West Virginia also charge points or origination fees on a loan that range from 2-3 percent.

Do Hard Money Lenders in West Virginia require appraisals?

With most hard money lenders in West Virginia, the loan to value (LTV) is determined through an appraisal or a broker opinion of value. Some lenders do offer in house valuations, which eliminate the need for a third party appraisal.

What is hard money in West Virginia?

Hard money loans in West Virginia 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.

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