A creative hard money lender
Private lending basics
How to Get a Hard Money Loan
A practical guide for real estate investors who need private financing for a fix-and-flip, rehab, bridge, or investor/spec construction project.
A hard money loan is a short-term, collateral-based loan used by real estate investors who need speed, flexibility, and a lender that can evaluate the property and business plan quickly. For WCLD, the strongest requests usually involve an active local market, a clear project budget, a realistic exit strategy, and a borrower who can move decisively.
Start with the property and exit strategy
The first step is to explain the property, the purchase price, the current condition, the planned repairs, and the expected after-repair value. WCLD is most interested in single-family homes, townhomes, small multifamily properties, select small commercial projects, and investor/spec construction deals.
We usually avoid condos, mixed-use properties, churches, farms, heavy industrial properties, rural or slow-moving markets, large commercial projects, and borrower situations involving bankruptcy concerns.
Prepare the numbers before you call
Before calling a lender, gather the property address, contract or target purchase price, estimated rehab or construction budget, ARV support, borrower experience, timeline, and intended payoff plan. WCLD commonly reviews loan requests from $150,000 to $1,000,000 and may consider up to 70% to 80% loan-to-cost depending on the project and borrower strength.
- Property address and property type
- Purchase price or payoff amount
- Rehab or construction scope and budget
- Estimated ARV or completed value
- Exit strategy: sale, refinance, or another payoff source
Speed depends on readiness
When the file is ready, WCLD can often close within 3 to 4 days after title binder and term approval. For rehab and construction projects, eligible draws can often be funded within 48 hours after WCLD inspection, depending on project status and documentation.
Have a hard money loan scenario?
Call WCLD first at 703-350-4339. If it is easier, send the property address, purchase price, rehab budget, ARV, and timeline through the contact form.
Use WCLD resources before making an offer
If you are reviewing a fix-and-flip or rehab project, use the WCLD Deal Analysis Calculator to test purchase price, ARV, rehab budget, holding costs, ROI, and projected profit before committing to the offer.
This article is general information, not a commitment to lend. Loan approval, leverage, draw timing, and closing speed depend on collateral, title, borrower strength, project scope, market conditions, and WCLD underwriting.