Apply For a Hard Money Loan

If you’re in the market for a hard money loan, you may be feeling a little overwhelmed. It can be difficult to know where to start, and even more difficult to figure out which lender is right for you. In this article, we will walk you through the entire process of applying for a hard money loan. We’ll tell you everything you need to know, from what to expect at the pre-approval stage to how to close on your loan. Don’t worry – we’ve got you covered!

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Find a Lender & How To Apply For a Hard Money Loan

The first step in applying for a hard money loan is to find a lender. There are many different lenders out there, so it’s important to do your research and find one that fits your needs. It’s also important to make sure that the lender is reputable and has a good track record. FlipCo Financial has a great track record with all our investors, our team of account managers is extremely knowledgeable about real estate and will help you every step of the way.

Pre-Approval Process

Once you’ve found a lender, the next step is to go through the pre-approval process. This is where the lender will evaluate your application and determine if you are eligible for a loan. The pre-approval process can be complex, so it’s important to provide all the necessary information and documentation. FlipCo will give you a checklist with all the items you need so your application process is easy and fast. Our lending process can finance your project in 72 hours if you are quick with your checklist.

Getting Approved

If you are approved for a loan, the next step is to negotiate terms with the lender. This can be a difficult process, as both parties will want to get the best deal possible. It’s important to keep in mind that hard money loans come with high-interest rates and fees, so you’ll want to make sure that you can afford them. Our account managers will work with you to ensure you get the best terms available. We succeed when you succeed so we want to ensure you get a loan that is affordable for you and funds your project. Once you’ve negotiated terms, it’s time to close on your loan. This can be a complex process, so it’s important to have an experienced attorney represent you. The attorney will work with the lender to make sure all the paperwork is in order and that the closing goes smoothly.

FlipCo Financial Hard Money Lender Fix and Flip Loan

Get Your Funding & Get To Work

After you’ve closed on your loan, it’s time to get to work! Hard money loans are a great way to finance your next real estate project. With FlipCo Financial, you can be sure that you’re getting the best possible terms and the highest quality of service. Contact us today to get started! You can get a quote online or fill out our contact form.

What Clients Say About Us!

FAQ's

A hard money loan is a type of short-term financing secured by the property’s value rather than the borrower’s creditworthiness. FlipCo Financial specializes in hard money loans for real estate investors, offering quick access to capital for property purchases and rehab. These loans are ideal for fix-and-flip projects, BRRRR strategy investments, and other short-term needs.

As a true asset-based lender, FlipCo Financial focuses on the property’s potential rather than your credit score. We provide flexible terms, faster funding, and a borrower-friendly approach, removing common pain points like lengthy underwriting processes, excessive due diligence requirements, and excessive deal delays.

Loan amounts are based on the property’s projected After Repair Value (ARV). FlipCo will lend up to 75% ARV. We follow industry standard underwriting guidelines, ensuring comparable properties (comps) are similar in size, type, and location. Our approach helps investors maximize their projects’ potential while managing risk.

Yes! As a true asset-based lender, we prioritize the asset over the borrower’s credit. Because of this, we do not have a credit score minimum or require a credit check as part of the application process. Although credit does not impact funding qualification with FlipCo, it can impact a borrower’s ability to get long-term financing if the exit strategy is to hold the property as a rental.

Yes! While experience can strengthen your application, we work with first-time investors and provide guidance throughout the process. Budgets larger than $60,000 will require additional review if a first-time investor.

FlipCo’s streamlined process allows us to fund loans within a matter of days. We move as fast as you do! Once your application is complete and approved, we work quickly to ensure you can close your deal without delay.

To apply, you’ll need to complete a loan application, submit your project budget in the FlipCo format, property photos, and purchase contract. If you do not choose to finance your rehab with FlipCo, we will still need to see your proposed SOW to understand the final product for accurate valuation. Our team reviews this information to ensure the project aligns with our lending criteria. Upon Underwriting Approval, final due diligence documents include entity documents, EOI, and Proof of Funds.

Borrowers can easily submit property photos through FlipCo’s online application portal or via email to their assigned account manager. We require clear photos of the property’s exterior, interior, and any areas requiring repair or renovation to support the underwriting process.

For property inspections, FlipCo accepts formal inspection reports from licensed inspectors, appraisers, or contractors. In some cases, detailed walkthrough videos or virtual inspections may also be accepted, provided they meet our underwriting requirements. Our team will guide you on what’s needed for your specific loan application.

Apart from the subject property, FlipCo requires the borrowing entity be registered and operating within the US as well as in good standing. Borrowers must provide proof of current liquid funds to meet calculated Minimum Reserves; this requires providing most recent bank statement and screenshot of current bank balance within 10 business days of closing. No active or pending judgements, liens, foreclosures, or bankruptcies personally or associated with a business entity.

FlipCo lends on residential, single-family homes and multi-family units. Property types include single family residence, duplex, triplex, quad. The property must be for investment purposes and cannot be owner-occupied and/or the borrower’s primary residence. Manufactured homes and shared wall units such as townhouses and condos are excluded.

FlipCo lends in several states and recently expanded to Ohio cities. Our states include Arkansas, Florida, Georgia, Indiana, Kansas, Missouri, North Carolina, Ohio, South Carolina, Tennessee, Texas, and Virginia. Check our website for a detailed list of states where we operate.

FlipCo can lend up to $1,000,000 per unit. FlipCo does not have a loan minimum. We do have an origination minimum of $2,500. 

How does FlipCo handle draw requests for rehab projects?
FlipCo issues reimbursements through draw requests once work is completed and paid. While there’s no required timeline for draw submissions, we encourage borrowers to submit within the first 30 days to keep their projects on track. To make a draw request, visit: FlipCo Rehab Draw Request – FlipCo Financial

Absolutely! FlipCo provides guidance to make the transition seamless with our in-house DSCR specialists!

FlipCo will only charge interest of funds drawn, not total committed. Your FlipCo quote will provide estimates on your minimum and maximum fully drawn interest payment for your review in assessing your potential carrying costs.

FlipCo offers short-term financing for 3- and 6-month terms. Extensions are available. Additional fees may apply.

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