Fast, Asset-Based Financing When Conventional Will Not Work
Hard money is a short-term loan secured mainly by the property itself. We look at the asset and your exit plan rather than at your income documents. It exists for situations where speed or property condition rules out a conventional loan.
At a glance
- Typical timeline
- 15 to 25 days
- Max LTV
- Up to 65%
- Term
- 12 to 36 months
- Minimum credit
- 500
- Position
- 1st, 2nd or 3rd
- Minimum loan
- $75,000
Scope: nationwide. Hard money is business-purpose lending and we broker it across the country, with Eric Figueroa as broker of record. Owner-occupied home loans are available in California only.Work out what the property can support
The same product goes by three names.
- Hard money describes how it is priced.
- Bridge financing describes what it does — carries you from one position to the next.
- Asset-based lending describes what it is underwritten on.
If you have been quoted any of the three, this is the page.
We place it in first, second and third position.
A second or third behind an existing loan is often the cheaper answer when the first mortgage is on terms worth keeping.
Who this fits
You need to close fast to win a deal or an auction purchase
The property is in condition no conventional lender will touch — deferred maintenance, missing systems, uninhabitable
You are buying to renovate and then sell or refinance
You have had a recent credit event, or your income cannot be documented in the time available
You are buying before selling and need to bridge the gap
Your construction project has stalled and you need to move
You need to sit behind an existing first mortgage rather than replace it
Who this does not fit
You have time. If a conventional or Non-QM loan can be arranged, it will nearly always cost less. Hard money is priced for speed and risk, and we will say so.
You are holding long term with no exit. These loans are short. Without a realistic sale or refinance, you reach maturity with nowhere to go. This is the single most important thing to be clear-eyed about.
You are buying a home to live in. These are business-purpose loans only. Consumer-purpose hard money is heavily restricted and this is not that product.
A rural property with thin comparable sales. Valuation is the whole file here. Where comparables are scarce, scrutiny goes up and the lender pool shrinks.
How we underwrite it
The property
The property comes first — its current value, or its value after renovation if a rehab is part of the plan.
The exit
Then the exit. We want to know specifically how the loan gets repaid: sale, or refinance into a longer-term loan.
A weak exit is the most common reason these deals get declined, and it is the part borrowers underestimate.
You
Then you — credit is checked but the bar is lower than conventional. What matters more is whether you have the liquidity to carry the payments and finish the work. Prior experience helps and is not required.
- Minimum credit
- 500
What you will need
About the property
- The purchase contract or your current loan payoff.
- Property details, photos, and honest condition information.
- A valuation.
- Insurance, including builder's risk if you are renovating.
About the plan
- A scope of work and renovation budget if you are rehabbing.
- A written exit plan.
- Your track record on prior projects, if you have one.
About you
- Credit report.
- Bank statements showing you can cover the down payment, costs, and carrying the loan.
- Entity documents if you are borrowing in an LLC.
The honest trade-offs
- Term
- 12 to 36 months
This is the most expensive money we place, and the term is 12 to 36 months — short, with a hard maturity date. Payments are usually interest-only with the full balance due at the end. The down payment is larger than conventional.
- Extension, if available
- 3 to 6 months
If your exit does not happen, you are exposed. A project that runs long or a sale that falls through leaves you with a maturing loan and limited options. An extension of 3 to 6 months may be available; it is not guaranteed and it costs. We would rather talk you out of a deal with a shaky exit than write it and watch it go wrong.
LTV calculator
Work out what the property can support
Property value, less what is already secured against it, against the program ceiling.
Projected combined LTV
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Hard money ceilingUp to 65%
Fill in the property value, the existing liens and the cash-out you want. The LTV updates as you type.
- Property value
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- Existing liens
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- Requested cash-out
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- Equity left
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- Projected combined balance
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For illustrative and educational purposes only. Results produced by this calculator perform arithmetic based solely on numbers you enter and do not reflect actual loan offers, interest rate quotes, or commitments to lend. Actual loan terms, payments, interest rates, and approval depend on complete underwriting, credit review, property valuation, and lender guidelines. Loankey.io arranges loans through third-party lenders; loans are not funded directly by Loankey.io.
Process and timeline
Typically 15 to 25 days — faster than anything else we place. That is a typical range, not a promise, and the variables are the valuation and the title work.
We test the exit before anything else.
Scenario analysis
The property, the condition, the number you need and the exit.
Lender analysis
Placed with lenders who write the position and the condition your file needs, from a panel of 20+.
Valuation to funding
- ValuationA variable
- TitleA variable
- Docs
- Funding
Typical timeline15 to 25 days
Frequently Asked Questions
How fast can this actually close?
Typically 15 to 25 days. The variables are the valuation and the title work, neither of which we control. We will give you a realistic read once we have seen the file, and we will not promise a date to win your business.
What makes hard money different from a bank loan?
A bank lends against your income and your credit. Hard money lends against the property and your exit plan. That is why it is faster and why it costs more.
Is bridge financing the same thing?
Yes. Bridge, hard money and asset-based lending describe the same product from three angles — what it does, how it is priced, what it is secured on.
Can it sit behind my existing mortgage?
Yes. We place first, second and third position. If your first mortgage is on terms worth keeping, a second or third is often the better answer than replacing it.
Do you check my credit?
Yes, but the bar is much lower — 500 — and it is not what decides the loan.
Do I need to document my income?
Usually not, or only lightly. The property and the exit carry the file.
How much can I borrow against the property?
Up to 65%. On a rehab, some lenders size against the after-repair value instead — we will tell you which applies to your deal.
How long is the term?
12 to 36 months. These are short-term instruments with a hard maturity date, not a mortgage you settle into.
What are the payments like?
Usually interest-only, with the full principal due at maturity. Your monthly cost is lower than an amortizing loan, but nothing is being paid down.
Can renovation costs be included?
On a rehab structure, usually yes — held back and released in draws as the work is completed and inspected. You fund the work first and get reimbursed, so you need working capital.
What counts as a credible exit?
A sale with a realistic price and timeline, or a refinance you can actually qualify for when the time comes. A weak exit is the most common reason these deals get declined, and we would rather test it with you now than watch it fail later.
What if I cannot sell or refinance before it matures?
Ask about an extension early — weeks before, not on the day. Extensions of 3 to 6 months may be available and they cost. Going past maturity with no plan is the worst outcome in this product and it is entirely avoidable.
Is it more expensive than a conventional loan?
Yes, materially. You are paying for speed and for a lender willing to accept condition and documentation risk. If you have time and your file is clean, we will tell you to use a cheaper product.
Can I use it to buy a home to live in?
No. These are business-purpose loans only.
Do I need to have done this before?
No.
Is there a minimum loan amount?
$75,000.
Can I buy at auction with this?
That is one of the common uses, but auction timelines are unforgiving. Talk to us before you bid, not after.
Is it available outside California?
Yes. Hard money is business-purpose lending and we broker it nationwide. Investor and business-purpose lending nationwide. Owner-occupied home loans in California.
Do you fund it yourselves?
No. We are a brokered business and place the file with the lender whose program fits it.
What happens next
Short-term money has to exit somewhere. Plan that before you take it, not at maturity.
If the plan is different
If the file is a stalled build rather than a purchase.
If the plan is renovate and resell rather than renovate and hold.
You are here
Hard Money / Bridge / Asset-Based
It exists for situations where speed or property condition rules out a conventional loan.
The exit
The usual exit when the property becomes a rental. Once it is rented and performing, the hard money loan refinances into long-term financing qualified on the rent.
The same exit when the rent does not fully cover the payment.
Request a Scenario Analysis
Tell us the property, the condition, the position you need and how the loan gets repaid. The exit is the first thing we will test.
Nothing on this page or website constitutes an offer of credit, a rate quote, or a commitment to lend. All loans are arranged through third-party lenders and are subject to full application, credit approval, income/asset verification, property appraisal, and underwriting. Terms and availability are subject to change without notice. Loankey.io is a licensed real estate broker; loans are arranged, not made. Investor and business-purpose lending nationwide. Owner-occupied home loans in California.