What are your Hard Money Loan rates at Glassridge?
This is one of the most common questions we get asked, obviously.
Everyone shops around, and everyone is looking for the best rates & terms you can get.
The biggest challenge to answering this question is that we offer a very wide variety of Private Hard Money Loan options, from short-term Fix & Flip Loans to permanent Commercial Real Estate Financing (and everything in between).
Here are the 4 main factors that will influence the rates & terms you’ll receive as a Borrower:
- Location. As a Nationwide Lender, our rates, terms, and available options will vary state by state.
- Transaction Type. Rates & terms vary wildly depending on the transaction type. Long-term commercial real estate financing is going to come with a much lower interest rate than 12 month Fix & Flip loans.
- The Deal Itself. Closely related to the Transaction Type, but even more specific, is The Deal Itself. Is it a hot or cold market? Is it a huge margin or are the numbers tight? These will affect the available financing options significantly.
- Borrower’s Qualifications. Last but not least, a Borrower’s income, FICO, liquid cash on hand, and recent deal history will all influence your available Hard Money Loan Rates & financing options.
Yet… we still haven’t answered the question!
What Are Our Hard Money Loans Rates At Glassridge?
While it really is impossible to generalize across the board, here are some ballpark rate ranges for several of our most common types of Hard Money Financing options.
These same rates & tables can typically be found on each loan type’s individual page. Click the links in the headings below for more detailed descriptions of each loan type.
Attention (Disclaimer):
The hard money loan rates & terms listed below are subject to change, and will not apply universally. These are just rough ballpark rates & an outline of the typical terms. These are in no way a guarantee of financing or specific rates. Every deal is different, and rates change daily.
Single Family Fix & Flip, and 2 – 4 Unit Fix & Flip Loans
| Eligible Property Types: | Single Family Residences (SFRs), 2 – 4 Unit Multiplexes |
| Eligible Uses: | Acquisition, Refinance, and/or Renovations. |
| Loan Term: | 12 – 18 Months. |
| Min. Loan Balance: | $70k – $100k, (click here for low balance (<$70k) hard money loans). |
| Max LTV (Purchase Price): | 65% – 80%, with up to 90%+ for highly qualified repeat Borrowers. |
| Max LTV (Rehab Costs): | 90% – 100% |
| Interest Rate: | 7% – 12.99% |
| Rate Type: | Fixed |
| Origination Fee: | 2% – 5.75% |
| Processing Costs: | $395 – $695 |
Apartment Building Fix & Flip Rates
| Eligible Property Types: | Apartment Buildings (5+ Units) |
| Eligible Uses: | Acquisition, Refinance, and/or Renovations. |
| Loan Term: | 12 – 18 Months. |
| Min. Loan Balance: | $250k (with some exceptions) |
| Max LTV (Purchase Price): | 60% – 70%, with up to 90%+ for highly qualified repeat Borrowers. |
| Max LTV (Rehab Costs): | 90% – 100% |
| Interest Rate: | 7% – 12.99% |
| Rate Type: | Fixed |
| Origination Fee: | 2% – 4% |
| Processing Costs: | $395 – $695 |
Single Family Buy & Hold, and 2 – 4 Unit Buy & Hold Loans
| Eligible Property Types: | Single Family Residences (SFRs), 2 – 4 Unit Multiplexes |
| Eligible Uses: | Acquisition, Refinance, and/or Renovations. |
| Loan Term: | 2 – 30+ years. |
| Min. Loan Balance: | $70k – $100k, (click here for low balance (<$70k) hard money loans). |
| Max LTV (Purchase Price): | 65% – 80%, with up to 90%+ for highly qualified repeat Borrowers. |
| Max LTV (Rehab Costs): | 90% – 100% |
| Interest Rate: | 6.75% – 10% |
| Rate Type: | Fixed and Variable Rates Available. |
| Origination Fee: | 2% – 4% |
| Processing Costs: | $395 – $695 |
Apartment Building Buy & Hold Loans
| Eligible Property Types: | Apartment Building (5+ Units) |
| Eligible Uses: | Acquisition, Refinance, and/or Renovations. |
| Loan Term: | 2 – 30+ years. |
| Min. Loan Balance: | $250k (with some exceptions) |
| Max LTV (Purchase Price): | 60% – 70%, with up to 80%+ for highly qualified repeat Borrowers. |
| Max LTV (Rehab Costs): | 90% – 100% |
| Interest Rate: | 6.75% – 10% |
| Rate Type: | Fixed and Variable Rates Available. |
| Origination Fee: | 2% – 4% |
| Processing Costs: | $395 – $695 |
Commercial Real Estate Loans
| Eligible Property Types: | Click here for a list of eligible property types. |
| Eligible Uses: | Acquisition, Refinance, and/or Renovations. |
| Loan Term: | 1 – 30+ years. |
| Min. Loan Balance: | $500k (with some exceptions) |
| Max LTV (Purchase Price): | 60% – 70%, with up to 80%+ for highly qualified repeat Borrowers. |
| Max LTV (Rehab Costs): | 90% – 100% |
| Interest Rate: | 6.25% – 12% |
| Rate Type: | Fixed and Variable Rates Available. |
| Origination Fee: | 2% – 4% |
| Processing Costs: | $695 – $1295 |