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Researched by the Hard Money Lenders by State team. Updated October 22, 2026. Based on each lender's published information; we did not apply for loans.
Requirements at a glance
| Lender | Min credit | Experience | Income documents | Appraisal | Min loan |
|---|---|---|---|---|---|
| Lima One Capital | 660 | One investment exit in the last 36 months | Not stated | Not stated | $100K |
| Easy Street Capital | 600 | First-time flippers welcome | Not stated | Not required | $75K |
| Express Capital Financing | 600 | Not stated | Not stated | Not stated | $150K |
| RCN Capital | 650 (720+ for top tier) | Tiers from 0 to 10+ flips | Not stated | Not stated | $75K |
| Ternus | 660 above $500K | Elite tier: 10+ projects in 36 months | Not stated | Only above $500K | $50K |
| Kiavi | Not stated | Programs for emerging to high-volume investors | No income verification | No appraisal | $100K |
| LendingOne | Not stated | Not stated | No W-2s or tax returns | Not stated | $100K |
| Upright | Not stated | First-time investors welcome | Deal-based, not income documents | Not stated | $125K |
| New Silver | Not stated | Not stated | No income verification | Not stated | Not stated |
From each lender's own website, read October 22, 2026. "Not stated" means we did not find it on the lender's pages.
Credit score
Published minimums run from 600 (Easy Street Capital, Express Capital Financing) to 650 (RCN Capital) and 660 (Lima One Capital, and Ternus above $500,000). Credit also moves pricing and leverage: RCN's best tier needs 720+, and Ternus sets bridge leverage at 80%, 85% or 90% of purchase depending on your score. We found no national lender on our list that publishes a minimum below 600.
Experience
You can get a hard money loan on your first project, but you will usually get less leverage and a higher rate.
| RCN Capital tier | Experience | Leverage | Starting rate |
|---|---|---|---|
| New investor | Up to 2 flips in the last 3 years | Up to 80% of purchase + up to 100% of renovation, max 70% of ARV | From 10.74% |
| Intermediate investor | 3 to 5 flips in the last 3 years | Up to 90% of purchase + up to 100% of renovation, max 72.5% of ARV | From 10.24% |
| Experienced investor | More than 10 flips in the last 3 years, 720+ FICO | Up to 95% of purchase + up to 100% of renovation, max 75% of ARV | From 9.24% |
Lima One requires one exit of an investment property in the last 36 months; Upright and Easy Street Capital say first-time investors are welcome.
Down payment and cash to close
You fund whatever the lender's limits leave uncovered, plus closing costs, points, and often a few months of interest. On a $250,000 purchase with a $60,000 rehab, published rules leave you bringing $12,500 to $50,000 before costs when the after-repair value is $420,000. The worked deal shows each lender's math and what happens when the ARV comes in lower.
The property
- Investment property. RCN Capital lends on non-owner-occupied property, and Georgia Private Loans on non-owner-occupied residential and commercial property. A few lenders, such as North Coast Financial and Source Capital Funding in California, list owner-occupied loans.
- Minimum values. RCN Capital needs an after-repair value of at least $100,000 for a single-family home.
- Location. Ternus needs the county to have at least 100,000 people for fix-and-flip and bridge loans, and several lenders exclude whole states or cities. Check your state page.
What to have ready
Lenders that size loans on the deal will want to see the deal: the purchase contract, a line-item rehab budget and scope of work, comparable sales that support your after-repair value, and a list of past projects if you have them. Expect a credit check and proof of funds for your down payment and closing costs. Many investors borrow through an LLC, and some rental lenders, such as Lima One, require one.
Steps to qualify
- Check your credit against the 600 to 660 minimums above.
- Run the deal through each lender's limits: purchase, rehab and ARV caps. The lowest one sets your loan.
- Line up cash for the gap, closing costs, points and a few months of interest.
- Request term sheets from two or three lenders that cover your state and compare the total cost, not just the rate.
- Confirm the exit: a realistic sale price, or the DSCR refinance math if you will keep the property.
Not financial advice. Every rate and term here is the lender's own published figure on October 22, 2026; confirm current terms with the lender before you apply.
Related guides
Frequently asked questions
How do you qualify for a hard money loan?
Bring a deal that fits the lender's leverage limits, a credit score at or above its minimum (600 to 660 among lenders that publish one), cash for the gap and closing costs, and for the best terms a track record. Several lenders say they do not require tax returns or income verification.
How difficult is it to get a hard money loan?
The paperwork is lighter than a bank loan: LendingOne says no W-2s or tax returns, Kiavi and New Silver advertise no income verification, and Upright says decisions hinge on the deal. The deal itself has to work, though: leverage is capped at 70% to 80% of ARV and new investors get less.
Can I get a hard money loan with bad credit?
With a score of 600 or more, Easy Street Capital and Express Capital Financing publish minimums you would meet. We found no national lender on our list that publishes a minimum below 600; some local lenders do not publish a minimum, so ask them directly.
Can I get a hard money loan with no experience?
Yes. Upright and Easy Street Capital say first-time investors are welcome, and RCN Capital lends to new investors at up to 80% of purchase and 70% of ARV. Lima One requires one investment property exit in the last 36 months.
Do hard money lenders verify income?
Many do not. LendingOne says it does not require W-2s or tax returns, and Kiavi and New Silver advertise no income verification.
How much down payment do I need for a hard money loan?
It depends on the lender's limits and your after-repair value. With 90% of purchase and 100% of rehab financed, a $250,000 purchase needs $25,000 down plus closing costs; lower ARVs or new-investor tiers raise that.