Hard Money Lenders

Hi everyone, I am a new investor and am looking to buy and rehab preforeclosures and resell (flip). My credit score is not very High so I emailed various lenders and found some that would work with me. Only problem is they want $5000 to $10,000 up front and balance at closing. I’m in NJ, does anyone know of a lender that doesn’t need all this cash upfront and can obtain their cash at settlement?

Thanks for any help

Jack Klein

Howdy Jack:

Do not give anyone $5000 or more to process a loan. They may want you to have that much in the deal, even then I kept looking. I found one that wants a lot less into the deal. They are only local here in Austin. The more the equity the less you should have to put up but not until the closing. I do not know any lenders in Jersey. I have seen a lot of ads for some reason for scores above 580 and hard money loans. I consider this a regular loan as 580 is pretty good at least for me now.

Have you seen the link provided here with 70 some lenders.You can also search google to find some more. Tim has done a great job here with the list. Here is the link if you have not seen it:


Thanks for the info Ted, My score is 544 right now, It’s been 2 years since my chapter 7 bk, I have been great with my credit since then. The $5000 upfront fee from a lender was from the list you suggested.

Thank you


Howdy Jack:

Keep trying. When I first met Tim from the site I could not borrow enough to buy a paper. Helping others has buily my confidence up to where I can not fail. I am shocked at the 5 grand up front fee. There are a lot of points involved and the fee may be more than that but not before the loan closes and I usually borrow that too.

Please let me know which lender on that list asked for a 5k upfront fee. That’s ridiculous and I need to follow up with them. We can take this offline for your privacy, but I want to make sure I have all the facts before I contact them. Thanks.

Hello Trandle,

I was reading this post about hard money lenders. I just wanted to let you know that I canted one and when I talked to him. He said that they require 28% of the purchase price as a down payment.I know this is not what I was looking for.

I am a new investor and let him know that. That could be the reason.

Which HML was it? I need to know so that I contact them and possibly remove them from the list if this is true. Thanks.

Here is the info:

Lending Area California
Contact Ty Ebright
Address 4601 Walnut
City, State, Zip Soquel, California, 95073
Phone 831-462-6762

Does any one know a hard money lender on the list they have used or should I go through all of them?

(Moderator clarification - I contacted Ty and the loan in question was neither a rehab loan nor a typical investor hard money loan situation)

Finding myself in a similar situation, I too am looking for funding to help with the purchase of some investment property. I am located in southern California and looking for any hard money lenders that I may contact in the local area inregards to financing options. any help is greatly appreciated. Thanks.