Unfortunately, we do not issue loans for transactional funding.

Banks are typically unwilling to take on the additional risk associated with lending for non-owner occupied properties. The underwriting process for conventional mortgages is drastically different and not suited for funding these properties.

Fix and flip loans, which are a type of bridge loan, are made for this purpose and can fund up to 90% of a property's purchase price and up to 100% of any renovation costs needed to make a property safe, livable and ready for sale to a future buyer. LSM specializes in these loans. For more information on rates, you can fill out an application to receive a quote specific to your project.

Generally, the minimum required credit score for a fix and flip loan is 600.

You must contribute at least 10% of the total cost, which includes both purchase price and rehabilitation costs, at the time of funding. So the maximum loan value is 90% of the total cost.

Loans for purchasing and rehabbing properties must be at least $75,000 and generally no larger than $2,000,000.

A hard money lender is a private lender that lends on properties that traditional banks and mortgage companies won't finance, particularly properties that are non-owner occupied or currently not inhabitable.

A hard money lender specializes in funding non-owner occupied properties, either ready to rent or ones that need a repair and renovation. Generally they're backed by private equity firms compared to traditional banks and financial institutions.

No, hard money lenders offer bridge loans, refinances, new construction and other types of business purpose, non-owner-occupied real estate loans.

While some hard money lenders may, we currently don't provide funding on buildings that are residential in nature, such as houses and apartment complexes. Restaurants, retail stores, office space, and other commercial properties cannot be funded unless they are part of mixed-use buildings in which the majority of the space is residential.

Yes, but the property must be located in the United States and you must have a US-based bank account.

Yes, as long as the property is located in the United States and you have a US-based bank account.

Certainly! Our application process and self-service portal work on any desktop or mobile device. Apply in the page header on our website.

We do not run a hard credit pull for quoting the loan. Only once you decide move forward with the full application process, a credit and background check would be run.

Generally, an application to borrow is submitted containing what kind of property is being purchased, or if the property is owned and looking to refinance or withdraw equity. The borrower is then pre-qualified and given a rate quote based on their credit and amount being borrowed. If he/she decides to move forward, the formal application process begins and supporting documents proving income, property information and credit information are submitted to underwriting for review. Title search and appraisal are ordered. If the risk is considered within acceptable threshold, the loan moves forward to begin the funding process where eventually the loan is dispersed in a method specific to the loan type.

Hard money lender policies vary, but generally a soft credit pull may be used for a pre-qualification on the initial application to understand general eligibility and rates. This is similar to credit card pre-approvals, and the soft pull does not show up on your report. A hard credit pull is required when moving forward with the full loan application for funding.