7 Best Hard Money Lenders in Idaho


Hard money lenders in Idaho are private money sources for real estate investment deals and other private investment transactions.

Key Terms

  • A hard money lender provides investors and other borrowers with access to competitively priced private money loans for investment properties.
  • These loans tend to be short term, available while homes are updated and repaired to be sold or refinanced afterward.
  • Hard money lenders in Idaho set the terms and conditions for their loan rates but often take on higher risk loans and borrowers.

Idaho is a state in the Pacific Northwest that is noted for its agricultural importance to the country. It is a beautiful place to live, with rolling valleys and miles and miles of prairies along with areas where the Rocky Mountains are. The state is more rural than other states, but it is home to nearly 2 million people. The state’s economy is often based on agriculture as well as manufacturing, forestry, mining, and, in some areas, tourism. Idaho is known as the Gem State thanks to its natural beauty. Some of the largest cities here include Boise, Meridian, Twin Falls, Lewiston, Pocatello, and Orofino, though there are many small communities located throughout the state.

Though it may seem like a state with more rural areas, and it may seem like homes should be much more affordable here. However, that is not always the case. The median sale price of a home in Idaho in 2022 was $466,435. That is a high value, and one of the key reasons for it is that many of the homes here sell with a significant amount of acreage. It is a state where ranches and large estates are often passed from generation to generation, or when sold, they often include lots of land with them. That can increase the value of homes here. There are some areas of the state that have much lower home values, especially in the suburban areas of Boise like Coeur D’Alene.

When it comes to rental history, about 66.8% of people in the state say they own their homes, according to U.S. Census Bureau data. About 33.2% rent their homes. That is about average for the country. The current rental vacancy rate is 7.9%. That could mean there is some demand in key areas for rental property in this state. The key here would be to learn as much about the local area to determine just how in demand rentals are within those individual communities.

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How hard money loans work

Hard money loans are a type of real estate loan often used for hard to finance properties such as fix and flip homes, rental investment property, and commercial real estate investments. These loans are backed by the value of the property. This provides lenders with a bit more security in offering these loans, allowing them some flexibility to lend in these situations. Hard money lenders in Idaho set the terms and conditions for these loans, providing borrowers with more access to the funds they need.

Idaho hard money loans typically are backed by the value of the property, but there are some advantages here in that they can be valued at the after repair value. This is one of the key benefits of these loans because they allow borrowers to obtain the funds they need to buy the property as well as renovate it as needed. Many people who utilize hard money loans in Idaho do so because they can be flexible to meet the needs of challenging properties, such as homes that need a significant amount of updating or repairs before they can be sold again.

Most hard money lenders in Idaho offer these short term loans at competitive interest rates and short terms. The terms are typically between 1 and 5 years. After that point, the property owner has likely sold the home, if a fix and flip or refinanced it. For those who are looking to help rejuvenate a community or create rental income through modifications to existing loans, this can be critically important – having fast access to competitive loans.

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7 Top Idaho hard money lenders

If you’re ready to learn more about the best hard money lenders in Idaho, here are the top options we’ve found through our research.

1. WADOT Capital Inc

WADOT Capital is headquartered in Seattle and lends in the states of Washington, Oregon and Idaho. Founded i n2001 by Erik Egger, they primarily focus on hard money projects related to construction financing, rehab loans and farm loans.

We contacted WADOT Capital Inc to learn more about their private lending business and here are some of the highlights:

  • Terms are typically 1 to 2 years
  • Borrower is responsible for all broker and/or 3rd party fees
  • Interest rates are typically in the 10.5% to 12.9% range
  • The origination fee is based on the contract term and is 4% for 24-month contracts, 2.5% for 12-month contracts and 3% for 6-month contracts

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

2. Northwest Private Lending

Northwest Private Lending is a family-run company with 30 years of lending experience primarily servicing the Oregon, Idaho and Washington areas. Located in Lake Oswego, they provide fix and flip loans, rehab and refinance loans, bridge loans, commercial loans, construction loans and 1031 loans.

We contacted Northwest Private Lending to learn more about their private lending business and here are some of the highlights:

  • Loan origination fee is 3 points or a $2,500 minimum fee
  • Loan amounts range from $50,000 to $2 million
  • Loan terms are 1 month to 10 years
  • Interest only
  • No property appraisal required
  • No prepayment penalty

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

3. Stratton Equities

Stratton Equities is a nationwide direct private money lender for real estate investors. Founded by Michael Mikhail in 2017, Stratton Equities has over five years of experience in the private lending market.

We reached out to Stratton Equities to get more information about their hard money lending program and here are some highlights:

  • Loan amounts from $100,000 up to $5 million
  • Non-owner investment properties only
  • Includes property types like single-Family, Condos, Townhomes, Multi-Family, Commercial, Mixed-Use, Office, Retail, Industrial and Warehouses
  • Up to a 75% LTV (loan to value)
  • Rates start at 7.25%
  • Interest only payments
  • Loan terms are 9-24 months
  • Foreign nationals are eligible
  • No prepayment penalty option is available

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

4. Easy Street Capital

East Street Capital is based in Austin, Texas but lends nationwide except in North and South Dakota. Founded by Stephen Hagerman in 2016, Easy Street Capital has over six years of experience in the real estate investing world.

We reached out to Easy Street Capital to learn more about their hard money loans and this is what we found:

  • Interest rates range from 6.9% – 10.9%
  • Points range from 2-3
  • There is a $1495 document fee
  • No minimum credit score required
  • Down payments of at least 10% required
  • Renovation financing ok
  • Fix and Flip loans do not typically have prepayment penalties

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

5. HouseMax Funding

HouseMax Funding is a private lender based out of Austin, Texas but has a national footprint when it comes to real estate industry lending. Started by Jeff Fetcher and Alex Morris, HouseMax provides asset-based loan financing to investors for real estate transactions.

We reached out to HouseMax to learn more about their hard money lending program and here is what we found:

  • Minimum loan amount is $75,000
  • Lends up to 75% of the after-repair value (APV)
  • 1-3 points origination charge
  • 3 months reserves required
  • Direct lender that approves loans internally and funds using their own private capital.
  • Lends in urban and suburban communities in all 50 states.
  • Goal is to close loans in 10 days or less.
  • Specializes in fix & flip loans, new construction and rental loans
  • Multi-family and commercial properties are ok

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

6. EquityMax

EquityMax is based out of Florida and most of its business in the state but is able to lend throughout the United States. Founded by Brad Emmer in 1990, EquityMax has decades of experience as a hard money lender.

We reached out to EquityMax to learn more about their hard money loans and these are the key highlights that you need to know:

  • Single Family Homes
  • 1-4 Multi-Unit Properties
  • Condos and Townhomes ok
  • Commercial property and Industrial Warehouses OK
  • Direct lender that has decision making over financing deals.
  • Can originate loans to individuals, LLCs, corporations, land trusts and self-directed IRAs.
  • No prepayment penalties
  • No minimum credit score required

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

7. LendSimpli

LendSimpli is a hard money lender based in Tampa, Florida. They can lend nationally in most states but may not be able to lend if the property is in a rural area. Founded by Brenden Crampton and Matthew Davies in 2018, they have nearly four years of experience in the private lending real estate investing market.

We reached out to LendSimpli to get more details about their bridge loan product and this is what we found:

  • Loan amounts up to $5 million for 1-4 unit properties
  • Loan amounts up to $20 million for 5+ unit properties
  • Single family (1-4 units)
  • Multifamily (5-20 units)
  • No owner-occupied properties
  • Loan terms 12-24 months
  • Interest-only payments with rates starting at 8.50%
  • Max LTC is 90% of project costs
  • Minimum credit score is 660
  • Prefer that you have at least two transactions in the past three years

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

How do Idaho hard money loans differ from other loans?

Hard money loans in Idaho differ significantly from traditional bank and credit union loans for several key reasons. First, these loans are more readily available for hard-to-finance real estate. There may not be as much scrutiny over an inspection or appraisal, which allows borrowers to get these homes quickly and affordably so they can update them and potentially resell them or rent them out.

These loans also provide borrowers with an opportunity to secure a loan quickly. Most of the time, a traditional bank loan will require as much as 90 days for the home to go through the closing and underwriting process. That can be too limited and hard to manage for investment purchases. Many Idaho hard loan lenders offer fast closing, getting the homes into the hands of investors often within 30 days. This can prove to be a valuable tool for investors looking to pick up a property that’s quite valuable.

Also, unlike construction loans, hard money loans can be based on the after repair value of the home. That allows borrowers to tap into more of the funds they need to buy a home that needs a significant amount of work completed on it.

Like most other lenders, hard money lenders require borrowers to meet specific requirements and eligibility requirements. Down payment requirements can also be lower, making these loans more accessible. Keep in mind that this can be less stringent because hard money lenders set their own conditions and do not have to follow big bank regulations. That can make it possible for borrowers to get more of what they need to make renovations on these properties and to do it quicker. It is important for borrowers to consider all aspects of these loans since they tend to have higher interest rates.

If you’re looking to explore hard money in other states, check out our national overview of hard money lenders as a starting point in your search.

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Joshua Holt

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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