6 Best Hard Money Lenders in Ohio


Hard money lenders in Ohio offer investment financing solutions to people looking to build short and long-term rental investment portfolios.

Key Terms

  • A hard money loan is a type of real estate-backed loan type designed for harder to finance properties.
  • With ample flexibility, many hard money lenders in Ohio can help to fund projects other banks and credit unions will not, including fix and flip homes, new construction loans and commercial real estate development.
  • Many hard money loans are ideal for those looking for short-term financing that’s under five years.

Ohio is a Midwestern state that’s home to nearly 12 million people. It’s one of the most densely populated states. Located on the shores of Lake Erie to the Ohio River and home to several large cities, including Columbus, Cleveland, Cincinnati, Akron, Dayton, and Toledo, it is a strong region for investment. The state is noted for its industrial development, as well as its other major economies of health care, agriculture, transportation, utilities, and education. Numerous large corporations call the state home.

Ohio is one of the most diverse regional areas with a strong cultural background. It’s noted as the birthplace of aviation and the home of several large colleges and universities. Ohio’s GDP is one of the largest in the country, too, thanks in part to its diverse economy and production-based industries. Overall, it offers a solid quality of life, a moderate cost of living, and numerous outdoor and indoor amenities that make it a good place to call home.

When it comes to overall affordability, Ohio real estate ranks about middle when compared to other states. Over the last ten years, home values have risen significantly in many areas, especially around the major metro areas of Columbus and Cleveland. Home values not within the city but within the suburbs around the major cities have done well. The average purchase price of a home in Ohio is $277,452, according to the Ohio Realtors Association, with various communities, especially urban areas, having values significantly lower than this.

Also notable are the rental properties here. The U.S. Census Bureau states that 67 percent of people in Ohio own their homes, and 33 percent rent. Of those residential properties, 5.4 percent of rentals are vacant. This could create an opportunity for investment for many people looking to invest in the real estate market within this region. It has a high percentage of rental demand and a moderate level of vacancies compared to other states.

Show Me Lenders

How Ohio hard money loans work

Hard money loans are a type of property loan designed to cover the cost of real estate investment. These loans are typically used for properties where the value of them is limited or in situations where traditional banks, mortgage lenders and credit unions are unlikely to approve the loan for underwriting. Hard money lenders in Ohio offer competitively priced loans that allow for the purchase of these higher risk properties, which could provide investors with funding options when other lenders cannot do so due to regulations.

Hard money loans in Ohio can provide a key benefit to borrowers, but they carry some risk for lenders. Keep in mind that lenders have the ability to force the sale of the home if the borrower fails to make payment, thanks to the fact that these are asset based loans. This is not ideal, and lenders will work to minimize this risk by working closely with borrowers to ensure they meet all necessary eligibility requirements. More so, hard money loans typically come with interest rates that are significantly higher than what is expected in a traditional loan. That higher rate, which can range from 8 to 15 percent.

Hard money loans are typically in place for under five years. During that time, borrowers typically will have refinanced the loan or would have sold the property. Because these loans are often used for fix and flip homes, bridge loans, or rental income properties, they tend to only be in place for a short period of time. These loans are often used as an opportunity to purchase the investment property right away but are not meant to be loans that are maintained long term.

Get Quotes for Your Loan

6 Top Ohio hard money lenders

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

1. Tidal Loans

Tidal Loans is based in Houston but provides hard money lending to real estate investors located in many states across the United States. They primarily focused on fix and flip loans, multifamily properties, bridge loans and rental property loans.

We contacted Tidal Loans to learn more about their private lending business and here are some of the highlights:

  • Rental property loans available for up to 30-year terms and a cash out of up to 80% LTV.
  • Interest only for three or five years
  • 85% LTV available on purchase properties
  • No experience required
  • No tax returns 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.

2. 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.

3. HouseMax Funding

HouseMax Funding is 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, 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.

4. 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.

5. 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.

6. Fund That Flip

Fund That Flip is a hard money lender based in New York that focuses on short term bridge loans for real estate investors looking to flip properties. Founded by Matt Rodak in 2014, Fund That Flip lends in most states.

We contacted Fund That Flip to learn more about their bridge loan program and here is what we found:

  • Up to 80% LTC and 70% ARV ratios for your project
  • Rates start at 9.99%
  • Direct lender with discretionary capital
  • Construction projects ok
  • 10% down payment 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.

Pros/Cons of Ohio hard money loans

Hard money loans offer a number of benefits but also a few disadvantages depending on the situation. Ohio hard money lenders are private investors, which means they are more willing to offer loans to those who may have a hard time obtaining a traditional loan. This is not necessarily ideal for those looking for a residential mortgage but rather for properties that are meant to be investments. These are loans that are often hard to obtain through traditional banks.

A key advantage of Ohio hard money loans is their value mechanism. A traditional loan is based on the value of the property right now, but with a hard money loan, it is based on the after repair value of the property. This is key because many of these loans are meant for properties that need a significant amount of rehab and renovation to make them livable again. For investors who do not want to put a significant amount of money into these loans from their pocket, hard money lenders work well.

There are other benefits to these loans as well, such as a faster close that often takes under 30 days. They may also have more lenient requirements for credit scores as well as down payments, though each lender sets its own rules for who is eligible for the loans. They are also less likely to need numerous inspections.

The biggest drawback of these loans is their much higher interest rates, often being twice as much as the current lending rate from traditional lenders. However, these loans are also for a much shorter term. Borrowers will need to keep in mind those differences and ensure profitability with any project they take on is a consideration when borrowing money for these properties.

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.

Find a Hard Money Loan Specialist

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.

Save more money than your friends

One email each week covers personal finance, financial independence, investing and other stuff for lawyers that makes you better.