8 Best Hard Money Lenders in Pennsylvania


Hard money lenders in Pennsylvania are ready to lend to qualified borrowers.

Key Terms

  • A hard money loan is an asset-based loan often used for fix and flip projects, rental income properties, and bridge loans.
  • Most hard money lenders in Pennsylvania are private investors or members of an investment firm.
  • Though interest rates on hard money loans are higher, the loans are ideal for short-term needs of often no more than five years.

The Commonwealth of Pennsylvania is a Mid-Atlantic state located on Lake Erie. It is the fifth largest state by population, with over 13 million people calling it home. About half of the population is concentrated in the southeastern portion of the state around the city of Philadelphia. The Philadelphia metro area is home to over 1.6 million people itself. Other large cities in Pennsylvania include Pittsburgh, Reading, Allentown, Erie, and Scranton. A beautiful state thanks to the Appalachian Mountains that run through it and numerous rivers and streams, many people come to vacation here. Its economy is diverse as well, with a focus on industrial industries, as well as agriculture, gambling, and finance.

Those who buy a home in Pennsylvania will find home prices can be very dependent on the location. Home values in Philadelphia, for example, are much higher than those in more of the rural areas of the state. The median sale price for a home in Pennsylvania is $211,192, according to the Pennsylvania Realtors Association, which is quite affordable compared to other states like it. More so, the state has a competitive real estate market where home values have grown steadily over the last 10 years.

There are some areas where more urban development is present, which could account for smaller and multifamily homes. Other areas have much larger homes and, in some situations, near the mountains and resorts, a number of short-term rentals exist here as well.

When it comes to homeownership, the U.S. Census Bureau states that 70.7 percent of people in Pennsylvania own their homes, and 29.3 percent rent them. That is a high level of homeownership, but it is also very much dependent on location. In areas like Pittsburgh and metro Philadelphia, rental real estate is far more common. With just 4.3 percent of rentals in the state vacant, there could be opportunity here for those looking to purchase property for rental income.

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How hard money loans work

A hard money loan is a type of asset-backed loan. That means the real estate itself helps to secure the loan. A hard money loan in Pennsylvania is often offered by private investors and investment firms for properties that are traditionally harder to obtain financing for through a traditional bank. These are high risk properties such as fix and flip projects, rental income properties, bridge loans, and commercial real estate developments.

They may include multifamily homes or single family homes. In some cases, they may be used for vacation rental properties as well. In these loans, if the borrower stops making payment, the lender can pursue foreclosure to recoup some of its investment into the property itself. This can help to reduce some of the risks.

Most of the time, hard money lenders in Pennsylvania offer these types of loans as short term financing. Most are in place for 1 to 5 years. With a fix and flip loan, the lender will expect that the home will be purchased, repaired, and sold within that time. In some cases, they may even allow for the after repair value (ARV) of the home to be used instead of the current value.

This could make it easier for the borrower to obtain the loan. In many situations, ARV of up to 70 percent can be ideal for properties that will become rentals later but need a lot of work now.

In addition to this, most of these loans tend to have a higher interest rate and fees. Interest rates may range from 8 to 15 percent. Lenders often have numerous qualifications as well, such as requiring a certain credit score from the borrower or requiring a significant down payment. However, there is typically more flexibility in these loans than with bank regulated loans in each of these areas.

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8 Top Pennsylvania hard money lenders

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

1. BridgeWell Capital 

BridgeWell Capital got started in 2008 and, according to their website, has funded over $500 million in real estate investment deals. They lend throughout the midwest and eastern part of the country and offer the typical suite of private money financing.

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

  • Rental loans require 25% down
  • Residential and commercial properties ok
  • No tax returns or income verification
  • 5-year rental loan term
  • Fix and flip loans can cover 100% of rehab costs
  • Up to 75% ARV
  • No interest on undrawn rehab funds
  • No pre-payment 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.

2. LendingOne

LendingOne focuses exclusively on real estate investor loans. Started in 2014 by Bill Green and Matthew Neisser, LendingOne acts as a direct private lender offering products like portfolio rental loans, DSCR loans, fix and flips, multifamily and new construction loans.

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

  • For rental property loans, they can finance from $75K to $5 million with up to 80% LTV for purchase and refinance and up to 75% LTV for cash out refinancing.
  • For fix and flip, they can finance up to 90% of the purchase and repair budget with interest only payments for up to 24 months and no pre-payment 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. Stratton Equities

Stratton Equities is a nationwide direct hard 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
  • Investment properties only
  • Single-Family, Condos, Townhomes, Multi-Family, Commercial, Mixed-Use, Office, Retail, Industrial and Warehouse are all ok
  • Up to a 75% LTV
  • 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. 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.

5. 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.

6. 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.

7. 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.

8. 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.

How are Pennsylvania hard money loans from other loans?

Pennsylvania hard money loans are substantially different from other types of loans meant for purchasing real estate. First, they are from private investors who set the terms of the loan, including the eligibility requirements for all borrowers. In addition to this, these loans are not regulated like big bank loans, which makes them more accessible to borrowers looking to purchase higher risk properties that many traditional lenders could not offer.

They also may be based on the ARV of the property rather than the current condition and value of the home. That means that lenders are more willing to see what the home is actually worth when all of the repairs on it are complete. That is not the way conventional loans work. For fix and flip or rental properties that need a lot of repair work, this can prove to be very valuable.

The next way that Pennsylvania hard money lenders stand out is that these loans are typically for 1 to 5 years. Conventional loans typically range from 15 to 30 years. These are not loans meant to be in place for decades, and that means that the higher cost of interest and fees may be acceptable in the short term if the borrower plans to sell the property or refinance it sooner.

On top of that, many of these loans can close faster than the average conventional loan. Conventional loans typically take up to 90 days, whereas a hard money loan may be wrapped up within 30 days, ensuring investors can move quickly on properties.

If you have a good track record with rental properties, underwriting through a private money lender might be easier than you expect. Research your residential real estate options and the purchase price of what you have in mind to see if a hard money lender may be a solution for you.

Make sure you have clarity on what residential properties can be purchased using a hard money loan. These property loans are great for those who have a strong track record with owning rentals in the past, but requirements and things like origination fees may depend. Evaluate all real estate loans and new construction loans to make sure you’re picking the right product based on your needs.

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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