6 Best Hard Money Lenders in Utah


Hard money lenders in Utah are opportunities for investors to finance projects using private money.

Key Terms

  • A hard money loan is an asset-based loan provided for projects like fix and flip homes, bridge loans for new construction, and rental income property financing.
  • Hard money lenders may set their own rules and terms for these loans, often providing better access than typical banks.
  • For those who need short term loans of under 5 years, this type of financing option may prove to be the ideal choice.

Utah is a Mountain State in the western portion of the country. It’s home to over 3 million people, though as large as it is, it is far less densely populated than other areas. The area is stunning with its mountains, deserts, and densely forested areas. There are two primary areas of urban development here. The first is the Wasatch Front, where Salt Lake City is located. In addition to this, Washington County is also a more densely populated area. Overall, Utah is noted for having extensive health care, education, and infrastructure systems in place. It also has a strong tourism, mining, and energy economy. Quite diverse and full of opportunity, there are many reasons to live in Utah.

For those looking for affordability, home values can be very competitive. There are some areas where the home values are very high and others where the cost of living is much longer. Utah property owners often own larger lots than most typical property owners. However, overall, it can be costly to buy a home here. The median sale price for a home in Utah is currently $535,050, according to the Utah Realtors Association, and that’s due to a significant amount of demand, lower inventory levels, and a higher quality of home. The area has seen home prices increase year over year for some time, and that may continue allowing buyers to build equity if it does.

When it comes to rental property, the high value of homes here has led to a sizable number of people renting. The U.S. Census Bureau notes that 70.6 percent of people own their homes here, and 29.4 percent rent them. Of those, 4.7 percent of rental properties are vacant. That could indicate to some buyers that there is room for investors who wish to purchase, renovate, and list homes for sale or create income properties.

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How hard money loans work

Hard money loans are a type of asset-based loan. That means the value of the property helps to secure the loan. Borrowers who wish to purchase homes for income properties or fix and flip properties may wish to turn to hard money lenders in Utah to do so. That is because these types of properties can be hard to purchase through traditional loans. For that reason, it is often necessary to turn to lenders who offer more competitive and better accessible loans. Hard money loans can be a wise decision for some situations.

Hard money loans in Utah are available, but these lenders do have a number of key requirements. Most will require a borrower to have a good or better credit score. They often require a down payment as well. Unlike traditional lenders, though, the rules on these can be much different, and some lenders are much more flexible than others. Hard money loans will typically have a higher interest rate than loans from traditional banks. That higher cost comes from the increased risk that lenders take when providing these loans.

Also important, these loans are often in place for a shorter period of time. This is often 1 to 5 years, instead of much longer loans in a traditional bank. The shorter team allows the borrower to purchase the property, repair it, and then resell it or refinance the loan quickly, often keeping costs more affordable. These are not meant to be long term loans, and that is why the higher interest rate on them tends to be acceptable to borrowers, especially to borrowers who may be unable to obtain a loan through other methods.

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6 Top Utah hard money lenders

Some lenders only offer hard money loans to experienced investors, while other programs can lend to those that are pursuing their first real estate investment.

1. Private Money Utah

Private Money Utah is a private money lender that has been providing hard money loans to real estate investors and businesses in Utah since 2008. They are a wholesale lender that offers fix and flip loans, residential bridge loans, commercial bridge loans and land loans/construction loans.

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

  • For fix and flip properties, loan amounts are available up to 65% of the after repaired value with terms up to 12 months and a max loan amount of $1 million
  • For residential bridge loans, loan amounts are available up to 90% of the purchase price and loan terms range from 12 months to 30 years with no credit check 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. Juniper Capital

Juniper Capital focuses on hard money lending projects in the northwestern part of the United States. Based in Seattle, they offer private money products like bridge and hard money loans.

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

  • Commercial real estate, $500K to $20 million with terms from 1 to 36 months.
  • Multifamily residential properties, from $500K to $20 million with terms from 1 to 48 months.
  • Single family residential, from $100K to $7 million with terms from 1 to 36 months.
  • Construction projects from $500K to $20 million with terms from 1 to 36 months.

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. 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.

5. 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.

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.

How are Utah hard money loans from other loans?

Utah hard money loans can be significantly different than the traditional loan from a bank or a credit union to buy a home. First, they are typically used only for investment property, including fix and flip, rental income properties, and commercial real estate development. That’s much different than loans for residential purchases. They tend to have much shorter terms, ranging from 1 to 5 years instead of the 15 to 30 years that are typical with a traditional conventional loan.

In addition to this, Utah hard money lenders often work closely with borrowers to ensure they get the terms and conditions best suited for their needs. This could include a lower down payment requirement or approval of a loan for someone with ample rental experience but without a high credit score. They are more flexible like this because they have fewer restrictions and regulations in place that must be met to obtain the loan. A private money loan is a strong alternative for a borrower who wants to expand their investment portfolio.

Also important for many of these properties is that the loans may be based on the after repair value of the property rather than the property’s existing condition and value. Often, borrowers purchase homes that need a significant amount of work or updating or may have plans to renovate the property into an income producing one. Since the loans can be based on the after repair value, they can be much higher and easier to obtain.

There are other differences in Utah hard money loans, such as a faster closing time as well as the higher interest rate and fees. Each loan is also very different. Borrowers may wish to work closely with these lenders to create a loan that fits their specific financial needs for the property. Make sure you set aside some to talk to various people in the industry about your best options, including mortgage brokers familiar with construction loans and a private money lender, too.

Finding the right lender partner can make a big difference in the process when shopping around for real estate loans depending on your chosen property types. Review our list of private money Utah lending partners to make the best choice for you when buying residential properties for your real estate projects in Provo, Salt Lake City, or elsewhere in Utah.

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.

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