Ohio Hard Money Lenders
Need a hard money loan secured by real estate in Ohio? This page has a list of direct hard money lenders that offer quick funding for a Ohio property purchase, refinance, fix & flip, rehab & rent, ground-up construction, and equity cash out in 1st lien position. Hard Money lending is mainly based on equity in the subject property. The maximum LTV is typically 70% for most lenders. Scroll to see the list of lenders and continue scrolling ot see summaries of hard money loans funded by lenders in our network.Searching...
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Malve Capital LLC
Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.
Ohio Hard Money Interest Rates
According to the hard money loan documents software company, Lightning Docs, the average interest rate for Ohio hard money loans in the 1st quarter of 2024 was 11.78%. The average loan amount was $205,571. These stats are the average of 94 short-term loans (including bridge, rehab, and ground-up construction) funded for properties in Ohio between January 1, 2024 and March 31, 2024 by multiple hard money lenders that use Lightning Docs as their preferred software provider to prepare loan documents.
According to private lending data provider, Analytics Logics, the average interest rate for Ohio hard money loans in the 1st quarter of 2024 was 11.58%. Lenders charged an average of 2.2% points (origination fee). The average LTV (loan-to-value) for hard money loans in Ohio was 61%, and the average loan amount was $154,940. These stats are the average of all the loans which were funded between January 1, 2024 and March 31, 2024 by the many hard money lenders who use Liquid Logics’ loan origination software to manage their lending operations.
Top 10 Ohio Hard Money Lenders
According to Forecasaâ„¢, here are the Top 10 Hard Money Lenders ranked by the number of loans originated in Ohio in the last 12 months from March 2024.
- Kiavi
- RCN Capital LLC
- Constructive Loans LLC
- Wildcat Lending
- Lima One Capital LLC
- Upright
- ROC Capital
- Dominion Financial Services LLC
- MM Lending LLC
- Pic Fund I LLC (Rehabwallet)
Forecasaâ„¢ provides analytics data for Ohio hard money lending on a quarterly basis. You’ll find their top lenders data for many other states on our platform.
Hard Money Loan Transactions in Ohio
Hard Money Cash-Out Loan for Patterson Park Neighborhood Retail Property in Dayton, Ohio
$60,000
Gelt Financial, a direct commercial real estate lender, funded a $60,000 hard money equity cash-out loan secured by a small retail property in the Patterson Park neighborhood of Dayton, OH. The Borrower needed cash for another investment. The property was owned free-and-clear but no other hard money lender would consider a loan amount under $100K. The Borrower had poor credit, so he was having a hard time getting other types of alternative financing. We liked the deal because it was such a low loan-to-value of around 20%. The estimated value was around $300,000. The subject property had 3 units. All of them were leased. We looked beyond the Borrower’s poor credit and underwrote the loan based on the rental income. The loan term for our 1st mortgage was set at 60 months, amortized. The Borrower plans to eventually refinance after a few years. This hard money loan was funded in August 2021.