Utah Hard Money Lenders for Real Estate Investors
Need a hard money loan secured by real estate in Utah? This page has a list of direct hard money lenders that offer quick funding for an Utah property purchase, refinance, fix & flip, rehab & rent, ground-up construction, and equity cash out in 1st lien position. Hard Money lending is only for investment properties, not for homesteads. The loans are mainly based on equity in the subject property. For most lenders, the maximum LTV is typically 70% for a purchase and 65% for an equity cash out loan. Scroll to see the list of lenders.Searching...
Sorry, your search returned no results.
Utah Hard Money Stats
According to private lending data provider, Analytics Logics, the average interest rate for Utah hard money loans in the 4th quarter of 2023 was 11.00%. The average LTV (loan-to-value) for private money loans in Utah was 68%, and the average loan amount was $599,750. These stats are the average of all the loans which were funded between October 1, 2023 and December 31, 2023 by the many private lenders who use Liquid Logics’ loan origination software to manage their lending operations.
Funded Hard Money Loans in Utah
Bench Equity, a direct lender for alternative loans, funded a $296,000 hard money loan in 1st lien position for the acquisition of a single-family residence in Springville, UT. We funded 80% of the $370,000 purchase price and the Borrower contributed 20% cash at closing. The first-time Bench Equity Borrower requested 80% of the purchase price with plans to self-fund the rehab. The loan moved from application to funded in 3 days thanks to our no bank statement, no appraisal, and no points loan program! The subject property was in good condition and vacant at closing. The Borrower plans to sell the property upon completion of rehab. The interest rate was 12.5%. The loan term was set at 6 months. This SFR hard money loan was funded in December 2022.