Is Hard Money Lenders IO a Viable Choice for Your Next Project? An Unbiased Review


Investment in real estate is a great step toward overcoming financial barriers and growing your savings. The irony is that those exact barriers can stop you from getting the financing you need, especially if you’re dealing with banks.

Investment or commercial loans require excellent credit scores and cash reserves if you request funding via traditional channels. That’s where hard money lenders like Hard Money Lenders IO come in, allowing borrowers access to private capital without too many entry restrictions.

Hard money financing products vary across lenders, so it’s important to evaluate your options before committing to a loan. In this article, we will discuss Hard Money Lenders IO’s:

  • Range of products
  • Eligibility terms
  • Service quality and market standing

We will also provide a list of alternative lenders with similar product profiles.

Hard Money Lenders IO—Products Available

Hard Money Lenders IO makes its primary product clear in the name—the company offers hard money loans that require a “hard” or “tangible” asset to back the debt’s value.

Hard money loans are a popular instrument for investing because they’re offered for a short period (1–3 years) with competitive interest rates and interest-only monthly payments. These products can work for various real estate scenarios, provided the lender is willing to service the deal.

At Hard Money Lenders IO, you can secure funding under five major categories:

  1. Rehab and construction loans
  2. Home equity-based loans
  3. Lease and rental property loans
  4. Bridge loans
  5. Foreign national loans

Rehab and Construction Loans

If your investment avenue consists of rehabbing a shabby property or building a new one, Hard Money Lenders IO can help you with the following products:

  • Fix-and-flip loans—Hard Money Lenders IO’s fix-and-flip loans help you renovate residential properties for resale in short timeframes. The lender can fund up to 75% of the after-rehab/repair value (ARV)
  • New construction loans—Most hard money lenders avoid funding ground-up construction projects because there is no collateral to back the loan. Hard Money Lenders IO can offer construction financing based on up to 60% loan-to-value (LTV) of the land, which is great for covering initial construction expenses

Source: Annie Gray

You need a minimum credit score of 600 to qualify for fix-and-flip and construction loans at Hard Money Lenders IO. The following table explains the primary setup of these products:

ParametersRehab/Construction Loans
Lending limit$100,000–$5,000,000
Interest rates9%–12%
TenureUp to 2 years
Advance rate10%
Eligible property Single-family home
Multi-family home
Mixed-use property

The lender may service inexperienced property flippers, but real estate experience is vital if you want to apply for construction funding.

Home Equity-Based Loans

Equity-based loans are for investors who want to free up the equity from their current portfolio or home for new ventures. For any property, equity is the difference between the current market value of the property and the mortgage balance. No mortgage on the property signifies the owner holds 100% equity.

Hard Money Lenders IO offers two equity-based products:

  1. Second mortgage—A second mortgage (also called a junior mortgage) is taken after the first mortgage on your property. You basically end up with two mortgages, although the second one is pricier because the arrangement increases the lending risk
  2. Cash-out refinance—If you find two mortgages inconvenient, a cash-out refinance may make more sense to you. Hard Money Lenders IO’s cash-out refinance will settle your existing loan and give you an extra sum based on the property equity. You have a single, streamlined mortgage for a larger amount (old mortgage + equity portion)

One of the best aspects of the lender’s equity-based loans is flexible usability. Hard Money Lenders IO allows using equity funds for real estate investment or personal expenses. You may have to prove that you can afford the loan by providing details about your:

  • Income, assets, and liabilities
  • Credit history and current score
  • Employment history and job stability
  • Debt-to-income ratio (DTI)

Lease and Rental Property Loans

If you dabble in long-term revenue-generating real estate, Hard Money Lenders IO can help you acquire suitable commercial and residential properties. The group offers commercial hard money loans for acquiring business-zoned properties, such as hotels, gyms, and restaurants. These products are designed after an assessment of the risk involved and the asset capitalization rate. Depending on the type of lease you use, you should have a good spread between the property’s annual income and encumbrances.

Hard Money Lenders IO also offers rental loans for family homes on similar profitability principles. The product is typically set up to support borrowers with a BRRRR (Buy, Rehab, Rent, Refinance, and Repeat) strategy.

The group’s commercial and rental loans are usually offered for a period of six months to three years, but you can get an extension if you don’t sell the property or get a refinance.

Bridge Loans

Hard Money Lenders IO bridge loans help an investor purchase a new property while they’re waiting for an existing property to be sold. You can ask for an amount equal to the equity in your current property and use the sum to cover the down payment on your new purchase.

Using a bridge loan allows you to remove the contingency clause from the purchase offer on the new property. Hard Money Lenders IO is open to funding bridging products to consumers (non-investors) transitioning between homes, provided they meet the documentation requirements.

Foreign National Loans

Hard Money Lenders IO provides foreign national loans to non-U.S. citizens who don’t have documents to support their financial stability, income stream, and credit standing. The applicants can qualify for all types of real estate programs offered by the group and are typically evaluated based on the monetary prospects of their deal. 

Source: fauxels

How To Acquire a Hard Money Lenders IO Loan

Hard Money Lenders IO has no online application system—you have to call the team via phone (at (786) 475-7691) to discuss your deal. The Get Approved button on the website also directs you to the phone call service.

A typical processing cycle at Hard Money Lenders IO goes through the following five stages:

  1. Prequalification
  2. Documentation
  3. Package setup (based on the documents provided)
  4. Property inspection (a part of due diligence)
  5. Closing

The necessary paperwork requirements depend on the program you want. Here are some of the documents you may be asked to submit:

  • Pay stubs (documenting at least 30 days of income)
  • Names and addresses for each employer over the past two years
  • Tax returns and W2 forms
  • 4506-T or 4506T-EZ forms (signed), dependent on your mortgage banker
  • Proof of pension income, if applicable
  • Social Security and Social Security Disability payments, if applicable
  • Bank statements (dating back two or three months)
  • Statement of outstanding debts (student loans, credit card debt, etc.)
  • Child support or alimony payments (optional)
  • Asset schedules, including stocks and life insurance accounts

Hard Money Lenders IO can complete the processing within a week. Qualified applicants get access to funds within 14 business days after approval.

Hard Money Lenders IO—Customer Service and Market Standing

Hard Money Lenders IO has a customer service rating of 4.6 stars on Google (based on five reviews). The group seems to have decent customer handling, but since they mostly deal in the profit-generating commercial real estate space, they cannot help homeowners looking for assistance with self-occupied properties. Some customers may also find the advance rate of 10% (for all packages) to be too low.

As far as market standing is concerned, Hard Money Lenders IO operates from North Miami Beach and is competing in the Florida ecosystem. The state has many 5-star rated lenders offering financing in a shorter timeframe—say, within a week—and with fewer entry restrictions and paperwork demands, which may impact the group’s attractiveness as a hard money lender. We cannot comment on the cost-effectiveness, though, as all pricing components of the group are not available online.

Hard Money Lenders IO specifies that they may overlook poor credit scores or documentation requirements if the deal is good, so it’s best to contact the group to get relevant info.

In case you’re looking to work with a 5-star rated lender offering an effortless borrowing structure, Florida-based Hard Money Loan Solutions (HMLS) is the perfect partner for your real estate conquests!

Hard Money Loan Solutions—Making Funding Fast, Easy, and Reliable

Hard Money Loan Solutions (HMLS) is one of the best private lenders for asset-based funding, catering to everyone in the real estate industry, including:

  • Property flippers
  • Commercial or residential property investors
  • Foreign nationals
  • Homeowners
  • Rental property owners
  • Property developers
  • Business entities and corporations

At HMLS, your credit score, DTI ratio, and other financial elements are of little significance as the group honors authentic asset-based financing. If your collateral is solid and your repayment strategy makes sense, you will qualify. HMLS follows the best practices of hard money lending, which include:

  • Fast closing—HMLS closes loans and forwards funds within 3–10 days for ordinary deals. If your situation is complicated (say, you need to collateralize multiple properties), the closing may take up to 14 days
  • Minimal paperwork load—The reason why HMLS delivers quickly is its essentials-only approach to paperwork. In most cases, the group relies on property documents or construction plans to steer the decision-making process. You’ll never be asked for unnecessary documents like tax returns or bank statements
  • Flexible funding—The HMLS group consists of lenders and entrepreneurs with decades of real estate experience. They know every deal requires a unique approach and optimize programs to serve the borrower’s situation 

HMLS has a record of providing exceptional customer service—reach out to the team today and get a free consultancy on suitable funding options. 

Source: Google Reviews

HMLS Programs and Terms

HMLS has customized loan programs for all real estate scenarios, including:

HMLS is also open to funding new businesses, investors, and inexperienced house flippers—the lenders will offer one-on-one guidance as required. The group sticks to uniform lending parameters for commercial, rental, and residential loans. Here’s a sample of what a package could look like:

ComponentsHMLS Loan
Minimum credit scoreNot required
Funding range$100,000 to $50,000,000+
LTV (loan-to-value) offeredUp to 70% of the lower of:
Purchase price 
Appraised value
Interest rate (depends on LTV)9.99%–12% 
Rate typeFixed
Tenure1–3 years
Down paymentNo deposit required
Installment typeInterest only (no amortization)
Funding time3–14 days
Origination fee2 points or 2%
Prepayment penaltyNo penalty after six months

Contact HMLS to learn more about your eligibility for a tailor-made loan package. The group has experience with all types of residential and commercial structures—check out some of their recently funded properties.

HMLS deals are the most competitive in the industry because the group values ethical profit-making, upholding complete transparency in its lending process. The applicant gets a clear picture of the effective annual rate and reasonable cost components, so there is no fear of junk fees hidden under faux elements like:

  • Processing
  • Underwriting
  • Digital retention
  • Inspection

Apply for HMLS Financing Online and Get Approved Within a Day

HMLS has set up an online application process to enable a time-conscious funding cycle. Most loan requests go through three stages:

  1. Pre-approval—You complete a quick online form specifying the property details and the basic funding requirements. HMLS lenders review the property beforehand and call you to have a discussion over the phone
  2. Appraisal—If you’re approved, the lender completes a property appraisal to design a customized, legally compliant loan package
  3. Closing—Once you accept the loan terms, the team gets the loan paperwork done and sends the funds to your desired account

HMLS clients enjoy supreme autonomy over transactions. For purchase deals, making down payments is not compulsory—you can access the LTV funds and manage the transaction on your own. In case you have construction-based projects, the team can help you set up a draw schedule as per your needs. HMLS is open to modifying loan terms on a need basis.

Source: Tima Miroshnichenko

If you want to chew over your private lender options, we’ve made the chore easier for you! Check out our detailed reviews on other competitors of Hard Money Lenders IO:

Featured image source: Ivan Samkov

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