The best hard money lender for you is the one that funds your product, in your state, for your experience level — not simply the biggest name. This neutral rundown compares five leading national lenders on what actually decides a deal: their product mix, property types, closing speed, and experience requirements. We deliberately leave out rates and points, because those change constantly and vary by borrower; the durable differences are the mechanics below.
Disclosure: This guide is published by the Cook Brothers Mortgage Team at Cornerstone First Mortgage (NMLS #173855). We do not originate the hard money loans reviewed here; our specialty is helping investors refinance out of a maturing hard money loan (see the exit lane at the end). Lender details reflect publicly available program information at the time of writing and can change — confirm current state availability and requirements directly with each lender.
Context for where this market sits in 2026: per ATTOM’s 2025 year-end home flipping report, investors flipped 297,045 homes in 2025 — the fewest since 2020 — at a 25.5% gross return, the lowest since 2008, with the average flip taking 163 days to resell. Origination volume moved the other way: the American Association of Private Lenders and Forecasa reported bridge lending up 48% and DSCR up 108% year over year in the first quarter of 2025, and HousingWire reported that DSCR overtook bridge and fix-and-flip to become the majority of private-lending volume in 2025. That shift is why nearly every lender below now sells both the short-term loan and the long-term takeout.
1. Kiavi
A tech-forward national lender covering fix-and-flip and bridge, DSCR long-term rentals on single-family and small multifamily, and new construction. Its buy-and-hold DSCR product qualifies on the property’s cash flow rather than personal income, and it markets a dedicated track for new investors.
Best for: High-volume investors who want a fast, tech-driven flip-and-refinance pipeline.
Watch out for: Not available in every state, and experience level still influences leverage — a first deal typically qualifies for lower leverage than a seasoned track record.
Product mix, the buy-and-hold DSCR description, and the new-investor track are as published on Kiavi’s own program pages and are subject to change without notice.
Visit Kiavi2. Lima One Capital
A full-lifecycle lender with FixNFlip, Fix2Rent, BridgePlus, new construction, and rental/multifamily DSCR programs. Its new-construction underwriting specifically weighs prior construction or general-contractor experience.
Best for: Investors who want one lender across the whole flip-to-rental lifecycle.
Watch out for: Standard fix-and-flip underwriting references a prior completed “exit” within the last 36 months, and a higher minimum credit threshold on short-term products can be a barrier for true beginners. Does not lend in every state.
The FixNFlip, Fix2Rent, and BridgePlus program names and the 36-month prior-exit reference are as published on Lima One Capital’s own program pages and are subject to change without notice.
Visit Lima One Capital3. RCN Capital
A direct private lender since 2010 offering ARV-based fix-and-flip, short-term bridge, long-term DSCR on non-owner-occupied 1–4 unit and multifamily, and ground-up construction. It notably accepts completed flips as qualifying experience toward buy-and-hold financing.
Best for: Investors transitioning flips into long-term rentals under one roof.
Watch out for: Pricing and leverage tiers reward a track record, and state-level licensing availability varies — verify current status in your state before paying any upfront due-diligence costs.
The “direct private lender since 2010” claim and the completed-flip experience credit toward buy-and-hold financing are as published on RCN Capital’s own program pages and are subject to change without notice.
Visit RCN Capital4. Easy Street Capital
An asset-based lender with EasyFix fix-and-flip, DSCR rental, bridge, and new construction, known for fast closings and in-house draw management. The hard-money side uses no tax-return or income verification.
Best for: Speed-focused investors who want asset-based underwriting and quick draws.
Watch out for: Unusual geographic carve-outs apply — including specific metros, not just whole states — and a minimum credit score applies on the flip program. Confirm your target market is served before applying.
The EasyFix program description, the no-tax-return underwriting, and the metro-level carve-outs are as published on Easy Street Capital’s own program pages and are subject to change without notice.
Visit Easy Street Capital5. Groundfloor
A beginner-friendly lender for renovation bridge loans and new construction on 1–4 unit residential, with DSCR options. It underwrites the deal — ARV and a contractor-backed renovation budget — as heavily as the borrower’s track record, with no income documents required.
Best for: First-time and lower-experience investors who need deal-based underwriting.
Watch out for: Funds are released on a draw schedule as work progresses (reimbursement-style), so you must be able to front rehab work between draws, and state availability differs by product line.
The deal-based underwriting approach, the no-income-documents policy, and the reimbursement draw schedule are as published on Groundfloor’s own program pages and are subject to change without notice.
Visit GroundfloorThe Unclaimed Niche
Save My Hard Money Loan — Cook Brothers Mortgage Team
Every lender above is built to originate a hard money loan. Almost none is built to get you out of one on deadline. That is the lane the Cook Brothers Mortgage Team at Cornerstone First Mortgage works: planning the exit refinance — into a DSCR or conventional loan — before your balloon matures, so you are not scrambling after default-rate interest has already started.
Best for: Refinancing out of a hard money loan when it matures, before the balloon comes due.
Watch out for: Exits take time — start at least 90 days before maturity so an appraisal delay or title issue does not force an expensive extension.
See how to get out of a hard money loanHard money lender comparison
Mechanics only — product mix, property types, typical closing speed, and experience expectations. Always confirm current state availability with the lender.
| Lender | Products | Property types | Typical timeline | Experience |
|---|---|---|---|---|
| Kiavi | Flip, bridge, DSCR, new construction | SFR, small multifamily | Fast | New and experienced |
| Lima One | Flip, flip-to-rent, bridge, DSCR, construction | SFR, multifamily | Moderate | Prior exit often expected |
| RCN Capital | Flip, bridge, DSCR, new construction | 1–4 unit, multifamily | Moderate | All levels; tiers reward record |
| Easy Street | Flip, DSCR, bridge, new construction | SFR, small multifamily | Very fast | New and experienced |
| Groundfloor | Renovation bridge, new construction, DSCR | 1–4 unit residential | Moderate (draw-based) | Beginner-friendly |
Frequently Asked Questions
How do I choose a hard money lender?
Match the lender to your deal, not the other way around. Check four things before anything else: whether they lend in your state and property type, whether they fund your specific product (fix-and-flip, bridge, DSCR, or new construction), their experience requirements — some expect a prior completed deal — and how their draw schedule works if the property needs renovation. Only after those fit should you compare cost, because a cheaper lender that will not fund your deal or your market is no help.
What is the difference between a hard money lender and a DSCR lender?
A hard money lender makes short-term, asset-based loans for acquisition and renovation, underwritten primarily on the property and its after-repair value. A DSCR lender makes long-term loans qualified on the property’s rental income (its debt-service coverage ratio) rather than your tax returns. Many investors use hard money to buy and renovate, then refinance into a DSCR loan to hold the property long term.
What happens when my hard money loan matures?
At the maturity date the full balance comes due as a balloon payment. If it is not paid, the loan goes into default and default-rate interest begins accruing, and the lender can start the foreclosure process. Most investors avoid this by refinancing into permanent financing or selling before maturity — ideally starting the exit at least 90 days ahead.
Do hard money lenders work with first-time investors?
Some do and some do not. Deal-focused lenders like Groundfloor are explicitly beginner-friendly, while lenders such as Lima One reference a prior completed deal in their standard underwriting, which can mean tighter terms for a true first-timer. If you have no track record, prioritize lenders that underwrite the deal and the contractor budget rather than your experience.
Which lender is best for refinancing out of a hard money loan?
The lenders above are strongest at originating hard money loans. Getting out of one — before the balloon matures — is a different specialty. That exit refinance, into a DSCR or conventional loan, is what the Cook Brothers Mortgage Team at Cornerstone First Mortgage focuses on, so an exit is planned before the maturity deadline instead of after it.
Figures are typical market ranges, vary by lender and scenario, and are subject to change.