Hard Money Lenders

Frequently Asked Questions

How is hard money different from a bank?

Hard money lenders provide funding much faster, typically in a matter of days, not weeks or months. We also have fewer requirements. We are asset-based lenders that focus on collateral, while banks require strong collateral, cash flow, credit history and other financial statements.

Why should investors use hard money?

In our experience, even real estate investors with strong finances and access to bank financing choose hard money loans for many reasons. This includes situations that: require fast closing; require a cash offer; present a great investment opportunity but there is insufficient strength to get a bank loan; or a bank line of credit is not large enough. Hard Money Lenders can also get creative with their financing processes allowing real estate investors to tackle certain projects that banks would not normally fund.

Why use Richmond Rehab Funding over other hard money lenders?
We do not charge appraisal fees, application fees, inspection fees, or junk fees. Additionally, we do not charge any points nor do we have monthly interest payments. We are paid at the end just like you are! To help you get more deals, we provide pre-approval letters, proof of funds statements and we can close fast! We have experienced builders and rehabbers on our team who have been in your shoes. We can share our experiences to help you. We firmly believe in "win-win" scenarios. At the end of the day, you have to ask yourself, "Who can I do the most deals with and make the most money with over the course of the next year?" That answer is Richmond Rehab Funding.

Do you provide pre-approval and proof of funds?

Yes. We provide both a pre-approval letter and an up-to-date proof of funds statement to help you put more deals under contract!

How does Richmond Rehab Funding evaluate my deal?

We evaluate your deal just like you would. If the numbers make sense, then it's a deal we will fund. Additionally, we like to work with investors with experience and some working capital.

How quickly can you approve my loan?

We can have your loan approved in a matter of hours. In a world where time is a valuable commodity we guarantee that we will provide quick turn around.

How much will you loan on my deal?

We loan up to 65%* of the ARV (After Repair Value).

ex.) $100,000 purchase price + $35,000 estimated repairs = $135,000 needed for project.

$200,000 estimated ARV (After Repair Value). 65% of ARV = $130,000. So for a project that requires $135,000, we will loan $130,000.

* Will loan up to 70% of the ARV depending on the deal.

Do you have fees, points, or monthly payments?

We DO NOT charge any fees, up front points or monthly payments. We are paid at the end just like you are. Our interests are aligned together.

What kinds of deals do you fund?

We typically fund residential fix and flip properties, new construction, BRRRR properties, small commercial projects, land development, bridge loans and mezzanine financing. If you have a different type of deal that you would like us to finance, please give us a call to discuss your project.

For any other questions, feel free to give us a call at 804-304-1228.