6 Best Hard Money Lenders in New Hampshire

New Hampshire is a small state located on the Gulf of Maine in New England. It has less than 1.3 million people calling it home, but it has one of the highest per capita incomes in the country, and that’s due to its affluent lifestyle and proximity to New York and Massachusetts. Called the Granite State for its large amounts of granite formations and quarries in it, New Hampshire is also one of the most beautiful states for its expansive parks and ecosystems. Once noted for its industrial development, that’s since declined in favor of an economy that’s home to numerous financial organizations, tourism, education, and manufacturing. It’s also a big transportation state. Many people come to ski in the mountains, but many come to live and call this area home.

Living in New Hampshire means paying a significant amount of money for real estate. That is one of the key reasons many people here rent. The median purchase price of a home in New Hampshire is $395,000 according to the New Hampshire Realtors Association. That’s significantly higher than the national average. Part of the reason home prices have increased is due to the limited inventory on the market and the low interest rates in the area, which has impacted many regions of the US. Also notable, there’s limited new construction in some areas here, making it a bit harder to find the ideal home.

When it comes to homeownership, about 63.3 percent of people here own their home, and 36.7 percent rent, according to US Census Bureau information. That’s a significant percentage of rentals, due in part to the number of people who live here seasonally or rent as vacation properties. Moreso, 3.2 percent of rentals are vacant, which is a rather low number. That signals that there could be room for more rental properties in many areas of the state.

How hard money loans work in New Hampshire

To buy into the New Hampshire real estate market, many investors may wish to turn to hard money loans. These are asset-backed loans often used for harder to finance property types, including investment properties like fix and flip homes, rental income, vacation properties, bridge loans for ground-up construction, and commercial real estate development loans. These loans are secured by the lender, and as such, if the borrower fails to make payments on time as they originally agreed to, the lender can force the sale of the home to get back some of its investment.

Hard money lenders in New Hampshire are very specific professionals who are either members of a financial investment firm or individual private lenders who offer these loans to qualified borrowers. They do not follow, typically, the traditional requirements and rules of big banks and credit unions but instead set their own rules for borrowers. This often makes them an ideal option for those who may not be able to qualify for a traditional loan through a mortgage broker or conventional bank or when the desired property cannot meet those goals.

New Hampshire hard money loans are typically short term loans ranging from 1 year to up to 5 years in length. Most often, the property has been sold or refinanced within that timeframe, reducing the financial obligation of the borrower. Many of these loans are designed to provide borrowers with financing on high-risk commercial and residential properties. As a result, borrowers can expect to pay a significantly higher amount of money in interest rates and fees to obtain the funds. Because other lenders don’t offer loans, this can be a very big investment opportunity for borrowers and not one to pass up.

6 Top New Hampshire hard money lenders

If you’re ready to learn more about the best hard money lenders in New Hampshire, here are the top options we’ve found through our research.

1. New Silver

New Silver started in 2019 by Kirill Bensenoff and Alex Shvayetsky. They offer a variety of private money lending products like fix and flip, rental, ground up and personal loans.

We contacted New Silver Lending to learn more about their private lending business and here are some of the highlights:

• Origination fee from 1.875%
• Loan to cost up to 90%
• 100% construction financing available
• Loan to ARV up to 80%
• Terms are typically 24 months
• Loan amounts are from $100,000 to $5 million
• Minimum FICO score is 650
• No hard credit pull required

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

2. HouseMax Funding

HouseMax Funding is based out of Austin, Texas but has a national footprint when it comes to real estate industry lending. Started by Jeff Fetcher and Alex Morris, HouseMax provides asset-based loan financing to investors for real estate transactions.

We reached out to HouseMax to learn more about their hard money lending program and here is what we found:

• Minimum loan amount is $75,000
• Lends up to 75% of the after-repair value (APV)
• 1-3 points origination charge
• 3 months reserves required
• Direct lender that approves loans internally and funds using their own private capital.
• Lends in urban and suburban communities in all 50 states.
• Goal is to close loans in 10 days or less.
• Specializes in fix & flip loans, construction loans and rental loans
• Multi-family and commercial properties are ok

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

3. Stratton Equities

Stratton Equities is a nationwide direct hard money lender for real estate investors. Founded by Michael Mikhail in 2017, Stratton Equities has over five years of experience in the private lending market.

We reached out to Stratton Equities to get more information about their hard money lending program and here are some highlights:

• Loan amounts from $100,000 up to $5 million
• Investment properties only
• Single-Family, Condos, Townhomes, Multi-Family, Commercial, Mixed-Use, Office, Retail, Industrial and Warehouse are all ok
• Up to a 75% LTV
• Rates start at 7.25%
• Interest only payments
• Loan terms are 9-24 months
• Foreign nationals are eligible
• No prepayment penalty option is available

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

4. Easy Street Capital

East Street Capital is based in Austin, Texas but lends nationwide except in North and South Dakota. Founded by Stephen Hagerman in 2016, Easy Street Capital has over six years of experience in the real estate investing world.

We reached out to Easy Street Capital to learn more about their hard money loans and this is what we found:

• Interest rates range from 6.9% – 10.9%
• Points range from 2-3
• There is a $1495 document fee
• No minimum credit score required
• Down payments of at least 10% required
• Renovation financing ok
• Fix and Flip loans do not typically have prepayment penalties

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

5. LendSimpli

LendSimpli is a hard money lender based in Tampa, Florida. They can lend nationally in most states but may not be able to lend if the property is in a rural area. Founded by Brenden Crampton and Matthew Davies in 2018, they have nearly four years of experience in the private lending real estate investing market.

We reached out to LendSimpli to get more details about their bridge loan product and this is what we found:

• Loan amounts up to $5 million for 1-4 unit properties
• Loan amounts up to $20 million for 5+ unit properties
• Single family (1-4 units)
• Multifamily (5-20 units)
• No owner-occupied properties
• Loan terms 12-24 months
• Interest-only payments with rates starting at 8.50%
• Max LTC is 90% of project costs
• Minimum credit score is 660
• Prefer that you have at least two transactions in the past three years

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

6. EquityMax

EquityMax is based out of Florida and most of its business in the state but is able to lend throughout the United States. Founded by Brad Emmer in 1990, EquityMax has decades of experience as a hard money lender.

We reached out to EquityMax to learn more about their hard money loans and these are the key highlights that you need to know:

• Single Family Homes
• 1-4 Multi-Unit Properties
• Condos and Townhomes ok
• Commercial property and Industrial Warehouses OK
• Direct lender that has decision making over financing deals.
• Can originate loans to individuals, LLCs, corporations, land trusts and self-directed IRAs.
• No prepayment penalties
• No minimum credit score required

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

Pros/Cons of New Hampshire hard money loans

Like any financial obligation, lenders need to take into consideration all of the options available to them when borrowing. If a traditional loan with a low interest rate through a traditional lender is available, that could be the best option for the borrower. That’s because New Hampshire hard money loans typically have an interest rate between 8 and 15 percent and higher fees on the loan. That makes them more expensive.

Yet, there are a number of good things associated with these loans as well. The biggest of them is access to borrowing, which relieves borrowers of having to use their personal savings to purchase property for investment purposes. Most lenders set rules and eligibility requirements, including credit score requirements, experience with rental investments and ownership, as well as down payment rules. Yet, these may be more flexible than they are with banks that have more oversight into projects like this.

Another key benefit is that New Hampshire hard money lenders often use the after repair value of the home rather than basing their decision to lend on just the current value of the property. That’s a big deal because most of the fix and flip homes have a substantial amount of repair and upgrade work needed, and borrowers need to be able to secure a higher rate of borrowing.

Another benefit is that many times, hard money loans in New Hampshire can close faster than the typical loan. That makes it possible for investors to grab properties that may be outstanding investments while they are affordable. Without a doubt, these loans offer their benefits to the right borrowers, especially those looking for help with an investment property that they cannot secure a loan for through any other means.

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