How Long Does It Take to Get a Hard Money Loan?

Quick Answer

Hard money loans are among the fastest financing options in real estate, typically closing in 5–15 business days. Unlike conventional mortgages that take 30–45 days, hard money lenders focus primarily on the property's value rather than the borrower's credit history, which streamlines underwriting significantly.

Hard Money Loan Timeline

Stage	Time Frame	Details
Application and initial review	Day 1–2	Submit property details, purchase contract, and borrower information
Property valuation/appraisal	Day 2–5	Lender orders a BPO, drive-by appraisal, or internal valuation
Underwriting	Day 3–7	Lender evaluates deal structure, LTV ratio, and exit strategy
Title search and insurance	Day 5–10	Title company verifies clear title and issues commitment
Document preparation	Day 7–12	Loan documents are drafted and reviewed
Closing and funding	Day 10–15	Documents signed, funds disbursed

Hard Money vs. Conventional Loan Speed

Factor	Hard Money Loan	Conventional Mortgage
Typical closing time	5–15 days	30–45 days
Appraisal type	BPO or internal valuation	Full appraisal required
Income verification	Minimal or none	Extensive documentation
Credit score requirement	550+ (flexible)	620–740+
Decision based on	Property value and equity	Borrower creditworthiness
Down payment	20–40%	3–20%

Factors That Affect Closing Speed

Property Type

Single-family residential properties close fastest because valuations are straightforward. Commercial properties, raw land, and multi-family buildings require more due diligence and may extend the timeline to 2–3 weeks.

Borrower Preparedness

Having all documents ready at application — including the purchase contract, property photos, renovation budget (for fix-and-flip loans), and proof of funds for the down payment — can shave 2–5 days off the process.

Title Issues

Title searches occasionally uncover liens, judgments, or ownership disputes that must be resolved before closing. Clean titles close on schedule; problematic titles can add 1–3 weeks.

Lender Type

Private individual lenders can sometimes close in 1–3 days for repeat borrowers with established relationships. Larger hard money lending companies typically take 7–14 days due to internal compliance processes.

Lender Comparison

Lender Type	Typical Closing Time	Loan Amount Range	Interest Rate Range
Private individual lender	1–5 days	$50K – $2M	10–15%
Regional hard money company	5–10 days	$75K – $5M	9–13%
National hard money lender	7–15 days	$100K – $25M+	8–12%
Online/fintech hard money	5–12 days	$75K – $10M	9–14%

How to Get Funded Faster

• Pre-qualify before finding a deal — establish a relationship with a lender so they know your track record and financial capacity.
• Provide a clear exit strategy — lenders fund faster when they see a concrete plan (sell after rehab, refinance into conventional, etc.).
• Use the lender's preferred title company — this eliminates coordination delays between parties.
• Have your down payment liquid — proof of funds in a bank account, not locked in other investments.
• Order the appraisal early — ask the lender to begin the property valuation on day one.

Typical Hard Money Loan Terms

Term	Typical Range
Loan term	6–24 months
Interest rate	8–15%
Points (origination fee)	1–4 points
LTV ratio	60–75% of property value
Prepayment penalty	Usually none