A hard money loan refers to a loan that is secured by a tangible or “hard” asset (i.e. real estate). They are most commonly used to acquire and repair distressed properties in order to either sell them for a profit or keep them as a rental property. Real estate investors regularly use hard money loans to leverage their own capital and flip a greater number of properties.
A hard money lender is an individual or company that provides short-term, asset-based loans secured by investment properties. These loans are typically used by real estate investors and developers who need fast, flexible financing to purchase, renovate, or refinance a property.
Here’s how a typical deal goes:
For more info, check out the How Hard Money Loans Work Infographic!
Securing a hard money loan is relatively simple – it starts with a potential investment property. Once you have selected a property that you would like to purchase, rehab, and sell for profit, contact a lender and supply them with the following:
The lender will underwrite the property deal, meaning they will confirm the ARV or Monthly Rent using comps, analyze the numbers, and evaluate your unique situation as a borrower. If the deal makes sense they will then provide you with a loan breakdown including your down payment, interest rates, and terms. After construction is complete, you can choose to sell the property or refinance and hold onto it.
“Points” are percentage-based fees paid upfront at closing, usually ranging from 2-5% of the loan amount. These fees are part of your overall loan costs and can vary depending on your experience, the type of deal, and market conditions.
Just contact our sales team with a specific property in mind. Once we have the details, we’ll send you a signed letter on WCP letterhead that you can include with your offer.
All we need is the property address, offer/contract price, estimated renovation costs, and ARV (After Repair Value). With this information, we can underwrite the deal and can provide you with a loan breakdown, with rates, and an estimated cash to close.
No, WCP does not offer mortgages on primary residences. We finance investment properties via commercial loans.
Yes, we typically require a down payment that fits into our financing metrics. The exact amount depends on the deal and your financial profile.
No, WCP lends only to business entities (LLC’s, C Corps, etc.). Registering a business entity is easier than many think, and the process can often be started online through your state government.
Yes! With our Rewards Program, you automatically earn points on every loan you close. Points can be used toward fees on your next loan and are available as soon as your deal closes.
We prefer a credit score of 680+, but a lower score won’t necessarily disqualify you. It may just impact your rate or down payment.
Yes, we will perform a credit check after receiving a loan application that includes your signed authorization to pull credit.
Getting started is easy, you can submit a quick online application, call us at (703) 348-0549, or email us at info@wcp.team to speak with our team of lending experts today!
We can provide a Proof of Funds letter in as little as 30 minutes once we have all the information.
We can close within 48 hours after the property title is clear and all documents have been received.
We typically send funds via ACH, since there are no associated fees. Bank wires are also available upon request.
LTC stands for “Loan to Cost” and is a lending metric based off of the total project cost (purchase price + construction costs) of a property.
LTV stands for “Loan to Value” and is a lending metric based off of the ARV of a property.
You’ll need personal, entity, and property-specific documents, depending on whether you’re applying for a bridge or rental loan.
Yes, both insurance and an appraisal will be required for every loan originated.
If your loan includes construction draws, you’ll need a builder’s risk policy—typically covering the full loan amount. For refinances with no planned renovations, a standard homeowner’s policy may do. All properties also require a general liability policy.
Yes, we need every member of the entity to be part of the loan, and we will need documents from each one of them.
No, there is no limit as long as none of your loans are delinquent or in default.
Yes—extensions are reviewed case-by-case by our Investment Committee.
Because we’re not just lenders—we’re partners in your success. Here’s what sets us apart:
Our purpose is to make financial freedom accessible and achievable for all. We do that by equipping real estate investors with everything they need to succeed—transparent lending, expert guidance, and reliable, personalized support at every step.
We currently lend in:
New Jersey, Pennsylvania, Delaware, Washington DC, Maryland, Virginia, North Carolina, South Carolina, Georgia, Florida, and West Virginia.
We lend on both residential and commercial real estate, including:
Rates start as low as 8.0% for RTL, 5.5% for DSCR, depending on the deal, the property, and your investing experience. The best way to get an accurate rate? Give us a call at (703) 348-0549—we’ll give you a free underwriting and walk you through your options.
Most of our loans have a 12-month term, but we know one size doesn’t fit all. For larger or longer projects, we’ll work with you to customize the term so you’re not stuck paying unnecessary fees or chasing extensions. And if you’re investing in rentals, we also offer up to 30-year terms to give you the flexibility and stability you need
We use LTV (Loan to Value) and LTC (Loan to Cost) to determine loan amounts. Call us today to determine your leverage!
We accept:
We don’t accept credit cards.
We’ve been in the game since 2012—and growing ever since. With a team full of real estate pros and fellow investors, we’ve helped thousands of clients scale their portfolios and succeed in every kind of market.
We’re always looking for great people who want to make an impact. Think you’re a fit? Email your resume and cover letter to careers@wcp.team—we’d love to hear from you.
There is one pre-settlement fee (typically $1,100) that covers attorney fees and other associated underwriting costs. We refer to this as the “Commitment Fee.” Construction Draw Fees are $300 per request, which covers the property inspection. Our only other standard fee is a Payoff Fee of $50 per Payoff Request and $200 for an Expedited Payoff Request.
We don’t charge prepayment penalties on most of our loan products, including fix and flip, new construction, bridge, and multi-family renovation loans. You’re welcome to pay off your loan early without any fees. For rental loans like DSCR, options such as a 5/4/3/2/1 stepdown, 3/2/1 stepdown, 1-year prepay, or no prepay penalty are available—just ask your loan officer what works best for your situation.
To provide exceptional customer service, we provide our clients with the ability to use auto-debit. This provides peace of mind to our clients that they will never make a late payment.
For all loan payoff-related requests and inquiries, please call our Payoffs Team at 703-722-0774 or email servicing@wcp.team. Please keep in mind that each Payoff Request comes with a $50 fee, and Expedited Payoffs are $200.
We use LTV (Loan to Value) and LTC (Loan to Cost) to determine loan amounts. Call us today to determine your leverage!
We accept:
We don’t accept credit cards.
When your project is ready for a draw inspection, here’s what to do:
Draws are typically disbursed within 3–4 business days from the inspection report. You can speed things up by:
The draw fee covers the cost of the inspection as well as the wire fee associated with your draw disbursement. This amount, typically $300, is netted from your draw wire before being disbursed. Repeat WCP borrowers can also use Rewards Points to pay this draw fee, for more information please visit: Rewards Program
No—once your loan is originated, the approved budget is final and cannot be altered or redistributed. If your budget is over $150K, we recommend allocating 5-10% toward a contingency line for unexpected costs.
For more information, please refer to your Construction Draw Guidelines included with your WCP borrower documents.
We have the experience and team ready to be your partner. Contact us today and learn why real estate investors choose to work with WCP for all of their funding needs.
