Can I get a loan extension if I reach the end of my loan term?

Yes—extensions are reviewed case-by-case by our Investment Committee.

Is there a limit to the number of loans I can get?

No, there is no limit as long as none of your loans are delinquent or in default.

Does every member of my business entity need to be on the loan?

Yes, we need every member of the entity to be part of the loan, and we will need documents from each one of them.

Do I need insurance and an appraisal for every loan?

Yes, both insurance and an appraisal will be required for every loan originated.

What do I need to start the loan process?

To start, you will need an investment property address, an offer/purchase price, estimated renovation costs, and ARV (After Repair Value).

How do I start the process to obtain a hard money loan?

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!

What are points on a hard money loan?

“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.

How do I get a hard money loan?

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:

• Property Address
• Purchase Price
• Estimated Construction Costs
• After Repair Value (ARV) or Estimated Monthly Rent

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.

How does a hard money loan work?

Here’s how a typical deal goes:

1. You bring a potential investment property to the lender.
2. The lender underwrites the deal—reviewing the purchase price, construction budget, and ARV using comps.
3. If approved, you’ll receive loan terms including down payment, rates, and structure.
4. Once agreed, the lender issues a Proof of Funds or Lender Letter to help you get the property under contract.
5. After the property is under contract, the lender gathers closing documents.
6. When the title is clear and documents are complete, you close on the property.
7. During the loan, you make interest-only payments each month.
8. If construction draws are included, funds are released in stages based on work completed on the property.
9. Once the project is finished and sold or refinanced, you repay the loan.

For more info, check out the How Hard Money Loans Work Infographic!

What is a hard money lender?

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.