Hard Money Loan Guide

Download Noble Mortgage’s free guide to learn more about what a hard money loan is, when to use a hard money loan, and why they’re beneficial in your real estate investing strategy. We have also included a visual breakdown of how a hard money loan works.

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Hard Money Loan FAQs

What is a hard money loan?

A hard money loan is a short-term asset-based real estate loan that is primarily used to purchase real estate by investors who are either looking for a quick or simpler underwriting process or do not qualify for traditional loans.

Who should apply for a hard money loan?

Hard money loans are an attractive option for borrowers who meet the following criteria:

Investors looking for quick funding or high leverage loans (up to 100% financing).
Builders
Borrowers who do not meet minimum credit score, income, or past bankruptcy/foreclosure.

How does the hard money loan program work?

Noble’s hard money loan program was designed for investors who are purchasing homes that are in disrepair and want to leverage the After-Repaired-Value (ARV) of the property. We loan real estate investors money to purchase and rehab real estate property in Texas. We typically close in 7-10 business days; however, we have closed a loan in 24 hours previously! Hard Money is available for both residential and commercial property in the first lien position.

What's the difference between a hard money loan and a traditional loan?

Hard money loans do not require the same documentation, credit score or downpayment requirements of a traditional loan. We are a private lender and therefore make all lending decisions in-house!

What is required to qualify for a hard money loan?

It depends on what the exit strategy is for the loan. Flipping a home simply requires some capital reserves to handle loan payments and money to get the project started.

We do not have a minimum credit score if you are flipping.

However, if the investor intends on refinancing the property to hold as a rental property, then they would need to qualify for long-term financing which Noble can arrange in-house. These loans typically require at least a 650 credit score.

What is ARV?

ARV, or after repair value, represents the current value plus the value added by any repairs or renovations. Read our blog post to learn more about ARV and how it’s determined.

Customer Testimonials

      
   Noble Mortgage & Investments
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   Jay Prasad 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have worked with many mortgage companies before, but to this day Noble Mortgage has by far been one of the best. Their customer service, knowledge of the industry, communication, and professionalism, has been excellent. Daryl and Jesse have been a pleasure to work with on our flip house project and we will definitely be working with again very soon on our next flip. I was a little nervous about doing a hard money loan, but these guys made it simple and their rates were good as well. I look forward to working with them on all our flips moving forward. Thanks again guys!
  
 
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   Bessy J 
 
 
 
 Trustindex verifies that the original source of the review is Google. What an amazing team! I'm so thankful to Chris ( Robichaux)  and Alex( Alessandro Coria) for helping me out. They were so kind and gracious. They helped me every step of the way and answered all my questions. They were available whenever I called. Amber was great too. She was so polite and courteous.
  
 
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   Alirio Parra 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great event, very insightful..Wonderfull Team. Thank you.
  
 
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   Sarahy Montoya 
 
 
 
 Trustindex verifies that the original source of the review is Google. There are no words to  thank God for having put such good people in our path. People who are willing to help you and answer any doubt we may have had during our process to obtain our first Hard Money Loan.  At Noble Mortgage you find  those people.. People who are willing to help you with all their heart. Mr. Jesse Coria is an angel, a person who shows humility and always showing desire to help his clients. Many thanks to Noble Mortgage and its team, especially to Mr Jesse Coria for making our first dream possible. God May Bless Everyone.
  
 
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   Jared Solis 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great experience. Loan officer Chris Moore is very quick and helpful! Very good communication to make the process a lot easier.
  
 
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   Michelle Czaja 
 
 
 
 Trustindex verifies that the original source of the review is Google. When it comes to real estate, it’s important to have people beside you, who are TRULY there for you. Noble Mortgage is the definition of this important step, when delving into real estate. We were able to secure a Hard Money Loan with Noble, and the process from start to finish was extremely satisfying. We worked beside Jesse Coria, a Sr. Loan Originator, and his customer service is more than exceptional. He was very thorough, answered all of our questions without hesitation, and was consistently reminding us, that questions are good! This entire process was new to us, my partner and I, are incredibly blessed to have come across Jesse and the Noble Mortgage team. A company with extreme emphasis on Customer Service, checked all of our boxes. I highly recommend Noble Mortgage to those looking to secure a Hard Money Loan, or just any mortgage related services in general. Noble Mortgage takes deep pride in their service, respects its customers, and continues to build their brand to ensure more awareness is secured. This review and all other reviews should speak volume to you, when making your decision to work with Noble. Thank you to Jesse and the Noble Mortgage team for making our “dream” a reality.
  
 
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   Leonardo Coronel 
 
 
 
 Trustindex verifies that the original source of the review is Google. I've had a great experience with Noble. This is my first time doing business with this company. Big thank to our loan officer Silas Daik, very pleasent experience. Works quickly with great communication.
  
 
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   sadai morejon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great customer service, Chris Robichaux is very helpful and knowledgeable. So glad to work with him as a team.
  
 
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   Ryan Fitzpatrick 
 
 
 
 Trustindex verifies that the original source of the review is Google. Chris and Silas Daik were a great help in this loan process
  
 
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   Ricardo Marquez 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great communication with the team, 4 hard money loans 3 refinance loans completed and many more to come. Alessandro always on top of everything and always has the right answers.