What You Need to Qualify

Hard Money Loan Requirements

Hard money loans (also called bridge loans or fix-and-flip loans) qualify on the property's value — not your personal income or tax returns. This page walks through every requirement Pimlico Capital uses to underwrite a hard money loan, plus the documents you'll need.

Get a hard money quote Call (410) 855-4600
Construction site with rehab in progress
Hard Money
660Minimum FICO score
90% / 100%LTC purchase / rehab funding
70% ARVMaximum loan vs. after-repair value

Credit score (FICO)

Minimum 660 FICO. Higher credit (700+) typically unlocks better pricing.

We pull a soft inquiry during pre-qualification and a hard pull only at full submission.

Recent late payments, collections, or thin credit files don't automatically disqualify — we look at the full picture.

No bankruptcy in the last 4 years; no foreclosure in the last 3 years.

Experience and track record

First-time fix-and-flippers welcome. We don't require prior flip experience to qualify, though pricing is typically tighter for experienced investors with a track record.

Experienced investors (3+ completed flips) can access higher LTC and LTV tiers and faster underwriting.

We score experience based on completed projects in the last 36 months — we'll ask for addresses and exits during underwriting.

LTV, LTC, and ARV limits

Up to 90% LTC (loan-to-cost) on the purchase.

Up to 100% of the approved rehab budget, funded through a draw schedule.

Combined LTV (purchase + rehab) capped at 70% of the after-repair value (ARV). ARV explainer →

Higher LTC tiers available for experienced investors with strong track records.

Property types we fund

Single-family flips and 2–4 unit small multifamily.

Condos (with conforming HOA financials).

Townhouses and row homes (we routinely fund Baltimore, Philadelphia, and DC rowhouses).

BRRRR strategies (we finance the bridge, then refinance into a 30-year DSCR).

We don't fund: owner-occupied properties, raw land, mobile homes, or ground-up new construction (we offer construction loans separately).

Draw process and rehab funding

Rehab funds are held in escrow and released in draws as work is completed.

Typical projects have 3–6 draws over the rehab period. We dispatch a local inspector to verify completion before releasing each draw.

Draw turnaround: typically 48–72 hours from inspection request to wire.

Full draw process walkthrough →

Entity and titling requirements

Most hard money loans close in an LLC, S-corp, or trust. Personal-name closings allowed.

Foreign-national borrowers can close through a US LLC.

Personal guarantee from each guarantor; we underwrite the guarantors' credit and overall investor experience.

The Differentiator

What we DON'T require

What most lenders ask for that we don't — these are the things that make our process faster than a conventional shop.

No personal income verification. No W-2s, no pay stubs, no employment letters.
No personal tax returns. The property's value and your investor profile qualify the loan.
No DTI calculation. Your other personal debts don't factor into approval.
No prior flip experience required for entry-level deal sizes.
No prepayment penalty. Pay off early without a fee — ideal for investors who finish and sell ahead of schedule.
Checklist

Documents you'll need

A typical complete file looks like this.

Government-issued photo ID for each borrower / guarantor
LLC operating agreement and EIN (if closing in an entity)
Purchase contract and property address
Itemized rehab budget (with contingency)
Photos of the property (interior + exterior)
Comparable sales (ARV justification) — we pull these too, but a starting list helps
Two most recent personal bank statements (for closing-cost verification only)

Common Questions

Do you fund first-time flippers?
Yes. We fund investors with no prior flip experience. Pricing is tighter for experienced investors, but the loan can still close on entry-level deal sizes.
What's the minimum credit score?
660 FICO. Higher credit unlocks better pricing. Recent late payments or collections don't automatically disqualify — we look at the full picture.
How much rehab funding do you provide?
Up to 100% of the approved rehab budget, funded through a draw schedule as work is completed. We hold rehab funds in escrow and dispatch local inspectors to verify each draw.
What's the LTV cap based on ARV?
70% of ARV (after-repair value) for the combined purchase + rehab loan. That's the most we'll lend against the projected post-rehab value.
How fast can you close?
We've closed hard money loans in as little as 5 business days for experienced investors with a complete file. Typical timeline is 7–10 business days.
Is there a prepayment penalty?
No prepayment penalty on standard hard money loans. Pay off early when you sell or refinance without a fee.
Do you fund construction or new builds?
Hard money loans are for existing structures requiring rehab. For ground-up new construction, see our Construction Budget & Draws page.
Can I refinance a hard money loan into a long-term rental loan?
Yes. Once the property is rehabbed, leased, and stabilized, you can refinance into a 30-year DSCR rental loan. We fund both sides of the BRRRR pipeline.
How It Works

From first call to funded.

1

Submit the deal

Get a quote online or call us. We'll size the deal in 24 hours.

2

Underwriting

Our in-house team underwrites the file — not an algorithm or a remote committee.

3

Close & fund

5–10 business days for bridge, 3–4 weeks for 30-year rental.

Investor Education

From the Blog

Investor playbooks and explainers from our team. See the full library on our blog.

Ready to talk about your deal?

Get a quote in 24 hours or call us right now.

Get a hard money quote Call (410) 855-4600
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