Pimlico Capital is a Premier Private Lender of Hard Money Loans in the Mid-Atlantic Region

Rates Starting at 7.95%

hard money loans

We’re a direct lender (not a broker) and a leading provider of hard money loans in all 50 states

Our focus has always been about building long-term relationships. Start the process by getting pre-approved.

No Hidden Fees

$100
Consultation Fees
$50
Application Fees
$250
Appraisal Fees
$30
Admin Fees
$100
Processing Fees

RELIABLE

Simply put, we do what we say we are going to do

We understand how important it is to have a lender you can trust, whether it be delivering at the closing table or funding draws promptly. Pimlico Capital, having never missed a closing, is in it for your success!

STREAMLINED

Our process could not be easier

Each stage of the process has been streamlined to fund your loan quickly and easily. That’s why no other lender can fund a deal as quickly as Pimlico Capital can.

RATES

Hard money doesn’t mean expensive

Other “lenders” are just brokers in disguise, just taking a cut out of the profit. We have our own direct pool of private equity, which means we offer the lowest rates out there.

TRANSPARENT

We operate differently

How many times have you showed up to closing to find outrageous undisclosed “extra” lender fees on the HUD? We operate differently. Pimlico Capital believes in an honest partnership, with the cost of capital clear and upfront. 

Our Services

At Pimlico Capital we have a few loan programs to get you started:

FIX & FLIP

RENTALS

BRIDGE LOANS

COMMERCIAL

Testimonials

FAQs

How do I submit my loan application?

It’s easy. After filling in our online loan application, just click on the “submit” button at the bottom of the page, and we’ve received it! If you have any questions, you can email us at , or call us at (410)-855-4600.

Will you roll third-party closing costs into the loan?

No, you will need to have cash available for 3rd party closing costs (title insurance, closing fees, etc.).

What is the difference between the pre-approval and the term-sheet?

For a pre-approval, we will perform a high-level evaluation of your financial estimates for the project (purchase/acquisition cost, rehab budget, after repair value), and your level of experience. If we believe there is a reasonable likelihood that we would make a loan based on the information provided, we will inform you that you are pre-approved. A pre-approval is not a guarantee that the loan will be approved or made.

For a term-sheet you provide more details regarding the project and your experience. We more carefully review the borrowers and project. We evaluate the current and after repair value of the property and closely review the expected repair/rehab costs. Prior to making a decision on a loan commitment, we typically do a property walk through with one of the borrowers.

What happens after I submit my loan application?

After we receive your hard money loan application, it will immediately go into processing. We will contact you via phone or email to discuss the remaining loan process and answer any questions you may have.

Can I use seller financing in conjunction with a Pimlico loan?

As a hard money lender, we will only make loans as the first lien holder on a property. In certain situations, we will allow for a second lien on the property resulting from seller financing. Many investors will utilize these funds for 3rd party closing costs (title insurance, closing fees), holding costs (insurance, taxes, utilities), property maintenance and cleaning expenses, staging expenses, cost overruns, other expected or unexpected expenses and rehab labor and material expenses (until you receive rehab draws, if you have a rehab draw account).

Am I charged interest on the rehab funds before I draw them?

If the hard money loan includes funds borrowed from us held in a rehab account, then such funds are part of the loan and interest is charged to the borrowers from the date of origination of the loan. This is because as soon as we originate your loan we set aside the full amount of your rehab budget in an account ready for disbursement. When the money is in the rehab account we cannot loan this money to any other borrowers.

What type of insurance do I have to carry?

At closing, we will require a one year, paid in advance, Builders’ Risk certificate of insurance with a vacancy clause. Also, flood insurance may be required depending upon the location of the property.

Why are your rates lower than the standard 4 point and 13% interest?
  • We only work with experienced real estate investors, which lowers our risk.
  • We are working with one source for funds, so we are the final decision makers and do not need to consult with or comply with anyone else in making our lending decisions, restrictions and rules. We don’t have to promise outside investors higher rates of return.
  • We have low overhead.
  • We don’t use or charge for third party appraisals.
  • We underwrite in-house and don’t need to spend resources communicating back and forth with other parties.
What is your method of transferring money for rehab draws?

We typically disburse funds by ACH transfer or wire. However, we can also bring a check with us to the construction inspection and provide funds immediately.

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Loans are subject to additional underwriting criteria.