How to get a hard money loan in Baltimore.

Baltimore is one of the most active fix-and-flip markets in the Mid-Atlantic — rowhomes in Canton and Federal Hill, rehabs in Hamilton and Belair-Edison, rentals across the county. If you're investing here, a hard money loan is usually how you move fast enough to win the deal. Here's how to get one.

What is a hard money loan, quickly

A hard money loan is a short-term loan secured by the property, from a private lender rather than a bank. Instead of underwriting mainly your income and credit, the lender underwrites the deal — the property's value, your equity, and your plan to repay. That's why investors use it: it closes in days, not weeks, and it can fund the rehab a bank won't. If you want the full primer, read how hard money loans work.

What a Baltimore lender looks at

• The property and the numbers. Purchase price, rehab budget, and after-repair value (ARV). We lend on the deal, so the deal has to make sense — see ARV, LTV & draws explained.
• Your equity in the deal. We can fund up to 100% of purchase and 100% of rehab on strong deals, up to 75% of ARV — but the equity cushion has to be there.
• Your exit. Selling (flip) or refinancing (rental). A clear, realistic exit is what gets a deal approved.
• You. Experience helps, but it isn't required — first-time investors are welcome. There's no hard credit minimum; we look at the whole picture.
• The neighborhood. Local knowledge matters. We've funded Baltimore investors since 2009 and know the blocks, the ARVs, the contractors, and the title companies — more on our Baltimore hard money page.

How fast can you close?

Often within a week — sometimes days — when the title work and lien sheet are ready. We're rarely the hold-up; title usually is. Same-day approvals are normal. See the full 4-step process.

What it costs

Hard money costs more than a bank loan because it's faster, funds rehab, and carries more risk. Pricing is an interest rate plus "points" (an upfront fee — one point equals 1% of the loan). Typical terms are 12-month, interest-only, with no prepayment penalty — you pay it off when the project is done. In a competitive Baltimore market, that speed and leverage is often what makes a deal profitable in the first place.

How to get approved — step by step

1. Line up your numbers: address, purchase price, rehab budget, and your ARV estimate with a few comps.
2. Submit the deal. A short one-page application, free, no obligation.
3. We evaluate it with you — honestly. If the numbers don't work, we'll tell you before you're in trouble.
4. Get approved, often the same day, straight from the decision-maker.
5. Close and fund — purchase plus the held rehab budget — in as little as a week.
6. Draw as you renovate (funded in 24–48 hours), then sell or refinance and pay off.

Common mistakes that kill Baltimore deals

• Overstating ARV. Use real, recent, nearby comps — not the top of the market.
• Underbudgeting rehab. Baltimore's older housing stock hides surprises. Pad your budget.
• No clear exit. Know whether you're flipping or holding before you buy.
• Waiting on the lender when you should be waiting on title. Get your title company moving early.