Hard money and bridge
Hard money and bridge loans
A hard money loan is a short-term, interest-only loan from a private lender, secured by real estate and underwritten mainly on the value of the asset and the borrower's exit plan rather than on the borrower's credit or income, which is why it can close faster than bank or agency debt.
Key facts
Figures as of 2026-10-31. Program rules change by notice, so an advisor confirms current terms with lenders before you rely on any figure.
| Item | Figure | Source and date |
|---|---|---|
| Interest rate | 9.5%–12.5% | Corin estimate, varies by lender; as of 2026-10-31 |
| Origination points | 1–4 points | Corin estimate, varies by lender; as of 2026-10-31 |
| Leverage: fix-and-flip | 65%–75% of as-is value or after-repair value (LTARV) | Corin estimate, varies by lender; as of 2026-10-31 |
| Leverage: stabilized bridge | up to 80%–85% of value on a stabilized property | Corin estimate, varies by lender; as of 2026-10-31 |
| Term | 6–36 months, interest-only | Corin estimate, varies by lender; as of 2026-10-31 |
| Extension fee | 0.5%–2% per extension | Corin estimate, varies by lender; as of 2026-10-31 |
| Minimum interest | 3–6 months of interest | Corin estimate, varies by lender; as of 2026-10-31 |
| Exit fee | 0.5%–1% | Corin estimate, varies by lender; as of 2026-10-31 |
| Default rate | up to 24% | Corin estimate, varies by lender; as of 2026-10-31 |
When hard money makes sense
Hard money is a tool for speed and for deals that conventional lenders will not touch yet: an auction or short-fuse purchase, a property with a heavy rehab, a borrower between tax years, or a bridge to a refinance. It is more expensive than bank or agency debt, so the plan has to justify the cost.
Private lenders fund at closing as lender of record and make their own credit decisions. Corin arranges the loan as a licensed broker; it never funds loans, holds borrower money or services loans.
- Purchase on a short timeline
- Heavy rehabilitation with an after-repair value plan
- Bridge to a permanent loan once the property is stabilized
- Situations where income documentation is hard to produce
Read the whole cost
The rate is only part of the cost. Points at closing, minimum interest, extension fees and exit fees can add materially to the total, and a default rate applies if the loan matures unpaid. We show the all-in cost, including these items, before you decide.
Timing
Private bridge and hard money loans often close faster than bank or agency loans: many close in 10–21 days. Timelines are typical ranges after a complete file and are subject to lender approval, appraisal, title, and diligence. They are not guaranteed.
Programs we arrange
Frequently asked questions
How much does a hard money loan cost?
Typical ranges are an interest rate of 9.5%–12.5% and 1–4 points, plus extension, minimum-interest and exit fees. Actual terms vary by lender, asset and borrower.
How is hard money different from a bridge loan?
They overlap. Hard money usually means a smaller, faster, more asset-focused private loan, while institutional bridge loans come from debt funds with lower pricing and more documentation.
Are hard money loans exempt from California interest-rate limits?
Whether any particular loan falls within an exemption depends on the lender, the collateral and how the loan is arranged. Corin does not advise on that; ask your own counsel.
Who funds a hard money loan Corin arranges?
Private lenders fund at closing as lender of record and make their own credit decisions. Corin arranges the loan as a licensed broker; it never funds loans, holds borrower money or services loans.
Related programs
- Multifamily bridgeFloating, interest-only debt for value-add apartment business plans.
- DSCR investor loansRental property loans underwritten on the property's debt service coverage.
- Bridge-to-HUDShort-term floating debt to stabilize a facility before a HUD 232/223(f) takeout.
- Construction loansGround-up and heavy-renovation financing from banks, debt funds and private lenders.
- Construction financingBank, debt fund, HUD and C-PACE options for construction projects.
Talk through your deal with an advisor
Send the basics and a licensed Corin advisor reviews which programs and lenders may fit, or size the loan yourself first.