Hard money loans are designed for speed. Whether you’re flipping a distressed property or securing a competitive contract, closing quickly can make or break your deal. Most delays come from the borrower—not the lender. This guide shows you how to close a hard money loan in the fastest, cleanest way possible.
1. Get Pre-Qualified Before Shopping
Pre-qualification gives you:
- Your maximum loan amount
- Down payment requirements
- Rehab expectations
- Rate estimates
This prevents last-minute surprises and accelerates approval.
2. Prepare Your Borrower Packet Early
A strong borrower packet includes:
- Government ID
- Bank statements
- LLC documents
- Experience Sheet
- Proof of funds
- Insurance agent contact
Having these ready allows you to submit immediately.
3. Submit a Complete Deal Package
Hard money lenders need the full picture:
- Signed purchase contract
- Itemized rehab budget
- Contractor bids
- Comps supporting ARV
- Property photos
- Exit strategy
The clearer the plan, the faster the approval.
4. Order the Appraisal Immediately
Appraisals and BPOs are the #1 bottleneck.
Order early.
Provide access quickly.
Stay in communication with the appraiser.
5. Respond to Underwriting Quickly
Speed matters.
Underwriters process files in sequence.
Same-day responses move your file to the top of the line.
6. Secure Insurance Before Closing
Hard money loans require hazard insurance naming the lender as mortgagee.
Setting this up early avoids last-minute delays.
7. Fund Your Down Payment Early
Lenders cannot release funds until your wire hits escrow.
Send your down payment early on closing day to avoid cut-off issues.
Final Thoughts
Hard money loans are the fastest loans in the real estate industry—but only when borrowers are prepared. With clean documents, clear numbers, and fast communication, you can close in days and beat out slower investors. Speed is a competitive advantage—use it.
CONTACT;:WhatsApp: +1 448-230-7488 &phone no : +1-201-680-0991
Email: annie@insightflending.com
