This guide reviews five top-rated hard money lenders in Connecticut. We begin with ourselves, Constitution Lending, then look at RCN, BridgeWell, and more.
When looking for a hard money lender in Connecticut, we believe these are the three most important criteria to evaluate them against:
This article discusses the top five hard money lenders in Connecticut. We start by covering Constitution Lending’s loan options for real estate investors and how we close loans quickly and reliably.
Use our loan pricer to price out loan scenarios and generate a quote immediately.
Constitution Lending is a Connecticut-based hard money lender that specializes in quickly financing real estate deals.
We founded Constitution Lending because, when we were flipping properties, we got tired of dealing with bad lenders who couldn’t close deals quickly and without drama or last-minute delays.
We aimed to fix this when creating Constitution Lending by closing loans quickly and giving borrowers a clear answer regarding their eligibility before underwriting.
Instead of filling out a contact form and waiting for a loan officer to reach out, we speed up the application process using our loan pricer.
This loan pricer lets you generate a quote within seconds. Simply enter a few details, such as where the property you’re looking to buy or refinance is located, what type of property it is, and the current and after-repair value. We then present you with three loan options.
You can choose the option you prefer, enter your contact details, and we’ll immediately send you a pre-approval letter and term sheet.
At the same time, we provide you with access to our documents portal. You can submit all the required documents through this portal, including entity documents, scope of work, proof of insurance, and bank statements.
The process from application to funding can take as little as seven days. However, if you have all the documents ready and want to close quickly, we can fund your loan within four days.
As we mentioned above, a problem we faced when investing in real estate is that many of our loans would fall through right before closing. This led to us losing out on countless investment opportunities.
So, when we created Constitution Lending, we aimed to give borrowers a definitive answer on whether they can qualify as soon as they submit their documents and before we begin underwriting.
If you’re approved at this stage, your loan application should go smoothly. Alternatively, if you don’t qualify, we’ll notify you when you submit your documents and explain why.
We can do this because we’re a direct lender. We’re lending you our money, so we create our own lending requirements and deeply understand what criteria a borrower has to meet to qualify. We don’t have to start underwriting before identifying discrepancies.
Brokers, on the other hand, simply connect you with other lenders. They have to adhere to someone else’s requirements, and in many cases, they don’t even know what these requirements are.
This means they won’t know if you qualify by just looking at your documents. They have to ask the lender to start underwriting, and then they can only get back to you with a yes or no. This is what leads to last-minute rejections.
If you’re looking for a quick hard money loan to purchase or refinance a property, use our loan pricer to generate a quote within seconds.
Founded in 2010, RCN Capital is a lender that provides Connecticut hard money loans to purchase investment properties.
These loan products include fix and flip loans, bridge loans, construction loans, short-term rental loans for Airbnb properties, 30-year DSCR loans, and real estate-backed lines of credit.
These are the loan requirements you have to meet to qualify for a loan with RCN, as well as some additional information:
To apply for a hard money loan with RCN, you must first create a borrower’s account on their website and fill in their application form.
Here, they ask you questions like what type of loan you’re looking for, how much money you need to borrow, where the property is located, its current market value, and its estimated after-repair value. Once you complete the loan application form, RCN sends one of their loan officers to contact you and continue the application process.
Although RCN doesn’t give a specific time frame in which they usually finance loans, their website says that it’s faster than traditional banks.
Bridgewell Capital is a Connecticut-based hard money lender that offers financing solutions for residential, non-owner-occupied rental properties. Since its founding in 2008, it has financed a combined total of over $500 million worth of residential real estate.
In addition to fix-and-flip and bridge loans, BridgeWell provides investors with DSCR loans, short-term rental loans, fix-to-rent loans, commercial property loans, and cash-out refinance options.
These are BridgeWell’s lending criteria and loan options:
To fund real estate projects with BridgeWell, you can get pre-qualified by completing a questionnaire on their website. This questionnaire will ask you questions like what loan product you’re looking for, the purchase price of the property, your credit score, and what real estate investing experience you have.
Then, a loan officer will contact you within three days and provide a term sheet before asking you to submit documents like your scope of work, credit report, and bank statements.
BridgeWell’s website says they can provide borrowers with a pre-approval letter within three days and loan financing within 10 days.
Stratton Equities is a private money lender headquartered in Connecticut. It specializes in lending to self-employed individuals who don’t qualify for traditional funding at larger banks. It offers a variety of loan products, including fix-and-flip loans, bridge loans, blanket loans, and DSCR loans.
This is what you need to know about Stratton Equities’ mortgage loans, terms, and requirements:
There are two ways to apply for a private money loan with Stratton Equities. You can either call to speak with a loan officer directly, or you can complete one of the application forms on their website, enter a few details on what loan you’re applying for and the property you’re looking to purchase, and a loan officer will call you.
According to Stratton Equities’ website, they can close within three weeks without borrowers submitting tax returns or proof of employment.
New Silver Lending is a hard money lender that offers reliable in-house real estate loans. Although New Silver isn’t based in Connecticut, its loan programs are available to Connecticut real estate investors. These include fix and flip loans, bridge loans, new construction loans, and 30-year DSCR loans.
Here’s everything you need to know about New Silver’s hard money lending options as well as requirements for borrowers:
You have to create an account and complete a questionnaire on New Silver’s website in order to begin the loan process.
A loan originator will hop on a call with you within a few business days to learn more about your financing needs. If you’re pre-approved, they’ll require you to submit documents before ordering the appraisal and getting back to you with a final decision.
New Silver doesn’t publicly say how fast they can fund loans, but they offer quick term sheets and pre-approval letters.
At Constitution Lending, we specialize in quickly financing real estate deals. As a direct lender, we have a deep understanding of the criteria borrowers must meet to qualify for a hard money loan.
You can use our loan pricer to get an instant quote and see what loan options you qualify for. We’ll then send you a term sheet and pre-approval letter within 24 hours.
| Qualification | Requirement |
|---|---|
| Minimum and maximum loan amount | $150,000 to $3,000,000 |
| Type of property | Non-owner occupied single-family, multi-family, and 5-8 unit properties |