Hard Money Loan Programs for Real Estate Investors

Real estate investors lose deals every day waiting on banks. A conventional lender wants two years of tax returns, a debt-to-income ratio under 43%, and six to eight weeks to close — none of which fits a property under contract with a 10-day inspection window. Sab Tera Lending was built to solve that problem. We are a direct private hard money lender, which means we underwrite, fund, and service every loan ourselves — no institutional pipeline, no broker markup, no committee sitting between your deal and a decision.

Across our six loan programs — Fix and Flip, DSCR Rental, Bridge, Ground-Up Construction, Multifamily 5+, and Commercial Real Estate — the underwriting philosophy stays the same: we lend against the deal, not your paystub. That means no minimum credit score on any program, no income verification, and a same-day commitment letter once we've reviewed the property and your exit strategy. Every program below is available in all 20 states we serve, from New York and Long Island down through Florida and Texas, and across the Southeast, Midwest, and mid-Atlantic.

Below you'll find full rate and term breakdowns for each program, a side-by-side comparison against Lima One Capital, Kiavi, RCN Capital, Easy Street Capital, and LendingOne, real deal case studies from investors across our footprint, and answers to the 13 questions we hear most often from borrowers evaluating hard money financing for the first time.

Rates shown are starting rates for well-qualified borrowers and strong deals as of August 2026. Actual pricing depends on loan-to-value, property condition, exit strategy, and deal structure. Call (516) 336-9293 for a same-day quote on your specific deal.

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*Advertised close times vs. investor-reported actual close times can differ significantly at some lenders. Rate and credit data reflect publicly available lender information as of August 2026 and are subject to change; always confirm current terms directly with each lender. Sab Tera Lending rates are starting rates for well-qualified borrowers.

Two Programs, One BRRRR Strategy

BRRRR — Buy, Renovate, Rent, Refinance, Repeat — is the strategy most of our repeat borrowers use to scale a rental portfolio without running out of capital. It works because two of our six programs are built to hand off to each other. Our Fix and Flip loan (up to 90% LTV, from 9.5% interest-only) funds the acquisition and renovation. Once the property is rented and stabilized, our DSCR Rental loan (6.5% fixed, 30-year term, no income verification) becomes the permanent takeout — pulling equity back out to fund the next deal.

Because both loans qualify on the deal and the property rather than your personal income, an investor can run this cycle repeatedly without the debt-to-income ceiling that stops most investors at a bank after three or four financed properties. This is especially powerful in markets where purchase prices are lower relative to rents — Ohio, Indiana, Michigan, Pennsylvania, Kentucky, Tennessee, Louisiana, and Mississippi are where we see the strongest cash-on-cash returns using this model, though the strategy works in any of our 20 states.

Investors using our Bridge loan program can also insert it as a middle step — bridging a purchase that needs light work before it qualifies for either a flip exit or a DSCR refinance, without the rigid draw schedule of a full construction loan.

Eligibility Across All Six Programs

Every Sab Tera Lending program is available to individuals, LLCs, corporations, trusts, and foreign nationals. There is no minimum credit score requirement on any of the six loan programs, and none of our underwriting requires personal tax returns, W-2s, pay stubs, or a debt-to-income calculation — the property and the deal structure carry the file. First-time investors are eligible on every program; experienced investors with a documented track record may see enhanced pricing on larger transactions.

Foreign national borrowers are fully eligible across all 20 states, including on our DSCR Rental program, without a U.S. credit history or Social Security Number requirement — a common gap at conventional lenders and even several DSCR-focused competitors that require a minimum FICO score of 660 or higher. LLC vesting is standard and encouraged for liability protection, and we do not restrict entity structure by state the way some lenders do.

Fix and Flip Loans Explained

A fix and flip loan is short-term financing designed to fund the purchase and renovation of a distressed or outdated property that will be resold within 12 to 24 months. Sab Tera Lending funds up to 90% of the purchase price and 100% of the rehab budget on qualifying deals, so investors bring less cash to closing than they would with a conventional renovation loan or a cash purchase. Because the loan is interest-only, monthly carrying costs stay low during the rehab period, which protects margin on projects that run longer than planned. Rehab funds are disbursed on a draw schedule tied to completed work, so the investor isn't required to front the full renovation budget out of pocket. This structure works for single-family homes, 2–4 unit properties, and small multifamily buildings across all 20 states we serve, and it's the entry point most new investors use before graduating into our DSCR, bridge, or construction programs.

DSCR Rental Loans Explained

DSCR stands for debt service coverage ratio — the measure lenders use to determine whether a rental property's income covers its mortgage payment. A DSCR loan qualifies the borrower using this ratio instead of personal income, tax returns, or a W-2, which makes it the standard long-term financing tool for real estate investors whose personal debt-to-income ratio would otherwise disqualify them from a conventional mortgage after two or three financed properties. Sab Tera's DSCR Rental program starts at 6.5% fixed on a 30-year term, with no credit score minimum and no cap on the number of properties an investor can finance. LLC and foreign national borrowers are fully eligible, which is a meaningful advantage over competitors that require a minimum FICO score in the 660–700 range even on asset-based DSCR products. This program is most commonly used either as a direct purchase-money loan for a stabilized rental or as the permanent takeout loan at the end of a BRRRR cycle.

Bridge Loans Explained

A bridge loan is short-term capital used to close quickly on a property before permanent financing is in place — whether that's because the property needs light work before it qualifies for a DSCR loan, the deal has a tight contractual close date, or the borrower needs to access equity in one property to acquire another. Sab Tera's bridge loans start at 9.5% interest-only with terms from 6 to 24 months, and because underwriting is asset-based, we can issue a same-day commitment letter and close in as little as 7 days. There's no prepayment penalty, so an investor who refinances into a DSCR loan or sells the property in month three pays no penalty for exiting early. This flexibility makes bridge loans the right tool for time-sensitive acquisitions, cash-out situations, and foreign national purchases where conventional financing timelines don't fit the deal.

Ground-Up Construction Loans Explained

Ground-up construction financing covers a project from lot acquisition or a torn-down parcel through a finished, certificate-of-occupancy-ready home. Sab Tera funds up to 90% of loan-to-cost at a starting rate of 10.0% interest-only, with capital released on a draw schedule tied to inspected construction milestones rather than disbursed as a single lump sum. This protects both the builder's cash flow and the lender's collateral position as the project progresses. Builders and developers use this program for single-family spec homes, small multifamily new builds, and infill development across all 20 states, and many roll directly into our Multifamily 5+ or DSCR programs once the project reaches stabilization, avoiding a second full underwriting cycle with a new lender.

Multifamily 5+ Loans Explained

Properties with five or more units fall outside conventional residential financing and typically require commercial underwriting. Sab Tera's Multifamily 5+ program provides both bridge financing for value-add repositions and permanent financing for stabilized assets, evaluated on the property's in-place and projected income rather than the sponsor's personal financial statements. This asset-based approach is particularly useful for investors acquiring an underperforming apartment building with a clear capital improvement plan — the kind of deal that a bank's rigid debt-service coverage requirements on the sponsor personally would often reject, even when the underlying real estate fundamentals are strong.

Commercial Real Estate Loans Explained

Our Commercial Real Estate program finances mixed-use, retail, office, industrial, and special-purpose properties for both investors and owner-operators. Like our other five programs, underwriting is asset-based — we look at the property's condition, income potential, and the borrower's business plan rather than requiring personal income documentation. This makes the program a fit for business owners acquiring their own operating space, investors buying a value-add retail center, or developers repositioning an underused industrial building, all with the same zero-upfront-fee, no-prepayment-penalty structure that applies across every Sab Tera Lending program.

Which Loan Program Is Right for You?

The right program depends less on the type of property and more on what happens after closing. If the plan is to buy, renovate, and sell within a year, a Fix and Flip loan is almost always the right fit — the interest-only structure and rehab-cost coverage minimize carrying cost during the hold period. If the plan is to buy and hold a stabilized or near-stabilized rental long term, a DSCR loan's 30-year fixed structure gives predictable payments without the personal income hurdles of a conventional mortgage.

Investors facing a tight closing deadline, a property that needs light work before it qualifies for permanent financing, or a need to access equity quickly should look at a Bridge loan first — it's the most flexible program in terms of exit strategy. Anyone building from raw or entitled land needs the draw-schedule structure of a Ground-Up Construction loan, since neither a fix and flip nor bridge product is built to disburse funds against uncompleted construction milestones.

Properties with five or more units require the asset-based commercial underwriting of our Multifamily 5+ program, while retail, office, industrial, and mixed-use acquisitions fall under Commercial Real Estate. If a deal doesn't cleanly fit one category — a mixed-use building with a residential rehab component, for example — call (516) 336-9293 and we'll structure the loan around the deal rather than forcing it into a rigid box.

Because every Sab Tera Lending program is asset-based, the documentation list is short compared to a conventional loan. Expect to provide a purchase contract or property information, identification, entity formation documents if vesting in an LLC or corporation, proof of funds for any required down payment or reserves, and — on rehab or construction deals — a scope of work and budget. We do not require tax returns, W-2s, pay stubs, bank statement analysis of personal income, or a debt-to-income calculation on any program.

A few terms come up often during the process. LTV (loan-to-value) is the loan amount expressed as a percentage of the property's value. LTC (loan-to-cost) is the loan amount expressed as a percentage of total project cost, including acquisition and rehab or construction — the metric that matters most on fix and flip and construction deals. Interest-only (IO) means monthly payments cover only accrued interest, with the principal due at the end of the term, which keeps carrying costs low during a short hold. DSCR (debt service coverage ratio) divides a property's monthly rental income by its total monthly housing payment; a ratio at or above 1.0 means the rent covers the mortgage.

A draw schedule releases rehab or construction funds in stages tied to completed and inspected work, rather than as a single disbursement at closing. A same-day commitment letter is a written confirmation of loan terms issued the same day a deal is submitted and reviewed — distinct from a full closing, which still requires title work and, on most programs, an appraisal. Understanding these terms up front helps investors compare Sab Tera's terms accurately against Lima One, Kiavi, RCN Capital, Easy Street Capital, and LendingOne when evaluating financing options.

Northeast & Mid-Atlantic — New York, Long Island, New Jersey, Connecticut, Pennsylvania, Massachusetts, Virginia

Higher purchase prices across New York, Long Island, and New Jersey mean deal size runs larger, and investors in these markets lean heavily on our Fix and Flip and Bridge programs to compete against cash buyers in fast-moving inventory. Same-day commitment matters most here — homes in strong Long Island and North Jersey school districts routinely receive multiple offers within days of listing, and a conventional mortgage contingency is often a non-starter for sellers. Connecticut and Massachusetts investors frequently use our DSCR program for coastal and suburban rental acquisitions where rents have kept pace with rising purchase prices. Virginia sits at the southern edge of this cluster and sees strong ground-up construction activity in infill lots near Northern Virginia's employment centers.

Southeast — Florida, Texas, North Carolina, South Carolina, Georgia, Alabama

Florida and Texas remain the highest-volume markets in our Southeast footprint, driven by population growth and steady rental demand. Foreign national investors are especially active in Florida, where our DSCR and Bridge programs' no-U.S.-credit-history requirement removes a major barrier that conventional and even many private lenders impose. North Carolina, South Carolina, and Georgia continue to see strong fix and flip activity in secondary metros where purchase prices allow for healthier renovation margins than the coastal markets. Alabama rounds out the region with growing interest in DSCR rental acquisitions as investors look for markets where rent-to-price ratios still support strong cash-on-cash returns.

Midwest & South — Ohio, Michigan, Indiana, Kentucky, Tennessee, Louisiana, Mississippi

This cluster is where we see the strongest BRRRR activity across our entire footprint. Lower acquisition costs in Ohio, Indiana, and Michigan mean an investor's capital stretches further, and rent-to-price ratios in cities like Cleveland, Indianapolis, and Detroit often support cash flow from day one on a stabilized DSCR refinance. Tennessee and Kentucky combine steady population growth with construction-friendly permitting, which drives demand for our Ground-Up Construction program among regional builders. Louisiana and Mississippi round out the cluster with a mix of fix and flip and multifamily value-add activity, particularly in and around metro areas where older housing stock creates consistent renovation opportunity.

Hard money loans carry higher rates than a conventional mortgage — that's the tradeoff for speed, flexibility, and underwriting that ignores personal income. A conventional 30-year mortgage might price several points lower than our starting DSCR rate, but it also requires two years of tax returns, a debt-to-income ratio typically under 43%, and six to eight weeks to close. For an investor competing on a hot listing, or one whose tax strategy legitimately minimizes reported income, that gap between "approved on paper" and "approved for financing" is exactly what hard money solves.

The math generally favors hard money when speed or leverage determines whether the deal happens at all — a distressed property that needs rehab before it would qualify for a conventional loan, a seller who won't accept a financing contingency, or an investor who has already hit the four-to-ten financed property limit most conventional lenders impose. It favors conventional financing when the investor has strong W-2 or documented income, the property is already stabilized and rent-ready, and there's no urgency to close within days rather than weeks.

Many of our repeat borrowers use both: a Sab Tera Fix and Flip or Bridge loan to acquire and stabilize a property quickly, then a conventional refinance — or our own DSCR program — once the property is rent-ready and the urgency has passed. Because we charge zero prepayment penalties, that transition costs nothing beyond the new loan's own closing costs.

Loan sizes across our six programs range from single-property transactions under $200,000 to multi-million-dollar multifamily and commercial acquisitions. On Fix and Flip and Bridge loans, expect to bring the remaining equity beyond our 90% LTV or LTC coverage — typically 10% of purchase price plus any rehab costs not covered by the draw schedule, along with reserves for interest carry during the hold period. DSCR Rental loans generally require a down payment in the 20–25% range on a purchase, consistent with the broader DSCR lending market, though the exact figure depends on the property's debt service coverage ratio and the borrower's credit profile.

Ground-Up Construction loans are sized against total project cost — land plus hard and soft construction costs — with our 90% LTC ceiling meaning the builder funds roughly 10% of the total project themselves, plus any contingency reserve we require based on project complexity. Multifamily 5+ and Commercial Real Estate loans are underwritten individually against the property's income, condition, and business plan, so leverage and equity requirements vary more by deal than by a fixed published ratio.

Because we charge zero upfront fees, the cash an investor brings to closing goes toward the down payment, reserves, and standard third-party closing costs — title, appraisal, and recording fees — rather than lender-imposed application or underwriting fees that some competitors charge before a file is even reviewed.

Every Sab Tera Lending file is evaluated against three core questions: what is the property worth today and after any planned work, what is the borrower's realistic exit strategy, and does the deal structure leave enough margin to absorb a delay or a market shift. This is a fundamentally different lens than a bank's, which starts with the borrower's income and works backward to a maximum loan amount regardless of the specific deal in front of them.

On Fix and Flip and Construction loans, that means we look closely at comparable sales, the scope of work, and the contractor's track record when available. On DSCR loans, the lease or market rent analysis and the property's condition drive the decision far more than the borrower's credit score, which is why we don't impose a minimum. On Multifamily and Commercial deals, we evaluate in-place income, deferred maintenance, and the sponsor's business plan for the property, treating experienced and first-time sponsors on the merits of the specific deal rather than a blanket experience requirement.

This approach is also why we can issue a same-day commitment letter: the file doesn't need to move through a multi-layer credit committee built around personal income verification. One team reviews the property and the deal, and a decision follows the same day in nearly every case, across all 20 states we serve.

Every deal is different, and the fastest way to get an accurate quote is a short conversation about the property, the numbers, and the timeline. Call (516) 336-9293 or submit a free consultation request, and expect a same-day response — no income documents required to start the conversation. Whether the deal fits neatly into one of our six programs or needs a custom structure, we'll walk through the numbers with you before you commit to anything.

The First-Time Flipper

New investors often assume hard money requires years of experience most banks demand for investment property lending. Sab Tera has no minimum experience requirement on our Fix and Flip program — the deal itself is what we underwrite. A first-timer with a solid purchase price, a realistic rehab budget, and a clear comparable-sales exit still qualifies for the same 90% LTV and 100% rehab coverage as an experienced investor, though larger or more complex projects may see closer review of the scope of work.

The Portfolio Landlord

Investors who've hit the four-to-ten financed property ceiling most conventional lenders impose turn to our DSCR Rental program specifically because there's no cap. Each property is underwritten on its own rental income, so a landlord with fifteen existing mortgages can add a sixteenth financed purchase without triggering a personal debt-to-income review that would sink the deal at a bank.

The Foreign National Buyer

International investors without U.S. credit history are routinely declined by conventional lenders regardless of liquidity or deal quality. Our Bridge and DSCR programs are built around asset-based underwriting that doesn't require a U.S. credit score, making Florida, Texas, and New York — three of the most active foreign-national markets in our footprint — accessible without the workarounds many lenders require.

The Builder or Developer

Ground-up builders need a lender who understands draw schedules and construction timelines, not one applying residential-purchase underwriting to a construction deal. Our Construction program is built specifically around milestone-based disbursement, and builders working across multiple states in our footprint benefit from a single lender relationship rather than re-qualifying with a new regional lender in each market.

The Value-Add Multifamily Sponsor

Sponsors acquiring underperforming 5+ unit properties need a lender who evaluates the business plan, not just current in-place income. Our Multifamily 5+ program is structured to fund both the acquisition and a capital improvement budget against the property's projected stabilized income, giving sponsors room to execute a repositioning plan without personally guaranteeing the entire capital stack.

Sab Tera Lending is a direct private hard money lender based in Huntington, New York, funding real estate investors across 20 states from New York and Long Island down through Florida and Texas, and across the Southeast and Midwest. We built our lending model around a simple premise: the property and the deal structure should determine whether a loan gets funded — not a borrower's tax returns, credit score, or W-2 history.

That means every one of our six loan programs — Fix and Flip, DSCR Rental, Bridge, Ground-Up Construction, Multifamily 5+, and Commercial Real Estate — shares the same underwriting philosophy: no income verification, no minimum credit score, zero upfront fees, and no prepayment penalty. Because we fund directly rather than brokering to an institutional pipeline, we can issue a same-day commitment letter and close most transactions in 7 days.

Our office is located at 15 Artisan Ave., Huntington, NY 11743, and while our loan officers work with investors across all 20 service states by phone and email, we understand the Long Island and New York metro market especially well — a market where speed and certainty of execution routinely decide who wins a deal. Call (516) 336-9293 or email info@sabteralending.com to discuss your next deal, whether it's a single-family flip down the street, a DSCR rental purchase, or a multifamily acquisition three states away — every conversation starts with the deal, not a credit pull.

"Zero upfront fees" means Sab Tera Lending does not charge an application fee, an underwriting fee, or a commitment fee simply to review and approve a deal — costs several competitors charge before a borrower even knows whether they'll be approved. Standard third-party closing costs still apply on every transaction: title insurance and search, recording fees, and, on most programs, an appraisal or valuation. These are paid to third parties, not retained by Sab Tera Lending, and are disclosed up front so there are no surprises at the closing table.

Origination points — the lender's fee for funding the loan — are quoted individually per deal based on loan size, leverage, and program, and are always disclosed in the same-day commitment letter before an investor commits to moving forward. Because we're a direct lender, that origination fee isn't stacked on top of a separate broker fee the way it can be when a loan is sourced through a wholesale channel, which is one of the more common hidden costs investors run into when comparing hard money lenders.

The zero-prepayment-penalty policy across all six programs also matters for total cost of capital: an investor who sells a flip in four months instead of the planned eight, or refinances a bridge loan into a DSCR loan ahead of schedule, pays only the interest actually accrued — never a penalty for finishing early.

On Fix and Flip and Construction loans, rehab and construction funds are released through the draw schedule as work is completed and inspected — typically requiring a short-notice inspection request and a brief turnaround before funds are disbursed. Borrowers make interest-only payments on the outstanding balance throughout the term, and as the property nears completion, the team stays in contact regarding exit timing, whether that's a sale or a refinance into a DSCR loan.

On DSCR Rental loans, the 30-year fixed structure means a predictable monthly payment for the life of the loan, with no balloon payment or rate reset to plan around. Multifamily and Commercial borrowers on bridge structures work with the same team through refinance or sale, and because there's no prepayment penalty, there's no cost pressure to time an exit around a penalty period the way there might be at other lenders.

Across every program, borrowers keep the same point of contact from application through the life of the loan — one of the practical advantages of working with a direct lender rather than having a file passed between an originator, a servicer, and a separate investor relations team at three different companies.

The most common delay we see isn't underwriting — it's an incomplete or unrealistic rehab budget submitted with the initial deal package. A scope of work that's missing line items or a budget that doesn't match the property's actual condition forces a second round of review before a commitment letter can be finalized. Submitting photos, a contractor estimate, and a realistic timeline up front is the single fastest way to keep a fix and flip or construction deal moving toward a same-day commitment.

On DSCR deals, the second-most-common delay is a rent estimate that doesn't hold up under appraisal — an investor projecting rent based on an optimistic online estimate rather than comparable signed leases in the immediate area. Because DSCR qualification is built entirely around that rent figure, a gap between projected and appraised rent can change the loan amount or rate at the last stage of underwriting. Pulling two or three comparable active leases before submitting a deal avoids this entirely.

Investors closing in an LLC sometimes submit incomplete entity documentation — an operating agreement that hasn't been signed by all members, or a formation filing that hasn't yet been finalized with the state. Since we don't require personal income documents, entity paperwork is one of the few document categories that genuinely needs to be complete before closing, so having it finalized before submitting the deal removes a step that otherwise adds a few days to the timeline.

Finally, on any program, underestimating the interest reserve needed to carry a loan through an unexpectedly long hold period is the most common financial — rather than procedural — mistake. Building a modest buffer into the deal analysis beyond the minimum required reserves protects margin if a sale takes an extra month or a permit gets delayed, and it's a habit every experienced investor in our network has learned to build into their underwriting before ours ever begins.