Hard Money Loans in Mobile, AL
Loan-size math and qualifying analysis for Hard money financing on Mobile's $197k median home value. Strong fit.
Strong fit for Mobile.
Mobile has active flip + wholesale activity (flip fit 63/100, wholesale fit 93/100) — hard-money makes sense for the velocity these strategies require.
Payment on Mobile's $197k median.
| Median home value (Mobile) | $197,044 |
| Assumed LTV | 85% |
| Loan amount | $167,488 |
| Cash to close (down payment) | $29,556 |
| Assumed rate | 11.00% |
| Term | 6-18 mo, interest-only |
| Monthly P&I | $1,535/mo |
Hard money financing — the mechanics.
Short-term (6-18 month) loans underwritten primarily on the property's after-repair value and the borrower's flip/project experience. Interest-only payments during the term; balloon at maturity (paid off by sale or refinance).
Lender requires: 600+ FICO typical (some go lower), 10-20% cash to close, proof of reserves equal to 6 months of carry, project plan + scope of work. Funding in 7-14 days standard.
How Alabama law affects this loan.
Alabama foreclosure timeline: non-judicial, ~60-90 days. See full Hard money in Alabama breakdown.
Frequently asked.
What's the typical Hard money loan size for a property in Mobile?
On Mobile's $197k median home value, a Hard money loan at the standard 85% LTV would be approximately $167k, requiring $30k down.
What's the monthly payment on a typical Hard money loan in Mobile?
Interest-only payment on a $167k Hard money loan at the typical rate of 11.00% would be approximately $2k/month, excluding taxes and insurance.
Is Mobile a good market for Hard money financing?
Mobile has active flip + wholesale activity (flip fit 63/100, wholesale fit 93/100) — hard-money makes sense for the velocity these strategies require.
What credit and reserves do Hard money lenders require for Mobile properties?
Lender requires: 600+ FICO typical (some go lower), 10-20% cash to close, proof of reserves equal to 6 months of carry, project plan + scope of work. Funding in 7-14 days standard.
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