Hard Money Loans in Philadelphia, PA
Loan-size math and qualifying analysis for Hard money financing on Philadelphia's $234k median home value. Strong fit.
Strong fit for Philadelphia.
Philadelphia has active flip + wholesale activity (flip fit 81/100, wholesale fit 95/100) — hard-money makes sense for the velocity these strategies require.
Payment on Philadelphia's $234k median.
| Median home value (Philadelphia) | $233,814 |
| Assumed LTV | 85% |
| Loan amount | $198,742 |
| Cash to close (down payment) | $35,072 |
| Assumed rate | 11.00% |
| Term | 6-18 mo, interest-only |
| Monthly P&I | $1,822/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 Pennsylvania law affects this loan.
Pennsylvania foreclosure timeline: judicial, ~9-12 months. See full Hard money in Pennsylvania breakdown.
Frequently asked.
What's the typical Hard money loan size for a property in Philadelphia?
On Philadelphia's $234k median home value, a Hard money loan at the standard 85% LTV would be approximately $199k, requiring $35k down.
What's the monthly payment on a typical Hard money loan in Philadelphia?
Interest-only payment on a $199k Hard money loan at the typical rate of 11.00% would be approximately $2k/month, excluding taxes and insurance.
Is Philadelphia a good market for Hard money financing?
Philadelphia has active flip + wholesale activity (flip fit 81/100, wholesale fit 95/100) — hard-money makes sense for the velocity these strategies require.
What credit and reserves do Hard money lenders require for Philadelphia 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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