Here is what our lending partners and the wider market ask for: the credit floor, the cash beyond the down payment, the documents, and two requirements that catch borrowers out at closing.
"No credit check": the honest answer
It is half true, and the half that is not true costs people money.
On a business-purpose hard money loan, your credit is not the deciding factor the way it is on a home mortgage. The property and the plan carry most of the decision, and income verification, W-2s, employment checks and debt-to-income calculations are usually not part of the file, which is exactly why self-employed investors use this product.
But legitimate lenders still look at your credit, and it shapes your pricing and leverage as well as your eligibility. Our lending partners set 600 as the minimum score on fix and flip, rehab and bridge loans. Other lenders draw the line in different places, and a lower score usually shows up as a larger down payment, lower leverage or a higher price rather than a flat no.
So pull your own reports before you apply. They are free from each of the three bureaus at AnnualCreditReport.com. If the score is borderline, paying down balances or disputing an error can be worth more than shopping for a better rate.
What is actually required
| Requirement | What lenders look for | Notes |
|---|---|---|
| Credit score | Lender-specific floor | Our lending partners: 600 minimum on fix and flip and bridge, and no minimum score on their DSCR rental loans. |
| Down payment | Whatever the caps leave | Our lending partners lend up to 100% of cost and up to 70% of after-repair value, whichever is reached first. When the after-repair cap binds, the gap is your cash. |
| Cash reserves | Months of holding costs | Held after closing to carry interest, taxes, insurance and utilities if the project runs long. Overlooked more often than any other requirement. |
| After-repair value | Defensible | Backed by recent comparable sales from that neighborhood. Optimistic comps are a common reason a loan comes in smaller than planned. |
| Scope of work | Line-item | With contractor bids attached. Underwriting will test it. |
| An entity | LLC or corporation | These are business-purpose loans on non-owner-occupied property. They are written to your company, not to you personally. |
| Exit strategy | Dated and evidenced | Sale or refinance, with a timeline and the numbers behind it. Not just described. |
Two requirements that surprise people at closing
Have a deal on the table?
Send the address, the numbers and your exit. Our lending partner's team reviews it and tells you whether it fits and on what terms. The lender makes every credit decision.
The documents to have ready
Assemble these before you apply rather than after, and the file moves at the speed of the appraisal and title work instead of the speed of your inbox.
- Government-issued photo ID: a driver's license or passport.
- Recent bank statements: proving the down payment and the reserves are real.
- The executed purchase agreement, or the payoff figures if you are refinancing.
- Your entity paperwork: operating agreement, articles of organization and EIN letter.
- A preliminary title report. Title problems are a common cause of delay and surface early if you look early.
- Proof of funds for everything the loan does not cover.
- Your track record: a list of completed projects with addresses and dates, if you have any.
Add the scope of work with bids, the comparable sales supporting your after-repair value, and a written exit. That is the complete file. Individual lenders may ask for more.
If you have done deals before, prove it
Experience moves your terms more than almost anything else. Our lending partners size leverage on experience documented over the past three years, and most borrowers present it badly: as a claim rather than a record.
Build a one-page list of your completed projects, and for each one give the address, the purchase price, the rehab cost, the after-repair value, what actually happened, how much you borrowed, and how long it took you to pay the loan off. That last column is the one lenders care about most, and it is the one people leave out. Settlement statements and recorded deeds back it up.
If this is your first deal, say so plainly. Lenders price inexperience; they do not generally refuse it. A first-timer with conservative numbers, real contractor bids and a credible exit is a better file than an experienced flipper with an optimistic after-repair value.
Plan B, before you need it
If you reach the maturity date without an exit, the options narrow quickly: a paid extension if the lender offers one, a refinance into another loan, or default. None of them is cheap, and the last one can cost you the property.
Arrange the fallback before you close, not when the clock runs out. For most flips that means knowing whether the finished house would qualify for a DSCR rental refinance. Our lending partners' DSCR loans have no minimum credit score and lend from $75,000 to $2 million at up to 80% of value. Check the rent, the ratio and the leverage while you still have the option of walking away from the purchase.
One thing worth knowing about the rules
Business-purpose credit on an investment property sits outside the federal consumer mortgage rules that govern a home you live in. Lending on it is shaped largely by state law instead, which is why requirements and availability differ noticeably from one state to the next.
Ask early where the property is and whether the lender works there. It is a faster conversation than discovering the answer after an application. Our lending partners finance in most of the country, and there are places they do not: we will tell you before you go under contract rather than after.
Get your deal reviewed
Answer these and your deal goes to our lending partner's team, who will contact you about whether it is fundable and on what terms. By sending it you agree to your details being shared with them. Investment property only: our lending partners do not finance a home you will live in.
Got it.
Thank you. Your details are on their way to our lending partner's team, who will contact you shortly.
Qualification questions
Do hard money lenders check your credit?
Legitimate ones do, but credit does not decide the file the way it does on a home mortgage. The property, the numbers and the exit carry most of the weight, and credit shapes your pricing and leverage. A lender who never looks at all is worth being careful with.
What credit score do I need for a hard money loan?
Our lending partners require at least 600 on fix and flip, rehab and bridge loans, and set no minimum score on their DSCR rental loans because those qualify on the property's rent. Below 600, the rental route is usually the one to look at first.
How much cash do I need to bring besides the down payment?
Plan for points, closing costs and reserves on top of the down payment. Reserves are the part people forget: lenders want to see enough cash after closing to carry interest, taxes, insurance and utilities for several months if the project runs long.
Will I have to sign a personal guaranty on a loan made to my LLC?
Usually. The loan is written to your entity, but lenders commonly require the owners to sign a personal guaranty, so the company does not shield you the way investors often assume. Ask before you apply, and read what it covers.
What documents do I need for a hard money loan?
Photo ID, recent bank statements, the purchase contract, your entity documents, a preliminary title report and proof of funds, plus a line-item scope of work with bids, comparable sales for the after-repair value and a written exit plan.
Can I get a hard money loan if I have never flipped a house?
Often, yes. Lenders price inexperience rather than refusing it, usually through lower leverage. Conservative numbers, real contractor bids and a credible exit make a stronger first-time file than an experienced borrower with an optimistic after-repair value.
Sources
- AnnualCreditReport.com, the federally authorized source for free credit reports from Equifax, Experian and TransUnion (accessed Oct 2026)
- Federal Trade Commission, Disputing errors on your credit reports, how to dispute an error with the bureaus and the business that reported it (accessed Oct 2026)
- CFPB, Regulation Z 12 CFR 1026.3, credit for a business purpose, and credit to an entity, is exempt from the consumer mortgage rules (accessed Oct 2026)
Dominion Hard Money does not lend its own funds; it arranges financing through third-party lending partners. All financing is arranged for business purposes only and secured by non-owner-occupied investment property. Not a commitment to lend. All loans subject to underwriting, property review, and approval by the lender. Terms vary by property, borrower experience, and exit strategy.