Real estate investors are drawn toward hard money loans for one main reason: a fast close. The faster you can close on your loan, the better your chances are of beating out your competition and getting the property you want. It’s pretty common knowledge that private lenders will close a loan faster, but do you know why that is? Read on to find out.

Asset-Based Lending

Your lender doesn’t care about your credit history or any bumps that may have damaged your credit score. We focus solely on the deal at hand. Because of this, we don’t have to take extra time to dig into your background and analyze every part of your financial history. Hard money lenders don’t care if you haven’t always been able to make every single credit card payment on time or if a mistake years ago damaged your financial health. We base loans off of the deal you place before us and your plan for the property, resulting in a faster closing process.


There is also less paperwork involved when applying for a hard money loan. Most hard money lenders don’t need to verify your income or credit history in order to approve a loan, which means you don’t have to complete nearly as much paperwork as you would with a traditional loan. This saves you weeks and lets you get started on rehabbing your property much faster.


Hard money lenders have an approval process that is significantly shorter than the process a bank must go through. At Washington Capital Partners, we do everything in-house, meaning nothing has to be passed along to other partners or companies. You will deal with one point person throughout the duration of your loan, and that person is almost always immediately available. Since nothing changes hands or has to go through multiple departments for approval, we have the ability to close a loans faster, sometimes in as little as 24 hours.

Contact us if you would like more information on hard money, private lending, or Washington Capital Partners.