Getting your loan approved by multiple lenders

How to get private hard money loans approved

The first thing to know about getting your loan approved by lenders is that lenders are eager to arrange loans and will help you with your loan request to their qualification limits.

Understanding the qualification limits is the key to any successful loan funding. The other factor is how to pitch your loan request to lenders.

What are Qualification Limits?

The qualification limits, also known as underwriting guidelines, are the combined maximum and minimum qualification factors each lender sets as a guideline. If the combined factors fall within the lender's policies, the lender will approve the loan. If the combined factors exceed the lender's guidelines, the loan is considered too risky from the lender's point of view, and the lender will decline the loan.

The Most Critical Qualification factors

The most common reasons your loan request does not match with lenders are:

  • Requesting a loan with too high an LTV

  • Having too low a credit score

  • Insufficient Income to debt-service the loan.

The LTV is the most critical factor for hard money loans, followed by credit score.

Your loan request acts as a filter for thousands of loan programs from our lenders. Those with too high an LTV (Loan to Value) or too low a credit score will not get matching programs.


If you get no matching lenders, the first thing to check is the LTV, followed by credit.

This table shows the Minimum credit for LTV ranges required for hard money loans.


Min. Credit requirements

Degree of Difficulty

Potential lenders* out of 1000



Extremely difficult

12 (1.2% success rate)



Very hard

105 (10.5% Success rate)



Not too hard

827 (82.7% Success rate)




873 ( 87.3% Success rate)

Under 50%


Very Easy

925 (92.5% Success rate)

A. Reduce the LTV by adding another real estate property with equity.

B. Add a co-borrower with good credit and show the co-borrower's credit in the loan request.

C. Use the Lendersa® loan optimization engine to find solutions for matching with lenders

Other factors lenders consider

If you can get the LTV/ Credit in the correct range, you open the door to get your hard money loan. But there are 10-30 additional factors that could prevent or enhance your chances for better rates and terms.

Use the lendersa Optimization engine to improve your chance for a better loan, and follow the instructions in this blog.


Here are some of the additional factors lenders consider:
  • Loan Purpose

  • Property Type

  • Subtypes
  • Location
  • Max. LTV
  • Min. FICO score
  • Property condition
  • Loan amount
  • Loan position
  • Income and expenses
  • Income verification
  • Type of Income
  • Cash out
  • Citizenship
  • Occupancy
  • Eligibility
  • Funding time
  • Reserves
  • Other real estate
  • Cash reserves
  • Bk and foreclosure
  • Purchase or refinance
  • Co-borrowers
  • Other qualification factors

How to pitch your loan request to lenders

Hard money loans are different from one to another, and you will get fast results if you explain the loan purpose clearly and with enough detail for investors to understand it comprehensively.

The Lendersa platform will distribute your loan request to many qualified lenders at the same time, and instead of wasting hours explaining your loan to each investor, having a good summary will save you lots of time.

Find out how to pitch your loan request to lenders