Say goodbye to traditional financing delays and frustrations.
FAQs
Q: My credit isn’t perfect. Can I still qualify for a hard money loan?
A: Probably, yes! We don’t have a minimum FICO like banks do. Our loans are based on the property’s value and your game plan for it, more than your personal credit. We won’t make you jump through the usual hoops – no tax returns or W-2s required. As long as the deal looks solid and you can invest a bit of your own cash, there’s a good chance we can work together. Many of our clients come to us specifically because the bank said no; we strive to find a way to say yes.
Q: Do you offer 30-year rental loans or help with refinancing after the flip?
A: We specialize in short-term hard money loans (generally 6-18 months) for acquisitions, flips, and bridge situations. We do not directly offer 30-year fixed or DSCR rental loans. However, we’ve got you covered when your project is done: many of our clients refinance into a traditional mortgage or a DSCR loan after using our funds to renovate or season the property. We’re happy to connect you with our network of long-term lenders when you’re ready for that step. Essentially, borrow short-term from us to win the deal and add value, then refinance with a lower-rate loan for the hold – we’ll assist you in making that transition smooth. Think of DayOne as the bridge to get you from purchase to profitability, and a partner who’ll help you secure the best exit financing when the time comes.
Q: What are your interest rates and fees?
A: Our rates typically range from 9.9-12.9% (annualized) for short-term loans, with origination points paid at closing. While that’s higher than a conventional mortgage, remember: this is short-term, quick capital designed to make you money. There are no junk fees or surprise charges. And we never charge any big upfront fees just to consider your loan – beware any “lender” who does. We only get paid when your deal closes. Also, we don’t trap you in the loan – there’s no prepayment penalty, so if you finish your project early or refinance out, you can pay us off with no extra cost. In short, we make money when you make money, and we keep our fees transparent and fair for that purpose.
Have more questions? We’re just a phone call or email away – and we love talking to investors! ✉️ loans@dayonepc.com
Q: How fast can you close?
A: We can close in as little as 1-2 days in select markets, once we have everything we need. If you’ve got a clean deal and respond quickly, we move even faster. Our underwriting is designed for real investors—not slow banks—so you can lock up deals without losing your edge.
Q. What do I need to get started?
A: Just submit your deal through our quick online form. We’ll need the property address, purchase price, rehab budget (if applicable), and your exit strategy. That’s it. Once we review, we can issue a term sheet fast.
