Understanding What Actually Drives Hard Money Closing Timelines

One of the biggest reasons real estate investors turn to hard money lending is speed. In competitive New England markets, the ability to close quickly can be the difference between winning a deal and losing it to an all-cash buyer.

But how fast can a hard money loan really close?

While some investors hear stories of “funding in days,” the reality is more nuanced. Closing speed depends less on marketing promises and more on preparation, property fundamentals, and lender decision-making processes. Let’s break down what drives hard-money timelines, what’s realistic to expect, and how investors can position themselves to close as quickly as possible without unnecessary risk.

Why Hard Money Is Faster Than Traditional Financing

Traditional banks are designed for long-term, low-risk lending. As a result, their approval process focuses heavily on:

• Tax returns
• Debt-to-income ratios
• Employment history
• Committee approvals

Hard money lenders, by contrast, lend on the value of the real estate asset itself, not just the borrower’s financial profile. As Bryan Joyce explains, the term “hard money” refers to lending on a hard asset, real estate, rather than speculation on personal income.

Because of this:

• Underwriting is simpler
• Decisions are faster
• Fewer third parties are involved

This structural difference is what enables faster closings.

So… How Fast Can You Close a Hard Money Loan?

Typical Timeframes (When Things Are Done Right)

With New England Hard Money Loans:

• Initial deal review: 24-48 hours
• Term sheet issuance: Often within days
• Due diligence & valuation: 1-2 weeks 
• Closing: as soon as the title and legal work are complete

In many cases, hard money loans can close in 2-3 weeks, and sometimes faster when the borrower is well-prepared and the property is straightforward.

However, closing in “a few days” is the exception - not the norm.

What Actually Determines Closing Speed

1. 
   Borrower Preparedness

One of the biggest drivers of speed is whether the borrower has their “ducks in a row.”

RF Boston typically asks for:

• A basic personal financial statement 
• A clear project budget
• Details on the property and exit strategy

When this information is ready, decisions can be made quickly, often within 24-48 hours. Borrowers who wait until after going under contract to organize information often unnecessarily slow the process.

1. Property Type and Complexity

Not all properties are created equal. Straightforward projects, such as single-family renovations or clearly defined new construction, tend to move faster. More complex deals may take longer, including:

• Mixed-use properties
• Unusual zoning situations
• Environmental or title issues

Bryan Joyce notes that accurate property pricing and a clear understanding of the scope of work are far more important than chasing the lowest interest rate when speed matters.

1. Appraisal and Valuation Timing

While hard money lenders often use technology-enabled valuations, broker price opinions, or streamlined appraisals, third-party reports still take time.

These steps are usually the longest part of the process, and not fully controllable by the lender or borrower.

1. Title and Legal Readiness

Even if underwriting is complete, a loan can’t close until:

• The title is clear
• Insurance is in place
• Legal documents are finalized

Delays here are common, especially on distressed or previously transferred properties.

Why Speed Doesn’t Mean Skipping Discipline

One misconception is that hard money lending is “loose” or reckless. In reality, the best lenders balance speed with discipline.

New England Hard Money Loans focuses on:

• Realistic property values
• Conservative exit assumptions
• Helping borrowers avoid overpaying upfront or overpricing on resale

Moving too fast on a bad deal doesn’t help anyone, especially the borrower.

The Role of Lender Relationships in Faster Closings

For short-term loans, Bryan Joyce emphasizes that relationships matter more than small differences in rates. Local and regional lenders can:

• Make decisions in-house
• Modify loans when timelines shift
• Respond quickly when projects change

National lenders may advertise lower rates, but often lack the flexibility required when real-world projects encounter delays, labor shortages, or cost overruns.

Market Realities That Impact Timelines

In the last few years, construction timelines have lengthened due to:

• Labor shortages
• Rising material costs
• Supply chain disruptions

Projects that once took 3-4 months may now require extensions beyond the traditional 12-month loan term, making lender flexibility essential. These conditions don’t necessarily slow closings, but they do reinforce the importance of working with a lender who understands evolving timelines.

How Borrowers Can Close Faster

Investors who consistently close quickly tend to:

• Engage lenders before going under contract
• Understand realistic pricing on both purchase and resale
• Provide clean, complete information upfront
• Work with experienced local lenders

We often work with borrowers in advance, reviewing their track records and walking through potential loan structures, so they’re ready when the right deal arises.

Hard money loans are fast, but they’re not magic. A realistic expectation for most deals is:

• Approval within days
• Closing within weeks
• Flexibility when timelines shift

Investors who understand this and plan accordingly are far more likely to succeed.

How quickly can you close a hard-money loan? Fast enough to compete, if you’re prepared, realistic, and working with the right lender. Bryan Joyce and team focus on speed with discipline, relationships over rate chasing, and helping borrowers succeed long after closing. In today’s market, that combination matters more than ever.