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Hard money and fix and flip loans in Silver Spring, MD
Financing for older single-family homes, condos near the Metro and long-term rentals in Montgomery County.
The Silver Spring market for investors
Silver Spring sits on the District line in Montgomery County, with a dense downtown around the Red Line and neighborhoods of brick colonials, Cape Cods and ramblers built from the 1920s to the 1960s. Transit, federal employment and good access to downtown DC keep long-term rental demand strong.
Investors renovate dated homes in established neighborhoods, buy condos near the Metro to rent, and hold single-family rentals. The Purple Line light rail is expected to add new transit stops through the area.
Areas investors ask about
- Downtown Silver Spring: condos and apartments near the Red Line and MARC
- Woodside, Woodside Park and Indian Spring: older single-family homes to renovate
- Four Corners, White Oak and Hillandale: ramblers and split-levels at lower prices
- Long Branch and Takoma Park border: older homes and small multifamily near Purple Line stations
Plan for these on a Silver Spring deal
- Montgomery County requires a rental housing license for rental units, with inspections. Budget time for it before the first tenant moves in.
- Montgomery and Prince George’s counties limit short-term rentals to a host’s primary residence, so investment properties are underwritten on long-term rent.
- Condo association fees count in the payment for a DSCR loan. Ask for the budget and any special assessments.
- Many homes in the area were built before 1978. Plan for lead-safe work practices on renovations.
Loans available in Silver Spring
| Program | Use it for | Top leverage |
|---|---|---|
| DSCR rental loans | Purchase or refinance of long-term rentals, rowhouses, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance |
| Ground-up construction loans | Building a home, an infill rowhouse or a rental from the ground up, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value |
| Fix and flip loans | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value |
| Portfolio and commercial loans | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal |
Silver Spring hard money loans: common questions
Yes. We finance fix and flips, long-term rentals, condos and construction across Silver Spring and the rest of Montgomery County.
Yes, as rentals through our DSCR program, including non-warrantable condos. The full association fee counts in the payment.
Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. Closings are handled by a title company or settlement attorney.
Looking at a property in Silver Spring?
Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal.