The quick read: Compare hard money lenders for a St. George or Washington County project by sending each one the same deal and scoring the term sheets on total dollar cost over the real hold, the basis behind the leverage, how rehab or construction money is released, and whether the maturity leaves room for the exit. NerdWallet's hard money guide (updated March 10, 2026) says loan-to-value typically runs 50% to 75%. Two local rules decide the exit. The City of St. George allows nightly rentals only on its approved properties list, so a lender that sizes on nightly revenue anywhere else is sizing on income the city will not license. And Utah taxes a finished rental on 55% of market value only when it is a full-time tenant's primary residence and the owner files on time, so the tax line a refinance lender uses depends on the plan you choose.
Typical hard money loan-to-value (NerdWallet, updated Mar 10, 2026): 50% to 75%
Typical fix-and-flip repayment term (NerdWallet, updated Feb 11, 2026): six to 24 months
Utah rate rule: parties to a lawful contract may agree upon any rate of interest (Utah Code section 15-1-1)
Utah lien rule: a contractor or supplier files a preliminary notice within 20 days of starting work (Utah Code section 38-1a-501)
Nightly rentals in the City of St. George: approved properties list only
Finished rental tax basis: 55% with a full-time tenant on file, 100% for nightly or transitory use
How do you compare hard money lenders for a Washington County project?
You compare hard money lenders on a Washington County project by sending every lender the same purchase price, budget, schedule and exit, then scoring the term sheets on total dollar cost, leverage basis, draw mechanics, extension terms and the fit between maturity and exit, not on the headline rate. This guide names no lenders; it gives you the criteria.
The project might be a single-family flip in Bloomington, a small rental build in Little Valley, a duplex in Washington City or a lot in unincorporated county land. Score every quote on the same lines:
- Total dollar cost. Rate, points at closing, extension points, draw and inspection fees, legal and exit fees, added up as one figure over the hold you actually expect.
- Leverage basis. Purchase price, as-is value, total project cost or after-repair value, and what percentage of each.
- Draws. How much is held back, how often draws fund, who inspects, and how long a funded draw takes.
- Interest on undrawn funds. Whether interest runs on the full commitment or only on money advanced.
- Revenue assumptions. Whether the lender sizes an exit on nightly revenue, and only where the city allows it.
- Jurisdiction. Whether the lender knows which city or county approves the plans and the use.
- Exit fit. Whether the maturity covers permits, construction, licensing, lease-up and a refinance, or a sale.
What do published sources say about hard money leverage and terms?
Published guides put hard money leverage well below bank leverage and terms far shorter than a mortgage, which is why total cost and exit timing matter more than the rate: NerdWallet says hard money loan-to-value typically runs 50% to 75%, against 80% to 90% from traditional lenders, with repayment terms of six to 24 months.
NerdWallet's hard money guide adds that a lender may ask for a down payment of 10% to 30% or more, and that high rates combined with short terms can make these loans harder to repay than other financing. Its fix-and-flip guide (updated February 11, 2026) says the maximum loan-to-value for fix-and-flip loans is usually up to 90%. A hard money loan is priced for speed and flexibility, so the comparison has to be done in dollars.
The basis changes the check you write more than the percentage does. Take an illustrative Bloomington flip, every figure assumed: purchase $420,000, rehab $60,000, total cost $480,000, after-repair value $560,000, with as-is value assumed equal to the purchase price. Run it through the loan-to-cost calculator:
Quote on 65% of as-is value: $273,000, with no rehab money, so you bring $207,000
Quote on 80% of total cost: $384,000, so you bring $96,000
Quote on 70% of after-repair value: $392,000, so you bring $88,000, if the appraisal supports the after-repair figure
Total dollar cost is the second test. Assume Lender A quotes 10% with 3 points and Lender B quotes 12% with 1 point, both on $384,000 with the full balance outstanding. Over six months A costs $30,720 and B costs $26,880. Over twelve months both cost $49,920. Over fifteen months A costs $59,520 and B costs $61,440. The cheaper lender depends on how long the project really takes.
How should draws and lien waivers work on a Washington County rehab or build?
Draws on a Washington County rehab or build should be tied to Utah's State Construction Registry, because Utah Code section 38-1a-501 requires anyone who wants to claim a construction lien to file a preliminary notice within 20 days of starting work, so the registry shows who can still lien the property when each draw is requested.
The statute also says a person who fails to file a preliminary notice may not claim a construction lien, and that a late notice protects only work provided starting five days after it is filed. That gives you a checklist to put to every lender:
- Does the draw package require a registry search and lien waivers from the general contractor and every subcontractor or supplier who has filed a preliminary notice?
- Who inspects, how soon after a request, and does the borrower pay per inspection?
- Is interest charged on the full commitment from closing or only on funds advanced? On an assumed $60,000 holdback at 10%, six months of interest on undrawn money is $3,000.
- Will the final draw fund against a certificate of occupancy, or does the lender keep a retainage until the city rental license issues?
On new construction in Little Valley or Desert Color's residential neighborhoods the schedule is longer than on a flip, so a lender's extension terms matter as much as its draw speed.
Does the lender underwrite nightly revenue, and only where the city allows it?
A hard money lender that sizes your exit on nightly rental revenue is only credible on a parcel where nightly use is allowed, because the City of St. George publishes an approved short-term rental properties list and an approved areas map, and a refinance lender will not count income from a use the city does not permit.
The city's Approved Short Term Rental Properties list names developments in Green Valley, Entrada (Shinava Ridge units 24 to 39 only, and The Inn at Entrada), The Ledges, Bloomington Country Club Vacation Villas, Villas at Sun River where each plat specifies approved units, Redhawk, historic landmark properties as approved, and Desert Color, resort only. The approved areas map is dated June 4, 2026.
So ask each lender, in writing, what revenue its exit assumes. A house in Desert Color's residential neighborhoods is not inside the resort, and a house in Bloomington is not in the Vacation Villas. If the project sits in Santa Clara, Ivins, Washington City or Hurricane, those are separate cities with their own rules, so get the use confirmed by the city that governs the parcel. Seasonal income only helps the exit where the use is legal and the refinance lender will read twelve months of it.
Which jurisdiction approves the project, and why does a lender care?
The jurisdiction matters because the city or county that issues the permits, the certificate of occupancy and the rental license sets the project schedule, and the schedule sets how much extension risk sits inside a short hard money maturity on a Washington County project.
Within the City of St. George, a finished rental needs a rental dwelling business license. The city's checklist says the license name must match the owner recorded on title with the Washington County Assessor, an LLC must provide entity documents naming all principals, a change of ownership needs a new application within thirty days, three or more units may require a Code Enforcement inspection before the license issues, and an owner outside Washington County must list a local agent. Its inspection checklist requires one covered and one uncovered parking space per dwelling unit, which matters on a small multifamily site plan.
Projects in Washington City, Santa Clara, Ivins or unincorporated county land follow those jurisdictions' processes instead. Ask each lender whether it has closed projects under the same jurisdiction, and build the approval steps into the maturity before you compare rates.
How does Utah's residential exemption change a refinance exit?
Utah's 45% residential exemption sets the tax line a refinance lender will use on a finished Washington County rental, because a home that is a full-time tenant's primary residence is taxed on 55% of market value, while nightly or transitory use is taxed on 100%, and that difference changes the loan the rent supports.
The Utah State Tax Commission's primary residential exemption page defines a primary residence as a dwelling occupied as a primary domicile for at least 183 consecutive days in a calendar year by the owner-occupant or a full-time tenant. It says a rental owner must submit a residential declaration signed by all owners, that beginning January 1, 2027 any change in ownership interest requires Form TC-473A filed by September 15, and that a property without a timely application may be taxed at 100% of market value. Utah Code section 59-2-102 excludes transient residential use from residential property, and the Washington County Assessor's FAQ says vacation homes and other transitory housing are taxed at 100%.
New construction adds a step. Section 59-2-102 lets the assessor treat property under construction as residential if it will be used as a primary residence, and the Washington County Assessor's FAQ says newly constructed improvements require an on-site visit from a county appraiser. Do not reuse a seller's or a neighbor's tax bill in the exit model. Rebuild the tax line on the classification the finished property will actually hold.
| Exit line | Flip and sell | Build or rehab, long-term rent | Approved nightly rental |
|---|---|---|---|
| Exit line Tax basis once finished | Flip and sell Buyer's use decides | Build or rehab, long-term rent 55% with tenant and filing on time | Approved nightly rental 100% |
| Exit line Filing that protects it | Flip and sell None for you | Build or rehab, long-term rent Rental declaration and TC-473A by Sep 15 | Approved nightly rental None available |
| Exit line Revenue the refinance counts | Flip and sell Sale price | Build or rehab, long-term rent Lease or market rent | Approved nightly rental Nightly revenue, lender by lender |
| Exit line Term sheet line that matters most | Flip and sell Extension cost | Build or rehab, long-term rent Maturity room for license and lease-up | Approved nightly rental Exit lender's revenue method |
Sources: Utah State Tax Commission primary residential exemption page; Utah Code sections 59-2-102 and 59-2-103; City of St. George approved short-term rental list.
What does Utah law say about the rate on a hard money loan?
Utah law leaves the rate on a hard money loan to the contract, because Utah Code section 15-1-1 says the parties to a lawful written, verbal or implied contract may agree upon any rate of interest, so the comparison you run is the main check on price a Washington County investor has.
The same section sets a legal rate of 10% per annum where the parties do not specify one, which is a default, not a cap. Legal is not the same as fair, so read the default rate, late fees, extension pricing and any minimum-interest clause as closely as the note rate.
How do you get lenders competing on a Washington County hard money loan?
You get lenders competing on a Washington County hard money loan by sending every one the same package, with the contract, a line-item budget, after-repair comparables, the jurisdiction and the exit plan, so each term sheet answers the same question. YieldStack is an AI-native commercial mortgage brokerage that arranges financing for commercial real estate investors.
YieldStack's software matches the project against 20,000+ loan programs, and human brokers then structure the request, negotiate for the borrower and carry the deal toward closing. Every credit decision is made by the lender; YieldStack arranges the introductions and negotiates on the borrower's side, and no loan, rate, or closing is guaranteed.
What to send:
- Purchase contract, address, parcel number and the city or county with jurisdiction
- Line-item budget and schedule, with the general contractor's details
- After-repair comparables and the planned use: sale, long-term rent or approved nightly rental
- For a rental exit, the planned lease and the exemption filing date
- Your track record and the entity that will hold title
- The total dollar cost you are trying to beat, if you already hold a quote
The St. George market hub and the Utah market hub collect our local material; neither is a promise of any particular lender or term. When the rental is finished, the next step is to refinance the rehab loan into a long-term rental loan. When the package is ready, send the deal for review. It costs Zero upfront to submit a deal and review offers; YieldStack's broker fee is 0.50–1.00% of the loan amount and is paid only at closing.
The bottom line
Compare St. George and Washington County hard money lenders on total dollar cost over the real hold, the leverage basis, and draws tied to the lien registry. Then test the exit: nightly revenue counts only on a city-approved property, and a finished rental keeps the 55% tax basis only with a full-time tenant and a timely filing.