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Private money, used primarily for asset based lending secured by real estate; short-term “bridge” lending (bridges gap between now and event which will pay off loan).
We have Private Lenders that lend Nationwide. Most have lending criteria's that will specify where they lend and some are specific to their state only.
LTV can be up to 65-75% of the After Repaired Value (“ARV”) on Rehabs. Land loans can be up to 25-60% LTV depending on location and all other loans can be from 50-80%.
Loan terms will depend on the project and property type itself but some terms can go up to 5 years.
he ARV is estimated by averaging recent comparable sales in the immediate neighborhood. We typically utilize comparable sales that are arms-length transactions with conventional financing, not foreclosures, short sales, or other distressed sales.
Yes, the third party fees are title, appraisal, and legal.
In the real estate financial industry, private money refers to the funds an individual lends to real estate entrepreneurs to fund their deals in exchange of a return on their investment. Private money lending is a win-win transaction that allows real estate entrepreneurs to close their deals while generating returns for investors.
We commonly close loans in 5 to 14 days from Complete application to closing. This is determined by financing request type and complete participation on the clients part and third party documents.
All types of properties.
Our loan pricing is fair and comparable in our industry and our service level is higher. Exact pricing will be quoted up-front after we determine the specific loan program and details of the loan you need.(NO junk fees or hidden closing costs).