Hard Money Loans
Due to the booming real estate market, more and more investors have been flocking to Virginia in the past few years. Unfortunately, many real estate investors have trouble securing the financing they need through conventional lenders. Most traditional lenders, such as banks, already have strict lending guidelines that make it difficult for real estate investors to qualify. Their lending guidelines tend to be more rigid because they are more risk-averse.
Additionally, they typically sell their loans to third parties, like Fannie Mae and Freddie Mac, which further limits their ability to work with investors.
Fortunately, another type of lender has become increasingly popular in recent years: portfolio lenders. Portfolio lenders are lenders that keep the loans they originate on their own books. Doing so allows them to be much more flexible with their lending guidelines. As such, portfolio loans are often the perfect solution for real estate investors in Virginia.
We have streamlined our portfolio loan process over the years to make it as efficient and hassle-free as possible. However, because the approval process can take a bit of time due to the nature of portfolio loans, we want to be as transparent as possible so that our clients know what to expect. With that in mind, the following is a brief overview of our process:
The first step is to communicate your investment needs with us. We understand that every real estate investor has different goals, and we want to ensure that we understand your specific needs. So we’ll ask you about your investment goals, timeline (including your exit strategy), and other relevant information.
Once we have a more complete understanding of your needs, we’ll begin the process of approving your loan. First, we’ll evaluate your investment property and assess its value and your ability to repay the loan. We’ll also take a closer look at your investment goals to ensure that our loan terms align with your plans.
After we’ve approved your loan, we’ll send you an offered term sheet. This document will outline the terms of our loan offer, including the interest rate, loan amount, term length, and other vital details. We want you to have all the information that you require to make an informed decision about our loan offer.
If you’ve decided to accept our loan offer, we’ll begin the process of ordering appraisals and title work. These steps are critical to the approval process, as it helps to ensure that the property’s value matches the loan amount and that there are no outstanding liens or encumbrances on the property.
If you’re an investor in need of financing for a real estate project, you’ll find a partner in Pine Financial Group. We’re a portfolio lender that specializes in loans for real estate investors, which means that we can offer the following:
Here at Pine Financial Group, we are less concerned with conventional lending standards, such as credit histories or credit scores. Instead, we focus on your investment property’s value and ability to repay the loan. In addition, because we keep these loans in our portfolio, we can also provide more flexible financing options to help meet your specific needs.
We know that time is of the essence when it comes to real estate investing. That’s why we’ve streamlined our approval process to be as efficient as possible. Although it depends on how quickly an appraisal can get done to close, we can approve your loan much quicker, so that you can get your project off the ground sooner.
We don’t believe in charging our borrowers hidden costs, such as prepayment penalties. Instead, we’re upfront about the rates and fees associated with our loans. We also offer competitive interest rates to help our borrowers save money.
We’re not here to make a quick buck. We’ve earned a reputation as one of the most trusted lenders in the industry because we always put our borrowers first. We strive to build long-term relationships with real estate investors. As such, not only are we fully transparent about our process, but we’re also here to help you every step of the way.
Our goal is to make the borrowing process as straightforward as possible. We’ll never leave you guessing what steps to take next or what documents you need to provide. Instead, we’ll walk you through the entire process, step-by-step, so that you can focus on what’s important – your real estate investment.
If you’re interested in learning more about how portfolio loans can help finance your real estate investment in Virginia, we encourage you to book a consultation with one of our loan specialists. We’ll be happy to answer any of your questions and help you better understand the process. We know that financing a real estate investment can be complicated. Still, we’re here to help make it as easy as possible for you, so book a consultation to get started today!