Real Estate Hard Money Lender
The real estate industry is fast-paced and moves quickly, and increasingly, some of the best builders and developers in the Washington, DC, Maryland and Northern Virginia areas are being stranded. Unserved by traditional lenders, real estate entrepreneurs are missing out on opportunities as they fail to secure the financing necessary to buy and build. Banks have instituted loan processes that are aggravatingly long and dizzyingly complicated. Even worse, traditional banks may not fully understand the complexities and varying needs of the independent real estate developer.
Enter hard money lending.
Hard money lending can help builders and developers fund their next projects. Typically, hard money loans are made by private lenders and other companies to enable the purchase and improvement of residential and commercial properties. Hard money lenders tend to have fewer borrower qualifications and take less time to close than commercial banks. An asset-based private lender—like Walnut Street Finance—primarily qualifies the loan based on the property’s characteristics and value. Walnut Street Finance also enjoys getting to know the developer and learning more about the developer’s experience and passion for real estate.
Some of the advantages of borrowing from a real estate hard money lender include:
- Quick and Fast Funding – Walnut Street Finance eliminates the red tape and moves quickly to process and disburse loans. Conventional loans take 45 days or more, whereas most of our loans can fund in as few as three business days—sometimes, in a matter of hours.
- Limited and Flexible Underwriting Requirements – Our simplified approval process was designed to qualify real estate entrepreneurs for loans, not keep them from getting the funding they need. When evaluating a project, Walnut Street Finance primarily considers the property’s value and equity, the exit strategy, and the borrower’s experience and enthusiasm for the project. We believe that if no two projects are the same, then the underwriting requirements shouldn’t be either.
- Short Duration and Versatile Terms – A real estate hard money lender can provide loans that match the pace of each project, making such loans ideal for “fix and flip” projects, construction developments, and situations requiring bridge financing. Conventional lenders, meanwhile, seek long-term loans with inflexible terms.
Short-term real estate investment loans get projects financed quickly, so builders and developers can seize investment opportunities, turn profits swiftly, and move on to the next projects. When hard money lending is needed to fund a project, every minute counts. Walnut Street Finance is prepared to assist as the preferred, dependable real estate hard money lender.