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Short Term Loans With Attractive Propositions
Walnut Street Finance, a premier private money lender in Washington DC, offers real estate investors a variety of short-term loans with attractive options. Focusing on small and mid-sized players in the real estate industry, the company’s extensive background as a builder and developer themselves positions them with a significant advantage in the short-term funding market. “Developers and real estate builders are investing huge sums of money and time on their projects. Such real estate investments can go sideways for many reasons. Our experience as a developer enables us to not only structure the loans in the best interests of our customers but also to guide them whenever necessary so that their project is completed successfully on profitably”, quotes the founder of Walnut Street Finance, Bobby Montagne, Jr.
Walnut Street Finance offers to fix and flip loans with minimal paperwork and aims to close loans quickly, usually within a few days. Loan approval is primarily based on the viability of the project and market conditions. Even if the borrower’s credit situation is not perfect and would disqualify them from a loan from a big bank, Walnut Street Finance does not see it as a criteria for denying the loan. The borrower is expected to contribute at least 20% equity towards the project.
Construction loans are provided to clients for a term period of 6 months to 2 years. This is the longest term loan offered by Walnut Street Finance and the borrower only pays the interest on the loan during this time period. Loan disbursement is delivered in installments, based on a set of predetermined milestones. The borrower only needs to repay the loan amount once the construction is complete and the property is either refinanced by a bank or sold to a buyer. Walnut Street Finance offers construction loans for all types of projects, whether it be building a property from scratch, demolishing and renovating the interiors of a property or any other project.
Real estate acquisition loans are offered by the company at flexible payment terms and are calculated by taking into consideration the profitability of the project and the financial position of the client. As with fix and flip loans, a borrower is expected to put up 20% of the amount as down payment. In all possible situations, the company aims to provide quick loan approval so that borrowers do not miss out on a hot real estate opportunity. Even if the borrower does not have a good credit score, the company says that it will still consider the application and take into account the value of the properties.
The development and land loans offered by the company enables developers to quickly secure the funding they require to outfit a parcel of land for development. Land and development loans are used by developers to buy raw land and then perform “horizontal” site improvements such as subdividing, leveling and installing utilities. Land developers most commonly sell the developed land to builders but can convert to a construction loan and build themselves.
Walnut Street Finance also offers bridge loans to prospective clients, as well. Funding of bridge loans can occur within few days, unlike the usual 30-45 day approval period of traditional big banks. Short-term bridge loans can “bridge the gap” and help the borrower purchase another property or even a business by leveraging (non-owner occupied) real estate already owned.
The company aims to make it easier for small to medium-sized builders and developers to obtain financing for their projects so that their real estate investment project moves forward smoothly with minimal to no financial complications. “We have over 20 years of experience in this field and are committed to ensuring that we provide our clients with the best financing option, but that we become their trusted lending partner for all their short-term funding needs”, says Bobby Montagne Jr, founder of Walnut Street Fina ...
News Release: Short Term Loans With Attractive Propositions
Submitted on: April 21, 2017 12:32:43 PM
Submitted by: Bobby Montagne
On behalf of: walnutstreetfinance.com/