We've Got Just the Right Short term loan For You!
Here at Localprivatelenders, we offer different short term loans for your real estate deals. We provide a variety of programs that can fit any investment strategy. If you are an experienced real estate professional or a first timer, you can benefit from our experience and excellent service.
Our services
we ensure you get
Fast Approval
Traditional loans takes several months to close. We can do it in less than a week
Terms that fit you
Flexible loan terms, no prepayment, asset based lending criteria
Up to 80% LTV
Funding available for all short term loans- bridge, transaction, commision advance
How it works
Ready to Get Funded?
follow these simple process
We ensure the process is simple and straight to the point for all our loan programs. Here are the few steps you neeed to take
Apply
Complete and submit the Initial Loan Application. Once submitted, your Initial Application will be quickly reviewed by our pre-approval team and you will be told what loan terms can be offered in your particular situation. If appropriate, we will issue a Letter of Intent and/or Loan Commitment based upon the facts of your Initial Application. If you are not an appropriate candidate for a hard money loan, or we cannot help you, you will be told that immediately.
documentation
If you are preliminarily approved, we will ask you to provide additional information and documentation to complete the loan process.
Valuation and title
Upon receipt of all documentation, title to the property will be ordered and examined and, if required, an appraisal and/or property inspection will be ordered. The appraiser or inspector will contact you directly to set up a day and time for inspection.
Check out the list of our loan programs
transactional funding
We offer you offers you easy, hassle-free and affordable 100% financing. These are private, one-to-three-day bridge loans for short sales, foreclosures, REOs, FSBOs, HUD, flips, commercial, residential, and Realtor® (MLS) listed properties.
Bridge Loans
You have an ongoing project which needs to be funded but expects an inflow which may take few months to come in? We are here for you. Apply and get funding for such projects immediately.
Fix and flip loans
As an investor looking to finance his next purchase, we offer loans for your fix and flip purchases. We give you access to capital in a matter of days, not weeks or months.
we offer you the best funding for your deals.
- 100% of all Real Estate accepted
- No upfront costs or contracts
- Asset-based lending criteria
- Loan amounts from $30k
Do You Have Any Questions? Read Our FAQs Section and Feel Free to Ask
A hard money loan for new construction is a short-term loan used to fund the construction of a real estate investment property. A part of the funds are allocated at closing to finance lot purchase, as with most hard money loans for building or improvements, and the remainder is kept in escrow. The escrow funds are allocated in arrears or after certain phases of the scope of work are finished. The scope of work is used to construct a draw plan, which specifies when and how much work will be done at what point of the project.
The process of securing a hard money construction loan is much different than that of a conventional mortgage. Unlike a conventional loan, which requires a significant amount of paperwork, a new construction loan requires relatively light documentation. Once you have completed the new construction loan application, the loan officer and underwriter will review the deal with you and order an appraisal if the deal fits!