Finance Your Real Estate Investment with a Washington Hard Money Loan
Success in real estate doesn’t just happen. Investing requires persistence, planning, financial preparation, and consistent access to funds.
Private money loans, also known as hard money loans, are a great financing option for real estate investors when conventional lenders say no. If you’re self-employed, have less-than-perfect credit, have filed for bankruptcy, or own a property that doesn’t meet traditional lending guidelines, a hard money loan can help provide needed cash.
These asset-based, direct-funded loans focus on property value rather than credit or employment history. Simplified documentation and quick closings make private money lenders a smart go-to when investment opportunities arise and time is of the essence, especially in competitive markets like Washington State.
How does the private money loan process work with leading Pacific Northwest lender Gregory M. Russell? Here’s what to expect:
How Our Private Money Loans Are Made
- Loan Approval: Our loan decisions are based on sufficient equity, not your credit or income. We loan up to 50% of the value of your property. For purchase loans, borrowers must contribute the other 50% down, plus closing costs. Our loan minimum-maximum is $25,000-$400,000.
- Property Value: A property’s current market value is determined by reviewing comparable property sales. We inspect properties to assess their condition and may order an appraisal.
- Poor Credit: We understand a bad credit rating can be temporary. We qualify borrowers based on their available equity and repayment plan, not credit history.
- Property Types: We loan on any type of property, including residential, rental, mobile/manufactured homes, commercial and industrial properties, as well as lots, acreage and land. (We do not lend on mobiles in a park or occupied properties.)
- Rates & Terms: Our interest rates and terms are highly competitive within the hard money loan industry. Each lending scenario is unique, so contact our team to learn more. We’ll tailor a loan to your needs.
- Penalties: We do not impose penalties for paying your loan off early.
- Turnaround: Our loan process is fast and hassle-free, with minimal paperwork. Approval generally takes about a week and you’ll receive your money within approximately ten days.
Talk to Our Washington Team About a Hard Money Loan
We have been making equity-based private money loans to Washington real estate investors for over 30 years. Call our Gregory M. Russell lending team at 1-888-477-0444 to learn more about our hard money loan services. We’ll help you achieve your investment goals with a customized loan!