BELLEVUE, Wash., February 10, 2020 /PRNewswire/ — Intrust Funding, the Nice view-based hard money lendersproved to be a local favorite among washington state real estate investors.
Since 2009, Intrust Funding has provided hard money loans to real estate investors washington state. Known for its transparency and efficiency, the company outperforms many national and local lenders by funding most investment loans within 48 hours of closing.
Intrust Funding is also known for the ease of its borrowing process. As investors work on repair and return or buy and keep projects, they come to a point in their work where they need money to buy materials or pay contractors. Lenders release allocated portions of these funds in stages, based on the progress of investors’ projects. Many lenders require a construction progress inspection to ensure investors are on task and on target.
The lottery process for Intrust Funding is acclaimed by many in the real estate investment world. Instead of inspections or appraisals, Intrust Funding only requires fifteen photos from borrowers that show their project is within its scope of work. It doesn’t get much easier than this. No inspection and no evaluation, only fifteen photos.
The requirements for making a loan with Intrust Funding are quite simple. Consistent with the industry standard, Intrust Funding makes loans based not on a borrower’s credit rating, but rather on the After Repair Value (ARV) of the investment property an investor is using a loan to provide. hard money to buy and/or rehabilitate. This diverges from conventional lenders who base their loans on the current value of the property in question.
Also an industry standard, a loan from Intrust Funding cannot be used for owner-occupied property. Borrowers should have an exit strategy, either selling the property at the end of the renovation and using the sale to pay off the loan, or refinancing a mortgage and using the refi to pay off the loan.
Intrust Funding does not provide personal loans. Instead, real estate investors use hard money loans from Intrust Funding buy property, or buy property and renovate it. Then they either sell the property or manage the rental property.
Intrust Funding offers loans for both Residential and commercial Properties. While many hard money lenders have separate loans for property acquisition and property rehabilitation, Intrust Funding offers all-in-one loans. This means that, if necessary, the cost of acquisition and the costs of renovation are linked to the same loan, which further simplifies the borrowing process.
In addition, all costs of real estate investment loans from Intrust Funding are embedded in their loans. Borrowers pay only one interest payment each month for the life of their loan, with no prepayment charges or penalties. The typical loan term is between 5 and 12 months, although borrowers are given 2 loan extensions if needed.
Intrust Funding provides quick capital to investors to quickly cover closing costs. With short-term loans, borrowers submit all-cash offers in as little as 48 hours to get the best properties fast. Intrust Funding is revolutionizing the lending industry with its unwavering commitment to efficiency, transparency and integrity throughout the lending process. Intrust Funding offers hard money loans for washington state investment properties only.
If you want learn more about hard money lending and real estate investingbe sure to check out their Class Investor 101. Located in Nice viewIntrust Funding has become a staple of the Washington mortgage sector.
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SOURCE Trust Funding