Hard Money Loan – Oregon / Washington Get Funded
144

LOAN RATES & TERMS

 

Loan amount:                          $50K to $1M

Interest Rate:                           1% per month

Monthly Payment:                   Interest Only

Maturity:                                 1-month to 2-years

Pre-payment penalty:               None

Extension Fee                          No fees to extend on performing loans

Loan Fee:                                3 points

Doc Fee:                                  $650

Underwriting Fee:                   None

Appraisal:                                Not Required                          

Closing Costs:                        Paid by Borrower

Closing:                                   Within 3–10 business days

 

TYPES OF BUSINESS PURPOSE LOANS 

  •       Purchase / Refinance
  •       Single Family, Non-Owner Occupied
  •       Rehab Projects / Flips
  •       Apartments and multi-unit dwellings
  •       Small Commercial buildings

LOAN TO VALUE

  •       Typically 60% to 80% of purchase price
  •       100% LTV loans available with additional collateral

LOAN PROCEDURE

  1. Loan Application – Borrower completes a 2-page loan application 
  2. Submit Purchase and Sales agreement required for purchases.
  3. Loan Commitment – NWPL generally makes loan decisions with specified loan terms within 48 hours of application.
  4. Open Escrow and obtain Preliminary Title Report on subject property/properties.
  5. Confirmation of property insurance and legal documents drafted
  6. Closing – Most loans close within 2 to 3 business days after receipt and approval of Preliminary Title Report.
Loan Category : Real Estate Lenders
Company : Northwest Private Lending
Phone Number : 503-941-5473
Email Address : 335
Address (Street, City, State, Zip) : 5335 SW Meadows Road, Suite 380, Lake Oswego, OR 97035
Website : https://www.nwprivatelending.com/about-us
License# : NMLS # 1522364 / ML # 5496
Broker Co-Op : Yes
Lender/Loan Type : Direct Lender, Investor, Hard Money, Private Lender, Portfolio
Loan Purpose : Purchase, Cash-out Refinance, Bridge, Fix/ Flip, Cross-Collateralize, Note Purchase, 1031 Exchange, Mezzanine, Foreclosure Avoidance, Gap Financing
Property Types : Multifamily (5+ Units), Religious Uses, Residential (1-4 Units), Office (Building, Condo, Complex, etc.), Senior Housing, Affordable Housing
Min. $ Amount : $25,000
Max. $ Amount : $1,000,000
Max. Loan to After Repair Value : 65%
Max. Loan to Cost : 80%
Max. LTV : 80%
Occupancy : Investment Property, Non-owner Occupied
Starting Interest Rate : 12.000%
Maximum Interest Rate : 14.000%
Rate Type : Interest Only (Fixed Rate)
Borrower/ Entity Type : Individual, Limited Liability Company, Corporation, Limited Partnership, Trust, Individual Retirement Account, Foreign National
Term : Less than 6-months, 6-months, 1-year, 2-years
Minimum FICO : 450
Credit History : Bankruptcy, Foreclosure, Late Mortgage, Collections/ Charge Off, Judgments/ Liens
Documentation : Alternative Documentation
Minimum Origination Fee : 3.00
Maximum Origination Fee : 4.00
Prepayment Pentalty : No
Environmental Report Required : No
Appraisal Required : No
Default Remedy : Non-Recourse
Lending Territories
Oregon
Washington
Related Listings