About USVanta Commercial Lending
Located in, we’re an equity-based lender. We lend hard money for both commercial and residential investment loans in the state of. We work with real estate agents, brokers, and borrowers across the entire state.
As direct lenders, we’re able to make quick decisions on loans, unlike others who may require weeks to make a decision. Anyone can do these easy loans, we prefer to make the decisions on more complicated loans regardless of how complicated they are. If you have a lot of equity, we can find a way to make the loan. We love helping customers that the banks have turned down.
Our rates will vary depending on the particular type of property (apartments, retail, land, warehouses, special purpose, residential, commercial, and office buildings). Factors will also include the term of the loan, the risk assessment, and the financial condition of the person who is borrowing the money. Hard money lenders, on the other hand, may give six to eighteen-month loans and we prefer to do longer loans that we can fund within 7 to 10 days after the appraisal is received and then reviewed.
We base our loans on the equity of the property. We’ll review the income however, it’s not a serious factor. We’re based on assets and we want you to know that you can do this. We’ll work closely with you regarding your payments. We like loans that range from $80,000 to as high as $5,000,000. We love our brokers and will pay out several thousand on a monthly basis for referral fees alone to our brokers and our real estate agents.
At Vanta Commercial Lending, we’ve been investing in both commercials as well as residential real estate in the state of for well over 40 years. With so many years of hands-on experience in financing real estate, we’re confident that we can offer you a loan that will help you to move forward with your purchase or cash out.
Equity Financing May Be The Answer
A lot of borrowers have problems getting approved for financing in the market today. For this reason, we have what is referred to as equity financing or hard money loans. These loans are based upon the equity that is within your home or property in lieu of the credit-worthiness of the borrower. It doesn’t affect the debt to income ratio for the borrower. These loans are quickly approved and easy to procure. They are quickly funded and it typically only takes about 10 days for them to be given after the appraisal.
Hard money loans may help to solve the immediate problem, even if you’ve already been turned down elsewhere. We can help you to make short term loans that will last from one to three years. These loans use real estate equity as the collateral for both commercial or residential investments. The interest rates and lenders fees will all be dependent on the risk evaluation for each individual loan. Lender fees, interest rates, and other fees will be fully dependent on the risk evaluation for each individual loan. If you need fast cash out, give us a call at Vanta Commercial Lending today!
General Loan Guidelines
On average, you can borrow as much as 70 percent of the value of the property. The maximum loan value is typically 65 percent for commercial properties and on apartments, it may soar to as much as 70 percent for residential investment plans.
1st Trust Deeds Only
There will be no 2nds. If there is a credit issue, a bankruptcy, a foreclosure, or a non-resident alien or green card it’s okay. We’ll offer loan purchases and refi’s on both residential as well as commercial properties.
We’ll also issue a letter of Intent within just 24 hours of the loan application.
The funding will take place within 10 days of the appraisal.
All terms are typically from one to three years
Examples of Hard Money Loans
REAL ESTATE ACQUISITIONS
Borrowers who are trying to buy commercial property, residential investment real estate, or land, may find their credit rating will be a contributing factor as well as their income in their ability to obtain a bank loan. Residential investments to purchase a loan in major metro areas of are our specialty. A hard money loan is the ideal short-term solution for a loan. The hard money funding gives you plenty of time to resolve any credit rating issues or debt to income ratio issues that you may have. You’ll still be able to sell the property or obtain commercial funding at a later date.
One of the most frequently requested kinds of loans is improving commercial and residential property. Money is frequently used to help improve the property or to do improvement work for a tenant. At that point, a property may be leased or sold for profit. Hard money offers flexible lending and a quick close.
BANK SHORT SALES AND REAL ESTATE OWNED OR REOS
Short term loans for buying a bank-owned property are easy. We can help to pre-qualify you as the borrower and the property and give the buyer a letter of intent as well as proof of funding that will allow the buyer to close the deal on the property very quickly.
RESIDENTIAL AND COMMERCIAL RE-FI AND CASH OUT
If you’re seeking a short-term solution for a re-fi for a commercial or an investment property, even for a residential property, we can help you. Give us a call today at Vanta Commercial Lending.