Private lending companies have become a popular alternative to traditional banks for individuals and businesses seeking financing options for investment properties. Unlike banks, private lending companies have more flexible lending criteria and can offer faster loan approvals.
At Investor Loans Express, we provide a one-stop shop that underwrites, approves, commits, and funds loans. Here are three things to consider when working with private lending companies:
- Higher Interest Rates and Fees. While it’s true that private lending companies charge higher interest rates and fees than traditional banks, our rates are based on several factors, including asset class, leverage, borrower experience, term requested, and credit score.
- Reputation and Credibility. Before working with a private lending company, it’s crucial to do your research. Our founder has over 35 years of experience in financial services. We are upfront with potential borrowers and will approve or deny a loan in as little as a few hours but always less than 24 hours. Our founder is a licensed real estate broker who can help buy or sell a property.
- Loan Terms and Conditions. Like other private lending companies, we offer more flexible loan terms and conditions than traditional banks. We also provide loans tailored to real estate flipping, purchasing short-term rental properties, and other real estate investing opportunities.
Call us if you want a direct lender in Upstate New York who works with real estate investors and offers various loan programs. We make it easy for investors to get the funding they need.