How can Westar Lending Group assist realtors and their clients with a real estate loan?
In todays world many potential borrowers looking to purchase a new home are under the impression that they can get a loan from their bank, but so often, they are shocked to find out they can’t, due to credit or income issues. Westar Lending Group offers real estate hard money loans that allow for credit and income issues that the big banks don’t allow. If there’s a way to get the buyer financing we will!
What information does a realtor need to provide for their client?
We just need the parameters: what is the buyer trying to do, such as purchase price and the intended down payments. The “deal points” can then be matched with the borrower’s credit and income to determine if the requested real estate hard money loan can be funded.
What are the interest rates and terms for a real estate hard money loan?
We offer many different real estate hard money loan programs, so we’re not a “one size fits all” lender. As with all lending, be it a real estate loan or any other type of loan, the better the credit and income the better the interest rate. Our interest rates range from 6%-12% and our loan terms range from 1-30 years, based on the type of loan program requested.
Does Westar Lending Group need to speak with the realtor’s client?
Yes. It is our preference to speak with and further work with every client to best assist them in obtaining real estate financing.