We are providing the following proposed Questions & related Answers, so Real Estate Brokers and Agents can become more familiar with the Loan Programs our company offers in their quest to best to assist their Borrower/Clients with their real estate financing needs.
How can Westar Lending Group assist Realtors and their Clients?
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, many potential Borrowers are shocked to find out they can’t, due to Credit or Income issues. Our company offers alternative lending options that allow for Credit & Income issues that the Big Banks don’t allow. If there’s a way to get the Buyer financing we will, and everyone wins!!!!
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 & Income to determine if the requested loan can get funded.
What are the Interest Rates and Terms for a Hard Money Loan?
Our company offers many different lending 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 & Income the better the interest rate. Our company’s Interest rates range from the as low as 6% to as high as 12%. Our company’s loan terms range from “1” year up to “30” years, based on the type of loan program.