Why do people use Hard Money Lenders?
People use Hard Money because many real estate investors need quick responses and funding to secure a deal. Traditional lenders, such as banks, generally are not very good at this and can take a lot of your time and effort. Investors normally use Loan Wolf Capital in cases when they either do not have the time, credit, or patience to deal with a traditional bank. Real estate investors can also leverage their money to complete multiple projects by closing quickly. This is also typically much cheaper than teaming up with an equity partner as our costs are fixed throughout the life of the project.
What are some of the advantages of using Loan Wolf Capital?
Working with Loan Wolf Capital will provide you with many advantages:
A much less complicated application process is required for the lender to make a final loan decision.
No credit checks, personal financial statements, tax returns, etc. We underwrite based on the asset only.
Fast approval and funding. Loan Wolf Capital will review your application and provide you with a loan quote within 24 hours!
What types of transactions are handled?
Loan Wolf Capital will lend on non-owner occupied investment real estate properties.
Do you work with brokers?
Yes, feel free to contact us to discuss how we can work together.
Do you only lend in Tennessee?
Yes, but our sister company does lend in Texas too.
How long are the loan terms?
What is the maximum loan amount?
Loan Wolf Capital generally targets loans between $15,000 and $2,000,000.
What is a point?
A “point” is an upfront fee on a loan that is paid directly to the lender. Each point costs 1% of the loan amount.
Are there minimum credit requirements to obtain a loan?
No, Loan Wolf Capital lends money based on the value of the asset. We typically do not run credit checks, and your credit score will not be used to determine whether you are qualified for a loan with Loan Wolf Capital.
What is the down payment requirement?
This will depend on the ARV (After Repair Value) of the home. We typically lend 70% of the ARV so the stronger the value, the less money you have to come to closing with, if any at all.
What is the maximum LTV?
Loan Ranger Capital bases Loan To Value (LTV) calculations on our in-house valuation of the property. The maximum LTV in most cases is 70%.
How quickly can you close?
Because all of our underwriting is done in-house, we can fund your loan in as little as 3 days if all parties are prepared.
Will you lend rehab money?
Do you charge prepayment penalties?
Do you require insurance?
Yes, we require hazard and title insurance on each property that we lend on.