For real estate wholesalers in St. Louis, having reliable funding can make the difference between closing a profitable deal or missing an opportunity. Securing loans for wholesalers in St. Louis is a straightforward process when you work with a direct lender like Westre Financial Group. With over two decades of experience and a proven track record, Westre Financial provides wholesalers with an efficient and cost-effective loan process.
Understanding Hard Money Loans for Wholesalers
Hard money loans are an ideal funding source for wholesalers because they focus strictly on the value of the property, not the borrower’s credit history. If the collateral (the property) makes sense, the loan is approved. This collateral-based approach means faster decisions and fewer hurdles, allowing wholesalers to act quickly when a good deal appears.
Westre Financial Group specializes in hard money loans in St. Louis City and County. With more than 2,650 loans totaling over $143 million, they have the experience needed to guide investors and wholesalers through purchasing and renovating residential rental properties.
The Loan Application Process
Securing a loan from Westre Financial Group is simple and efficient. The first step is to complete the borrower application available on their website. If a borrower needs a pre-approval letter, it is provided once the application is submitted.
When a specific property is identified, the next step is completing the property application. Along with the property application, the borrower must submit proof of funds necessary to complete any rehabilitation work. Once all documents are received, Brad Westre personally visits the property to evaluate four key factors:
- Purchase Price
- Renovation Cost
- Soft Charges
- Anticipated Selling Price based on comparable sales
If the evaluation shows that the borrower is likely to make a reasonable profit, the loan is approved for 100% of the purchase price. Funding is released as soon as the title company is ready.
Key Requirements and Conditions
Westre Financial Group has a clear set of guidelines to ensure the quality of their loans. They only fund properties located in St. Louis City and County, areas where they have deep expertise. It is important to note that they do not provide funds for renovations. In their view, if a borrower does not have the money for rehab, they should reconsider entering the business.
Another restriction is that they do not loan on properties located in floodplains due to the prohibitive cost of flood insurance. Additionally, borrowers should know that the only fee involved is a 2% origination fee, which is added to the loan. There are no junk fees such as credit check fees, appraisal fees, processing fees, or application fees.
One requirement is that Westre Financial Group must be named as the Mortgagee in the loan documents. The clause should state: Westre Financial Group, LLC, PO Box 411035, St. Louis, MO 63141.
Why Choose Westre Financial Group
There are several reasons why wholesalers looking for loans in St. Louis should choose Westre Financial Group:
- Low cost financing
- Fast and reliable funding process
- Loans covering 100% of the purchase price
- No junk fees
- Open to non-Missouri residents
- All loans processed in-house
- No prepayment penalties
Their in-house processing ensures faster turnaround times and a streamlined experience. With no outside investors or borrowed funds involved, Westre Financial offers stability and reliability that many other lenders cannot match.
Staying Ahead in Wholesale Real Estate
Speed and certainty are critical in wholesale real estate deals. Having a dependable lender who understands the local market gives wholesalers a competitive edge. Westre Financial’s straightforward approach helps investors avoid bad deals while securing the funding they need without unnecessary delays or extra costs.
Their deep knowledge of the St. Louis market, combined with their practical lending criteria, means that wholesalers can move forward confidently knowing their lender is experienced and committed to their success.
Conclusion
When you need fast, reliable loans for wholesalers in St. Louis, Westre Financial Group stands out as a trusted partner. Their no-nonsense approach, unmatched experience, and commitment to investor success make them the go-to choice for serious real estate investors. Ready to get started? Visit Westre Financial Group today and take the first step toward funding your next deal.