If you’re an investor looking to buy residential property in St. Louis, you’ve probably come across the term “hard money loan.” Unlike traditional lending, hard money loans rely on the value of the property—not your credit score. That’s a major advantage for real estate investors who move quickly and want to fund purchases without delays or red tape.
Westre Financial Group, a local and experienced lender, provides exactly this type of loan. In this blog, we’ll walk you through how their system works, what they offer, what they don’t, and why they might be the right choice for you if you’re seeking property purchase loans in St. Louis.
What Are Property Purchase Loans?
Property purchase loans are used to finance the acquisition of real estate. In the hard money space, these loans are backed by the value of the property itself—also known as collateral. That means your credit score or income isn’t the main concern. Instead, if the property deal makes sense financially, the loan can get approved.
At Westre Financial Group, these loans are tailored for real estate investors who know the market and have the funds ready to handle renovations on their own.
Who Are Westre Financial Group?
Brad and Barb Westre have been active in real estate since 1972 and in the hard money lending space since 2001. Over the years, they’ve closed more than 2,650 loans totaling over $143 million. At one point, they owned and managed up to 300 properties and ran a property management company overseeing 850 rentals.
That level of experience puts them in a unique position: they don’t just lend money—they help keep investors out of bad deals. They only loan in St. Louis City and County, which is their area of expertise.
They also don’t rely on outside capital. All loans are funded using their own money, with no borrowed or investor funds involved.
The Loan Process at Westre Financial
Applying for a loan with Westre Financial is straightforward and fast. Here’s how it works:
- Start Online:
The borrower completes a simple application form directly on their website. - Get Pre-Approved:
If needed, a pre-approval letter is provided at this stage. - Property Application:
If you’ve already found a property, a second application is filled out with the relevant property details. - On-Site Visit & Evaluation:
Brad personally visits the property the next day and evaluates it based on four criteria:- Purchase price
- Renovation cost
- Soft charges
- Anticipated selling price (based on local comps)
- Loan Approval:
If the numbers add up and the investor is projected to make a reasonable profit, the loan is approved for 100% of the purchase price. Funding happens as soon as the title company is ready.
What They Don’t Offer
To stay focused and protect both themselves and their borrowers, Westre Financial Group is upfront about what they don’t offer:
- No cash-out refinances: They strictly fund property purchases only.
- No rehab funding: If you don’t have your own rehab capital, they believe you’re not ready for the business.
- No loans in flood plains: The high cost of flood insurance makes these deals unviable.
- No junk fees: They don’t charge for credit checks, appraisals, or processing. The only cost is a 2% origination fee, which is added to the loan.
What Makes Them Stand Out
Here’s what makes Westre Financial a go-to choice for property purchase loans in St. Louis:
- 100% financing of the purchase price
- Fast loan approval and funding
- Personal property evaluations by experienced investors
- No prepayment penalties
- No out-of-state restrictions — Non-Missouri residents are welcome
- All processing is handled in-house
Their deep local knowledge, personal service, and no-nonsense approach are rare in today’s lending market. They’ve seen the ups and downs of real estate and know how to spot bad deals—often saving investors from costly mistakes.
Required Documents
To get started, you’ll need to download and complete two forms from their site:
- Borrower Application (PDF)
- Loan Request Application (PDF)
Key Contact Info
Westre Financial Group
PO Box 411035
St. Louis, MO 63141
They must also be named as the Mortgagee on any property loan they fund.
Conclusion
If you’re looking for fast, reliable, and locally-backed property purchase loans in St. Louis, Westre Financial Group delivers. They offer 100% financing on the purchase price, no junk fees, and personal attention from people who have been in the trenches of real estate for decades.
To get started, visit Westre Financial Group’s website, download the applications, and take the first step toward your next investment property in St. Louis.