Quick, reliable funding is essential to close deals in real estate investing. Traditional bank loans often take too long and have strict requirements, which can frustrate investors looking to move quickly.
That’s where Westre Financial, a trusted hard money lenders in St. Louis, comes in. Specializing in fast, collateral-based loans, they provide an alternative to traditional lending that allows you to secure funds based on the value of your property, not your credit score.
With over 20 years of experience and more than 2,650 loans completed, Westre Financial offers unmatched expertise to investors in St. Louis city and county. Whether a seasoned investor or starting, Westre Financial can help you unlock new opportunities by providing fast and reliable hard money loans.
Ready to find out how they can support your next real estate investment? Keep reading to learn more.
What Are Hard Money Loans?
Hard money loans offer a practical and fast solution for real estate investors. Unlike conventional loans, hard money lenders in St. Louis don’t base their decisions on your creditworthiness. Instead, the focus is on the property’s value you plan to invest in. Essentially, your collateral—the property itself—serves as the guarantee for the loan.
Westre Financial has led the way since 2001, offering investors the funds they need without the red tape and delays typical of traditional lenders. With over 2,650 loans completed, they bring both experience and efficiency to the table.
Why Choose Hard Money Loans Over Traditional Loans?
Traditional loans often involve lengthy approval processes and a laundry list of requirements, which can be frustrating when trying to close a real estate deal quickly. In contrast, hard money lenders in St. Louis like Westre Financial offer swift approvals based on property value alone.
- Fast Approval: Unlike bank loans that take weeks or months to finalize, hard money loans can be approved in just a few days.
- Less Emphasis on Credit: If you’ve struggled with your credit score, hard money loans may still be an option. The property’s value is the primary factor.
- No Rehab Funds Required: Westre Financial specializes in loans that cover 100% of the purchase price, making it easier for investors to secure properties.
How Does the Hard Money Loan Process Work?
Working with hard money lenders in St. Louis through Westre Financial is simple. Here’s a breakdown of how their loan process works:
- Initial Application: Investors fill out a borrower application online. At this stage, a pre-approval letter is provided if needed.
- Property Application: Once you’ve identified a property, you complete the property application, including proof of rehab funds if necessary.
- Property Evaluation: Brad Westre inspects the property, evaluating its purchase price, renovation cost, and potential selling price.
- Loan Approval: If the property is profitable, your loan is approved, covering 100% of the purchase price. The process is designed to ensure that investors only engage in deals likely to be successful.
The Advantages of Choosing Westre Financial
Why should you work with Westre Financial? With over 20 years of experience as hard money lenders in St. Louis, they deeply understand the local real estate market. They are committed to helping investors avoid bad deals.
No Junk Fees
Unlike many lenders, who charge fees for credit checks, appraisals, and processing, Westre Financial charges only a 2% origination fee, which is added to the loan. There are no hidden costs, just clear terms.
Local Expertise
Westre Financial exclusively offers loans in St. Louis city and county. Their extensive knowledge of this region ensures that you’re making informed investment decisions.
Quick Funding
Speed is essential in real estate, and Westre Financial delivers. They fund their loans with in-house money, meaning outside investors do not need approval. This allows you to close deals faster.
Flexible Terms
For non-Missouri residents looking to invest in St. Louis, Westre Financial welcomes you. They offer flexibility to out-of-state investors, which expands opportunities for those looking to diversify their real estate portfolios.
FAQs
- What exactly is a hard money loan?
A hard money loan is a short-term loan secured by real estate. It’s primarily based on the property’s value rather than the borrower’s financial history.
- Who should consider a hard money loan?
Real estate investors who need quick access to funds or have less-than-perfect credit are ideal candidates for hard money loans.
- How fast can I get funding from hard money lenders in St. Louis?
With Westre Financial, you can expect funding within days after your property is evaluated and the loan is approved.
- Do hard money loans cover rehab costs?
No, Westre Financial does not provide loans for rehab costs. Investors are required to have their funds for renovations.
- Are there any geographical restrictions?
Yes, Westre Financial only lends within St. Louis city and county. This allows them to focus on areas where they have the most expertise.
Conclusion
In real estate, securing the right funding can often be the difference between closing a deal or missing out. Westre Financial stands out among hard money lenders in St. Louis by offering fast, reliable loans backed by over two decades of industry experience.
Their commitment to providing 100% financing on property purchases, without hidden fees, ensures that investors can focus on their deals rather than worrying about complex loan terms. By choosing Westre Financial, you’re getting a lender and a partner who understands the St. Louis real estate market inside and out.
Whether you’re a local investor or from out of state, their expertise and dedication can help guide you to successful investments. Ready to unlock new opportunities with a trusted lender? Consider Westre Financial, your reliable partner in securing hard money loans for your next venture.