Are you a real estate investor in St. Louis looking to seize financial opportunities rapidly? Wholesale hard money lenders like Westre Financial Group in St. Louis can be your key to success. But why are these lenders so crucial for investors, and how do they operate? Let’s dive in and uncover the details.
What is Hard Money Lending?
Hard money lending is a financing method based strictly on collateral rather than the borrower’s creditworthiness. If the collateral makes sense, the loan gets approved. This type of lending is ideal for real estate investors who need quick access to funds to secure lucrative deals.
Why Choose Wholesale Hard Money Lenders in St. Louis?
Westre Financial Group, led by Brad and Barb Westre, has been the cornerstone for hard money lending in St. Louis since 2001. With over 2650 loans totalling over $143,000,000, their expertise is unmatched. They provide 100% of the purchase price loans with no junk fees, making them the go-to choice for investors.
How Does the Lending Process Work?
The process with Westre Financial is straightforward:
- Initial Consultation: Start by completing the borrow application from their website.
- Property Evaluation: If a property has been identified, submit the property application and proof of rehab funds.
- Site Visit: Brad visits the property to evaluate the purchase price, renovation cost, soft charges, and anticipated selling price.
- Approval and Funding: If the evaluation is favorable, the loan is approved for 100% of the purchase price and funds as soon as the title company is ready.
This streamlined process ensures you get the funds you need quickly, allowing you to act on profitable deals without delay.
Specialized Lending for St. Louis Wholesalers
Westre Financial’s specialized lending products cater directly to the needs of local wholesalers:
- Bridge Loans to Fund Acquisitions: Quick access to funds for purchasing properties.
- Inventory Lines to Carry Properties: Flexible financing to manage multiple properties.
With average turnaround times from term sheet to funded loan between 5-7 days for pre-approved deals, you can stay ahead of the competition.
Personalized Rates and Terms
Westre Financial offers competitive rates and terms tailored to your needs:
- Inventory Lines: Up to 80% LTV at 8-11%
- Bridge Loans: Up to 75% LTV at 6-9%
These terms provide the flexibility and affordability you need to maximize your investment returns.
Leveraging Local Expertise
With over 20 years of experience in the St. Louis market, Westre Financial provides invaluable insights to help you succeed:
- Neighborhood Market Analysis: Detailed data on valuations, permit patterns, and housing trends.
- Proprietary Opportunity Matching: Access to on- and off-market properties that fit your investment criteria.
- Extensive Referral Networks: Connections with agents, brokers, sellers, rehabbers, and cash buyers.
This comprehensive support helps you navigate the local market efficiently and effectively.
FAQs
1. What are the main advantages of wholesale hard money lenders in St. Louis?
Wholesale hard money lenders like Westre Financial Group offer quick access to funds, competitive rates, and a straightforward approval process. Their local expertise and extensive network help investors secure and profit from lucrative deals rapidly.
2. How fast can I get funding from Westre Financial Group?
Westre Financial typically completes the funding process within 7-10 days. This includes initial consultation, deal review, approval, and closing.
3. What type of properties does Westre Financial lend on?
Westre Financial specializes in residential rental properties in St. Louis city and county. They do not lend on properties in flood plains or provide rehab funds.
4. Are there any additional fees involved in the loan process?
Westre Financial charges a 2% origination fee, which is added to the loan. There are no junk fees such as credit checks, appraisal, processing, or application fees.
5. Can non-Missouri residents apply for loans with Westre Financial?
Non-Missouri residents are welcome to apply for loans with Westre Financial Group. The process and terms remain the same, ensuring a smooth experience for all investors.
Conclusion
Your financial potential with Westre Financial Group, the leading wholesale hard money lenders in St. Louis. With their expertise, you can secure funding quickly and efficiently, allowing you to capitalize on profitable real estate opportunities. Contact Westre Financial today to start your journey toward investment success.