Phone: 240-436-2340
Maryland Hard Money Lenders. Private Loans in Maryland, Virginia & Washington, DC
The next time you’re flying over Dulles or Ronald Reagan airports, glance out the window. If the sky is clear, you’ll see the landscape below. You may notice clusters of homes in neat squares. Plus, you can spot patches of green farm fields or skyscrapers. Essentially, the view from an airplane window is a visible clue to understanding zoning.
Yes, Jerome Powells, when a tray of sushi goes up in price by 20% in two weeks, it’s time to drop “transitory” as a description of the inflation we are living through. “Shocking” might be a better term for someone trying to feed a family. Or, perhaps, “befuddling,” if you are a real estate investor trying to decide on your strategy for the next year. So let’s talk more of what “befuddles” the experts and the novices alike: How the DC real estate market will stand up to inflation? Perhaps more importantly, is it still possible to make money investing in it in 2022?
urb appeal. It’s one of the first things that rehabbers consider when purchasing fixer-uppers in the local real estate market – Washington D.C., Maryland, Virginia, and Delaware. A home’s outward appearance factors into investment decisions. When purchasing a house as an investment property, it helps to know the residential architectural style. The style of a house creates its look and feel. It also influences the price it can fetch before and after the renovation. Residential architectural styles vary greatly, based on the home’s age, price, and location.
In the world of mortgage lending, a good credit score ups the chances of qualifying for a conventional mortgage. Essentially, a high credit score shows that the borrower has a history of paying bills, repaying loans, and maintaining past and current accounts. Credit scores range from 300-850. Generally, a score of 670 or above is a good score.
Compared with traditional lenders, some hard money lenders are more willing to work with investors with poor credit. For example, New Funding Resources doesn’t require a minimum credit score for loan approval. We look beyond credit scores to make our underwriting decisions – but we do look at the scores. You should, too.
At first glance, the term “short sale” invokes thoughts of a quick turnaround time in a real estate transaction. For example, a house in Washington D.C. goes on the market one day, and buyers hastily write offers the next. While this seems like a logical interpretation, a short sale actually has nothing to do with the time it takes to sell a real estate property.
Instead, a short sale refers to being “short” on money, specifically on the amount needed to pay the seller’s mortgage in full.
Many private lenders base their loans on the after-repair value of the home. An efficient and orderly renovation process is essential to reaching that value. This is why private lenders often hold the construction budget in escrow. By releasing this budget to the borrower in a series of draws, they ensure that the renovations are indeed taking place. The document that governs that process is called a draw schedule.
In private lending, a draw schedule is an agreement between a borrower and a lender on how to manage construction reserves held by that lender. It documents:
Home
What We Do
Who We Are
Hard Money Lenders
Private Mortgage Lending
Private Money Lender
Our Loan Programs
Our Process
Tools & Resources
Get Approved
Mortgage Brokers
Real Estate Agents
Capital Investors
Funded Loans
Contact Us
Sitemap
New Funding Resources, LLC
806 West Diamond Ave.
Suite 340
Gaithersburg, Maryland 20878
Phone: 240-436-2340
All loans subject to our review of underwriting criteria and conditions. We reserve the right to approve or deny any loan application based on our sole discretion.
New Funding Resources 