Have a potential flip in Bowie, MD? Call the best hard money lender in the area at 240-436-2340!
Located in the heart of Prince George’s County, Bowie has recently been named to MONEY’s Best Places to Live in the US. Bowie joins the other 100 places around the country where the quality of life is good and the housing is affordable. In addition, Bowie has received several other recognitions in 2019 including being selected as Maryland’s Best City by USA Today, which cited Bowie’s well-educated population, low poverty rate, and easy access to high paying jobs.
Bowie is also a great place to grow your wealth by flipping real estate or by becoming a landlord. Over the years it enjoyed steady appreciation rates: Bowie home values have gone up 2.4% in 2018 and Zillow predicts they will rise 0.8% within the next year. The median list price per square foot in Bowie is $180, which is lower than the Washington-Arlington-Alexandria Metro average of $235. The median price of homes currently listed in Bowie is $375,000 while the median price of homes that sold is $350,000.
Over the years, our private hard money loans funded many successful flips in Bowie and surrounding areas. If you’re looking for local hard money financing for your next residential or commercial property renovation project in Bowie, contact New Funding Resources today!
Our Hard Money Loans in Bowie Deliver:
We work fast. If you identified a potential investment property in Bowie we can provide pre-approvals in as few as 24 hours and can fund your hard money loan in 5 days or less.
We look at your Bowie’s rehab holistically. Our proprietary underwriting criteria focus on your deal’s potential, not your credit or income.
Our hard money loans in Bowie are designed to keep your costs low and help maximize your profits.
Our team of local experts is focused on ensuring a smooth closing and timely support of your renovation project.
As the top hard money lender in Maryland, we know the local market inside out and have boots on the ground to make your rehab a success.
Peace of Mind
In business since 2006, we’ve built our reputation on delivering on our promises and treating our customers as valued business partners.
Fix & Flip Loans, Bridge Loans, Buy & Hold Rental Deals & More
- Investment/commercial loans ONLY
- First lien only
- Interest-only monthly payments
- Up to 100 percent purchase financing
- Up to 90 percent loan-to-cost
- Up to 65 percent of rehab’s after-repair value (ARV)
- Pricing depends on investor experience
- Non-owner occupied ONLY
- Single-family residential
- Condo units
- Office buildings
Our Private Mortgage Loans Are Based on Several Simple Factors
We recognize that successful real estate transactions come in different forms and shapes.
This is why we believe in the power of compensating factors. We underwrite each hard money loan request holistically and evaluate its strength based on three fundamental factors:
- The Collateral. How much is our borrower paying for it? What is the current condition of the property? How much would it cost to rehab it? What is the after-repair value of this Bowie property?
- Borrower Character and Experience. How much experience does the borrower have rehabbing, flipping or managing real estate? How much of their own money do they plan to invest in this transaction? What is their credit and employment history?
- Proposed Exit Strategy. What is it? How long would it take to execute it? Is the borrower realistic in how much money, time, and effort it would take?
Have questions about hard money loans? Call the leading hard money lenders in Bowie at 240-436-2340.
We lend our own money. We are local. Our private financing provides the best value by combining competitive pricing with personal service. We are your local hard money lender in Bowie, MD
We work with all types of real estate investors: many of our borrowers are just starting out, others are grizzly rehabbers with years of experience under their belt. Our private loans in Bowie are all collateral-based. We secure them against an investment property you’re planning to purchase or already own. We lend our own money and are not concerned about many aspects of your situation that are important to conventional lenders. Our underwriting decisions are based on common sense and our thirteen-year experience of doing private lending in the DMV area. We don’t have a minimum credit score requirements and don’t verify your income. Our hard money loans in Bowie typically cover 100% of your purchase price and often contribute to your renovation. This is the leverage that no traditional lender can come close to!
For any questions about how you can start making money flipping houses in Bowie, Maryland, contact New Funding Resources.