Looking for the best hard money loans in Hagerstown? We specialize in Washington County. Call New Funding Resources at 240-436-2340 today!
New Funding Resources is a Hagerstown private hard money lender that is fast, flexible, and local. We works dramatically different from conventional lenders you might be accustomed to. Our financing is designed specifically to finance properties that require substantial repair. Many traditional lenders won’t touch this type of homes with a ten-foot pole. We not only finance them but also provide you with incredible leverage. Because we base our hard money loans in Hagerstown on the after-repair value of the property, we’re often able to provide you a loan that covers 100% of your purchase price and contributes to your rehab budget.
Whether you are looking to flip properties or are in the process of building your real estate portfolio, Hagerstown offers unique opportunities for real estate investors with any budget. Compared to other DMV areas, median Hagerstown home prices are relatively modest – as of October 2019, they hovered just above $141,000. Hagerstown is also benefiting from years of steady appreciation without major price volatility. What that means is that Hagerstown offers a unique enclave of modest pricing and real estate stability. All of that makes it attractive to investors looking to keep both their financial contribution and their risk to the minimum.
If you’re planning to build long-term wealth by becoming a landlord, the Hagerstown properties tend to offer better debt coverage ratios than many other more expensive DMV areas. As of July 2019, the median price rent per month in Hagerstown was $1,432 (a 3% increase from 2018) making it cheaper to be a landlord in Hagerstown than in the surrounding counties.
We are hard money lenders that specialize in Hagerstown and Washington County. Ready to invest there? Call us at 240-436-2340.
Our Hard Money Loans in Hagerstown Offer:
Pre-approvals in less than 24 hours and funding in less than five days.
We know the ins and outs of the Hagerstown real estate market. Underwriting criteria that focus on your deal’s potential, not your credit or income.
Our hard money loans in Hagerstown are designed to keep your costs low.
Support and Guidence
Our team is focused on ensuring a smooth closing and timely support of your renovation project.
As the top hard money lender in Maryland, we have boots on the ground to ensure your rehab’s 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. Our reputation extends beyond Hagerstown, making us the highest-reviewed lender in Maryland.
We Underwrite Hard Money Loans in Hagerstown Based on Simple Criteria:
- 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
- Fix-and-flip loans
- Rehab-and-rent loans
- Cash-out to finish construction
- Foreclosure and pre-foreclosure sale loans
- Loans to refinance another hard money loan
- Non-recourse IRA lending
- Non-owner occupied ONLY
- Single-family residential
- Condo units
- Office buildings
Why Choose New Funding Resources as Your Private Hard Money Lenders In Hagerstown, MD?
- We know the Hagerstown market inside out. How? Because many of our borrowers flip properties there. We’ve underwritten hundreds of successful transactions in Hagerstown and have seen our borrowers make money, again and again, investing there. We can help you do the same.
- We are local. Our office is just 40 minutes away from Hagerstown. Why it matters? Because with our boots literally on the ground, we can move faster than any other lender. We are talking not only about closing your loan within days but also about timely and efficient servicing of your future loan.
- We are the highest-reviewed private lender in the DMV area. We are not only talking the talk – we are walking the walk. We consistently deliver on our promises. Our customer reviews are a testament to our record of honesty, efficiency, and expertise.
Looking for a reliable and reputable hard money lender in Hagerstown and beyond? Call us at 240-436-2340.
If are a Hagerstown investor, here are more reasons to work with us.
If you are looking for even more reason to choose New Funding Resources as your Hagerstown hard money lender, we can give them to you. We don’t charge any application or upfront fees, can go as high as 90% of loan-to-cost, and, in Washington County, base our loans on 65% of the after-repair value. We offer great rates, but even more, we provide extremely personal service. We are known for building great relationships with our borrowers and clients. Our borrowers tell us time and time again, how smooth their experience with us has been. Perhaps this is why a big portion of our business comes from repeat clients.