New Funding Resources 
Looking for Private Money Loans in Maryland, DC, and VA?
What are private money loans?
Private money loans are loans issued by private firms to finance the acquisition and rehab of real estate. Private money loans are a type of asset-based loans in which residential or commercial real estate serves as collateral. Private money loans are business loans. They are issued to real estate investors for business purposes. The most common purpose is to generate profit by fixing and flipping distressed properties. Private money loans should not be confused with subprime loans issued to consumers with less-than-stellar borrower profiles.
What makes our private money loans different?
Their unique personality. We are serious. This is why they are called “private”. Our loans are made by a private lender – New Funding Resources – that is not beholden to any underwriting criteria besides its own. Those underwriting criteria are based on years of experience in both lending AND investing in the DC area. That’s right. We are not an out-of-state lender that knows nothing about the local market. We live, work, flip, and manage a robust portfolio of properties in Maryland, Virginia, and Washington, DC. Over the years, we’ve seen what works and what doesn’t. We use this knowledge to decide which loans are a good risk and which are not. Perhaps more importantly, we use this local expertise to guide our borrowers through the process and help them to maximize their profits. Our experience shows again and again that if you make money, we make money.
Ready to roll? Let’s start with a conversation. You can call us at 301-812-3257 or fill out our application form here. We’re excited to be working with you.
What is required to get approved for our private money loans?
Enthusiasm for real estate, some nest egg, desire to make money, and the ability to work hard. Common sense is a big plus. We often say that if a deal makes sense, we’ll find a way to fund it. The amount you get approved for depends on the deal’s profitability and how much of your own capital you are willing to commit to real estate investing. You can experiment with our hard money calculator to learn more about how we analyze the deals and how much money you might need.
What is not required for our private money loans?
No Experience. Though working with an experienced real estate investor lowers lender’s risk, we do not require it. We have a successful track record identifying new real estate investors poised for success and supporting them along the way.
No Income Verification. We are truly a no-doc lender. We will not be verifying your income or asking you to fill out any income-supporting forms, including form 4506.
No Minimum Credit Score: Unlike many lenders, we don’t have a minimum credit score requirement and work with all types of credit. We look at each transaction holistically and try to identify its potential strengths and weaknesses.
How fast can we close your private money loan?
Our usual closing time is between three and ten days. As soon as we have your clear title, your appraisal, and the right type of insurance, we can go to closing. The process is as simple as if you were paying cash for the property. This is why the offers made with our private money loans are considered cash offers. If you need an immediate closing, please contact us directly.
What kind of transactions can our private money loans fund?
We fund any types of transactions except for the owner-occupied homes. Our bread and butter are residential investment properties (single-family detached homes, townhouses, or condos), but we also finance multi-family, commercial, and mixed-use properties. You can use our private money loans to buy and rehab a home you intend to flip and a home you plan to rent out. We are also one of the few lenders who fund non-recourse loans. Non-recourse loans are loans made with your self-directed retirement funds. And remember… we are super local. We only do business in Virginia, Maryland, and Washington, DC.
Our process is simple and streamlined.
We don’t just “talk the talk.” When it comes to delivering the unique value to our borrowers, we “walk the walk” – just check out our reviews. Our process is streamlined and easy. First, you get pre-approved for a private money loan based on your strength as the borrower. Depending on how much money you have, together we will set up your shopping budget together and provide you with a proof-of-funds letter to start making offers. Once you found a good property, give us a call. You would need to tell us how much money you are planning to offer, your estimated rehab budget, and your expected after-repair value of the property. We will have a detailed and transparent discussion of the deal’s profit potential, risks inherent in the transaction, and possible ways to structure your loan.
Looking for the best private money loans near you? They are just a phone call away, at 301-812-3257.
