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 the 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. We believe that if you make money, we make money.
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.
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.
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.
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.