Looking for local private funds? Call the top Hard Money Lenders in Queen Anne’s County, New Funding Resources, at 240-436-2340!
Are you looking for the best hard money loans in Queen Anne’s County, Maryland? New Funding Resources can fund your next rehab project! For 14 years, we’ve been building a reputation as the most trusted hard money lender in Queen Anne’ County. We keep gaining new clients, but we also have many repeats. People come to us when they want the best of the best!
Hard money loans are unique because they are secured against property. You can choose to use the property you’re currently acquiring as collateral or a real estate investment you previously purchased. You only have to worry about making monthly interest payments and then one balloon payment in the end to pay off the rest of your loan. You repay our loans by either selling the property, otherwise known as fix-and-flip, or refinancing a property with a conventional lender once your renovation is completed (buy-and-hold).
Getting approved for a hard money loan is simpler than a traditional loan. Unlike traditional lenders, we take a more holistic approach to underwriting. We look at things beyond just your credit history. We want to know about your experience with rehabbing, savings, past financial decisions, and the value of the property you’re rehabbing. Although we lend on a case-by-case basis, we can often fund 100% of your real estate purchase and up to 90% of the entire loan-to-cost!
We extend our private loans in Queen Anne’s county to Barclay, Centreville, Church Hill, Millington, Queen Anne, Queenstown, Sudlersville, Templeville, Chester, Grasonville, Kent Narrows, Kingstown, Stevensville, Kent Island and anywhere in Maryland’s Eastern Shore.
Our Queen Anne's County Hard Money Loans Deliver:
We provide pre-approvals in as few as 24 hours and can fund your private loan in Queen Anne’s County in five days or less.
Our team of local experts is focused on ensuring a smooth closing and timely support of your renovation project.
Our proprietary underwriting criteria focuses on your deal’s potential, not your credit or income.
As the top Queen Anne’s County hard money lender, we know the local market inside out and have boots on the ground to make your rehab a success.
Our hard money loans are designed to keep your costs low and help maximize your profits.
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.
In Queen Anne’s County, real estate investment opportunities are abound
Queen Anne’s County, Maryland’s Gateway to the Eastern Shore, is within an hour’s drive of Washington, D.C. It offers a world of scenic shoreline and fertile farmland. From Kent Island, the hub of commercial and residential activity, to our rural, colonial-era small towns, the county appeals to people who are interested in maritime activities, love history and enjoy the outdoors. It boasts 414 miles of shoreline and 29.2 square miles of water area. With its many Chesapeake Bay waterways, it offers diverse real estate properties including historical homes on waterfront farms and cottages on creeks.
The median home value in Queen Anne’s County is $345,466. Queen Anne’s County home values have gone up 3.1% over the past year and Zillow predicts they will rise 3.9% within the next year. The median list price per square foot in Queen Anne’s County is $199, which is higher than the Baltimore-Columbia-Towson Metro average of $184. The median price of homes currently listed in Queen Annes County is $407,900 while the median price of homes that sold is $320,300. Interestingly, the median rent price in Queen Anne’s County is $1,748, which is higher than the Baltimore-Columbia-Towson Metro median of $1,599 making it an excellent choice for buy-and-hold properties.
Looking to becoming a real estate investor in Queen Anne’s county or to expand your existing portfolio there? We’re the Eastern Shore top private lenders and will help fund your transaction. Call to get pre-qualified today.
Why use our hard money loans to purchase an investment property in Queen Anne’s County
The purpose of our hard money loans in Queen Anne’s county is to help local real estate investors make a profit by providing a unique source of funds to buy, rehab and sell a property. There are three major reasons why, without private hard money lenders, real estate investing would be limited to those with deep pockets.
Many investors would simply not qualify for a loan.
Some folks don’t have a sufficiently high credit score, have dings on their credit, or do not show enough income to qualify for a traditional loan. Others would be turned down by their bank because they already have too many mortgages. Without access to private funds, these borrowers would have no choice but to sit on the sidelines and watch other people make money.
Many properties would not qualify for financing.
Conventional lenders typically base their loans on a current condition of the property. With few exceptions, they lend to consumers, not rehabbers, so they require a property to be “livable” right away. They don’t want to lend on properties that are damaged, trashed or don’t have a functioning kitchen or bathrooms. Hard money lenders focus on the property’s potential or what it can be once an investor finishes up its rehab. For example, at New Funding Resources we base our loans solely on the after-repair value of the property.
No ability to compete with cash offers.
A great investment opportunity often comes with a seller who is either under time pressure to sell or needs to close with a minimum hassle. An all-cash offer is hard to compete with – unless you are working with a hard money lender like us. No distressed seller would wait sixty days for a bank to approve a loan. In contrast, a good hard money lender should be able to fund a loan within a week or so. Because of their speed, hard money loans are widely considered equivalent to all-cash offers.
Pre-qualify for your hard money loan in Queen Anne’s County today!
Hard money loans are not for everyone and not everyone will qualify for them either. However, for many investors, they offer a fast and nimble source of capital not available from traditional lenders. We can let you know what you can qualify for in 24 hours or less and fund your project in as little as 5 days. That’s an unbeatable timeline!