Types of Loans

Loans serve many different purposes. Whether you are looking to invest in a renovation property, buy a new home before you sell your current home, receive an inheritance before the probate process is complete, or simply want to pay off high interest debt, we offer a wide range of loans to meet specific financial situations.

Fix and Flip Loans

Also known as a hard money rehab loan, investment property rehab loan, or a house flipping loan.

A fix and flip loan is a short term loan that allows a real estate investor to gain financial capital to purchase, improve, and resell or rent a property. The loan enables the borrower to purchase the property and profit from its resale.

This type of financing cannot be obtained from a bank. They consider fix and flip properties to be riskier loans, as these types of properties do not meet traditional lender guidelines.

The interest rates tend to be higher for this type of loan due to its short pay off period of 6 to 12  months, but there are definitely some advantages to fix and flip loans:

  • Get money quick! It takes only a few days to process a fix and flip loan request, while a traditional bank loan often takes a couple of months or longer.
  • You don’t have to have a great credit score to qualify.
  • Borrow up to 85% of the purchase price or up to 70% of the AVR (After Repair Value).

Keep in mind you will need to show you have a financial stake in the property. Typically this will be anywhere from 15% up to 35% of the home’s value in your own funds.

We offer competitive interest rates for those looking to invest in fix and flip properties. Give us a call at 702-RE-LOANS or email us at abarashi@allwestern.com to speak with an expert.

Investment Property Loans

Investment property is real estate property that has been purchased with the intention of earning a return on the investment, either through rental income, the future resale of the property or both.

An investment property can be a long-term endeavor or a short-term investment such as when real estate is bought, remodeled or renovated, and then sold at a profit (flipped).

If you are looking for a fast approval, we provide competitive rates and fees. We have the capital, experience, and expertise to fund residential, commercial, and land loans. We provide financing in the greater Las Vegas area, including North Las Vegas, Henderson, and Boulder City.

Bridge Loans

Also known as a bridging, caveat or swing loan.

A bridge loan typically allows a home buyer to purchase a property before they sell their existing home. The loan relies on the value of the borrower’s current home as collateral and essentially provides a down payment for the new property being purchased.

Advantages of a bridge loan:

  • Less stress when it comes to financing a move from one home to another.
  • Buys time to move into a new home – you can sell your house after you move, rather than before. 
  • If payments are made on time a bridge loan can boosts your credit score in a short period of time due to a short pay off period.

For more information about our competitive bridge loans, get in touch by calling 702-RE-LOANS or emailing us at abarashi@allwestern.com today.

 

Other Loans We Provide

Land Loans: Institutional lenders often won’t provide land loans, as they view vacant property as an investment risk. We offer land loans for up to 50% of the land’s value.

Cash Out Loans: We provide cash out and refinance loans on investment properties and owner-occupied properties.

Refinance Loans: For those who want to consolidate their debt, pay off debt, or replace an existing loan with better terms, a refinance loan is a great option.

Purchase Loans: A purchase money loan is a loan secured by a trust deed. The buyer signs at the time the property is purchased.

Rehab Loans: Also known as a renovation loan, a rehab loan allows investors to finance both the purchase or refinance and renovation of a property with a single loan. This makes renovation much more straightforward for those who want to either improve upon a property they already own or purchase a new property they want to renovate.

Estate, Probate Loans: Settling an estate can be a very complicated and often time consuming process that can drag on for years. We offer estate and probate loans that give you access to funds before you receive them by using your inheritance as collateral.

There are many reasons why individuals seek out an estate or probate loan:

  • Settle an estate: If you are settling the estate of a loved one you probably already know the probate process can be expensive. There are legal fees, taxes, estate debts, funeral costs and a number of other expenses involved. An estate or probate loan can help offset these costs so that you don’t have to pay out of pocket.

  • Negotiate your inheritance: When it comes to settling an estate, some individuals want real estate while others want cash or personal items. With an estate or probate loan in hand you have the funds to buy out other heir’s shares of the property.
  • Pay off personal debts: You may be counting on your inheritance to pay off immediate debts such as medical bills, credit cards, or high interest loans that can’t wait for probate settlement. An estate or probate loan allows you to settle debts fast, which can amount to big savings on higher interest debts.
  • Cover day-to-day expenses: If you are counting on your inheritance to help cover day-to-day expenses, an estate or probate loan can provide much needed funds now while you wait for the probate process to finish.

Distressed Property Loans: Traditional financial institutions often will not provide loans for properties that are purchased through a foreclosure, short sale, or REO. For these types of deferred maintenance properties, we offer investors a way to purchase and renovate potential real-estate investments.

Vacation Home Loans: Financing a vacation home can be tricky if you already have a primary mortgage. We offer vacation home loans to help you fund your vacation home purchase.

Foreclosure Bailout Loan: If you are facing foreclosure, a foreclosure bailout loan can help. This refinance loan helps homeowners pay off their mortgage loan when facing default status.