As Southern Oregon’s hard money lender of choice, we proudly serve Roseburg, Grants Pass, Medford, Ashland and Klamath Falls.
Why is First Capital Funding, Inc. considered Southern Oregon’s hard money lending provider of choice?
First Capital Funding is a hard money mortgage broker with numerous lending sources to finance your real estate investments.
What does this mean to you?
It means you can have a single trusted source of financing for acquiring, developing, and renovating investment properties. Furthermore, First Capital has you covered with a variety of long-term loan alternatives, created to satisfy the requirements of real estate investors seeking long-term financing for a stabilized property.
We find that real estate investors often deal with complicated circumstances that can make securing financing challenging. The specifics of preparing a loan application differ based on the situation. First Capital has worked through countless scenarios with hundreds of customers to place loans and fund projects with institutional and hard money lenders throughout the years. To secure the funding for your project, we rely on our broad network of seasoned lenders, and we have a track record of successfully resolving even the most difficult financing issues.
First Capital Funding is a leader in providing hard money financing for real estate investors.
Why Choose First Capital Funding, Inc. for hard money financing in Southern Oregon?
We understand hard money loans, to put it simply. The company has originated over 2,500 loans for over $2.5 billion since its founding in 2013. First Capital originated over 500 loans for investors in 23 states in 2022.
First Capital is repeatedly used by borrowers to finance their latest projects. Many clients initially came to us for a fix and flip loan. As their business and investment projects evolved over time, the company was able to help them obtain financing for rental properties, ground-up construction, land acquisition – and even financing their primary residence.
We may not always be the ideal option for every borrower, but we know the resources real estate investors can use to finance their projects. We always do our best to refer them to the right lender for their unique situation.
What Types of Hard Money Loans Does First Capital Funding, Inc. offer in Southern Oregon?
Hard money loans can be used for a variety of purposes. First Capital Funding, Inc. offers the following types of loans to real estate investors in Southern Oregon:
Here are some benefits of using a hard money loan whether you're looking to get financing for a purchase, refinance, or cash-out refinance:
Speed/Closing Time: Hard money loans can close quickly if you have a five-day offer deadline or your bank financing fell through at the last minute. In an emergency, First Capital Funding, Inc. has closed loans in as short as 24 hours; however, the normal closing time is 5 to 14 days.
Credit Score Not a Significant Consideration (But Still Considered): If you require a hard money bridge loan, the lender will check your credit score to see your credit history and whether you can secure long-term financing to repay the bridge loan. A few flaws are acceptable. Yet, a history of late payments and a number of judgments do not bode well for success.
Rehab and Non-Stabilized Property Financing: Because of their poor condition, some properties are ineligible for bank financing. Non-stabilized properties could be entirely empty or have high vacancy rates, making them ineligible for bank loans. Hard money bridge loans can assist investors in purchasing properties to renovate or stabilize with long-term tenants in this situation.
What is the Pricing and Terms For a Hard Money Loan in Southern Oregon?
Hard money loans in Southern Oregon usually cost between 2-4 points for origination fees, with an interest rate in the 10 to 13% range. The term of the loan can span three months to 15 years. Additional fees for drafting loan documents for a single investor in a trust deed span from $1,095 up to $3,500 for legal services.
Pricing is determined by the seven following factors:
Loan Type First Capital originates eight different types of hard money loans and numerous bank programs.
Property Type A bridge loan on a single family home will usually have lower pricing than a 10-lot subdivision because it is less complex.
Project Scope A quick fixer-upper property is a much easier project than acquiring an apartment building to convert into condominiums, which can take several years for tenants to move out and the investor to obtain all the permits and entitlements to begin selling condos.
Funding Source Each hard money lender has a different pricing structure depending on how they are set up. A conduit lender, which sells loans to Wall Street investors, will often have the lowest overall pricing but will also require the most underwriting conditions. An individual trust deed investor may not ask for many details, but will have a little higher pricing. Individual trust deed investors often won’t do the loans that a conduit lender would, like a high-leverage fix and flip loan with heavy rehab. And vice versa – many conduit lenders won’t finance certain properties that an individual trust deed investor would finance, like raw land to entitle and develop into an apartment building.
Availability of Capital When the capital markets are flowing, like they were from 2012 through the first half of 2022 (with the exception of the onset of COVID-19), hard money loans are readily available for most projects. At the first sign of trouble brewing in the real estate and capital markets, capital providers tighten up, like conduit lenders who rely on banks for credit lines and Wall Street investors to buy their loans. When this happens, individual trust deed investors, family offices and mortgage funds step in to fill the void until the conduit lenders (and their Wall Street investors) return with new underwriting guidelines and pricing structure.
Borrower Experience New real estate investors will have higher-priced financing as opposed to a long-time investor with a track record of successfully completed projects (and repaid loans).
Borrower Financial Strength The greater liquidity and credit history, the better the pricing in most circumstances.
Disclaimer: Information, rates, and pricing are subject to change without prior notice. All loans subject to borrowers and underlying collateral meeting First Capital Trust Deeds’ and/or assigns then-current underwriting criteria. Other restrictions apply.
