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Willamette Valley Oregon
Hard Money Loans

 

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As the Willamette Valley’s hard money lender of choice, we proudly serve Salem, Albany, Corvallis, Philomath, Eugene and Springfield.

Why Choose First Capital Funding, Inc. for hard money financing in the Willamette Valley?

To put it plainly, we understand hard money loans. The company has created over 2,500 loans worth over $2.5 billion since its founding in 2013. The company secured more than 500 loans for real estate investors in 23 states in 2022.

Many borrowers use First Capital repeatedly to fund their projects. Many clients initially come to us for one loan type, such as a fix and flip loan. Yet, as needs evolved over time, the company was there to help them navigate their new projects with the right financing. The fix-and-flip investor might then move on to rental properties, a second mortgage, new development, a loan for their primary property, and possibly a cross-collateral second mortgage.

Unlike a hard money lender, mortgage brokers are not restricted to a single source of funding. When the financial markets froze at the start of COVID in 2020, a large number of conduit lenders, who originate and sell their loans to Wall Street, stopped funding loans for a few months. But First Capital was able to place loans with family offices, mortgage funds and individual trust deed investors to keep projects going until the conduit lenders resumed lending.

We may not always be the ideal option for borrowers, but we are aware of resources that real estate investors can use to obtain hard money funding for their projects. We will gladly refer them to the right funding source for them.
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Why is First Capital Funding, Inc. considered the Willamette Valley’s hard money lending provider of choice?  

First Capital Funding, Inc. is a hard money mortgage broker with numerous lending sources to finance your real estate investments.

We offer a single trusted source of financing for acquiring, developing and renovating investment properties. And when you need long-term financing for a stabilized property, First Capital has you covered, with multiple long-term loan options designed to meet the needs of real estate investors.  
We find that real estate investors usually deal with complicated circumstances that might make securing financing a challenge. Also, the specifics of preparing a loan application change 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, Inc. is a leader in providing hard money financing for real estate investors. 
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What Sets First Capital Apart

What are the Advantages of a Hard Money Loan?

Whether you're trying to secure financing to purchase, refinance, or cash-out refinance, here are some advantages of using a hard money loan:

  1. Speed/Closing Time: If your bank financing fell through at the last minute or you have a short deadline, of say five days, hard money loans can close fast. First Capital Funding, Inc. has closed loans in as little as 24 hours, with the typical closing period 5 to 14 days.
  2. Credit Score Isn't the Primary Deciding Factor (but it's still important): If you need a hard money bridge loan, the lender will review your credit to see how you've managed credit in the past and whether you’re likely to secure long-term financing to repay the bridge loan. Minor blemishes are acceptable. But a track record of missed payments and a series of judgments are often impossible to overcome.
  3. Rehab and Non-Stabilized Property Financing: Some properties are not eligible for bank financing due to their poor condition. Non-stabilized properties could be completely vacant or have a high vacancy rate, disqualifying them from bank financing. In this scenario, hard money bridge loans can help investors buy properties to rehabilitate or stabilize with long-term renters.
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Private Money Loans Willamette Valley

What Types of Hard Money Loans Does First Capital Funding, Inc. offer in the Willamette Valley? 

Hard money loans can be used for a variety of different purposes. First Capital Funding, Inc. offers the following types of loans to real estate investors in the Willamette Valley area:
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What is the Cost of a Hard Money Loan in the Willamette Valley? 

In the Willamette Valley, hard money loans often have origination fees of 2-4% and interest rates ranging from 10-13%. The term of the loan could be three months — or up to 15 years, for example, in the case of loans on cannabis properties where institutional financing is limited. There may also be additional costs, including appraisal or valuation fees, underwriting, loan document fees and legal fees on top of the standard title, escrow and recording fees that come with each loan.

The following items influence hard money loan pricing: 

  1. Loan Type:
    First Capital originates eight types of hard money loans and numerous bank financing programs. Each type of loan has a different pricing structure.
  2. Property Type:
    A bridge loan on a single-family home will usually have lower closing costs than a construction loan to build 10 spec homes.
  3. Project Scope:
    A cosmetic fix-and-flip project with a $30,000 rehab budget that will be sold in two to three months is much easier than an 18-property cross-collateralized blanket loan against a mix of commercial and residential rental properties.
  4. Funding Source:
    There are five different funding sources for private money loans – individuals, real estate offices, family offices, conduit lenders and mortgage funds. Each has preferences for the property types and scenarios they’ll finance. In turn, their pricing structure will reflect their risk level.  
  5. Availability of Capital:
    If you have a complicated project, fewer lenders are willing to take on something with many moving parts, increasing the cost of funds.
  6. Borrower Experience Level:
    A first-time house flipper will be required to have a larger down payment, pay more in closing costs, and have a higher interest rate than someone who has bought and sold 20-30 properties every year for the past decade.
  7. Borrower Financial Strength:
    Stronger borrowers will have a lower cost of funds than borrowers who are continually defaulting on debt.  

For more information on hard money loan pricing, please see our Hard Money Pricing Guide.

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.

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