Asset Backed Hard Money Lender in Washington DC
Reliable hard money loans from experts in local real estate financing in Washington DC. Fast funding coupled with excellent service at competitive rates.
Why Choose 14th Street Capital for Hard Money Loans in Washington DC
Fast Approvals and Short Closing Times
Our team at 14th Street Capital understands the value of quick closing when investing in competitive real estate markets such as Washington DC. With loan pre-approvals taking place in under 24 hours and closing times in a matter of weeks instead of months as in the case of conventional loans, our hard money loan offerings allow you to close deals faster. Faster processing so that you don’t miss out on the deal of your choice.
- Preliminary approvals in under 24 hours
- Closing time - 10-14 days
Lending on a Case-to-Case Basis
We understand that every real estate investment is unique and thus instead of following strict guidelines, we have a flexible underwriting process. By catering to the lending requirements of experienced and first-time investors alike, we make sure that our loan offering matches the project. Instead of following a predetermined loan template, our flexible underwriting process we offer tailored loan offerings on a case-to-case basis.
- Direct control over approvals and closings as a direct lender.
- Customized interest rates and origination points offerings.
Minimal Documentation
At 14th Street Capital, we believe in simplifying the loan application process for our customers. We have eliminated all the hoops so that you can simply apply for the loan you need, with minimal documentation requirements and zero hidden fees.
- Hard money loans free of credit statements, employment history and prior real estate experience.
- In-house underwriting and partnership with local appraisers to lessen the documentation load.
Local Expertise and Unparalleled Support
With lending for investors and by investors, we at 14th Street Capital understand the intricacies of real estate investing in Washington DC. As real estate investors ourselves, our team of expert loan originators and processors provide expert advice throughout the lending process to help you succeed in your venture.
- In-depth understanding of of local real estate market in Washington, DC.
- Pre-existing partnerships with local appraisers, title agents and closing attorneys.
Why We Rank Among The Best Washington, DC Hard Money Lenders
At 14th Street Capital, we are a group of real estate investors turned private lenders. Not only do we ensure fast and hassle free funding, we also know the pain points of our borrowers which is the reason behind our customer first policy.
Whether you are just starting out or happen to be a real estate pro, we remain highly invested in every deal and aim to offer valuable guidance while rooting for your success. Attractive interest rates, transparency in lending, local expertise and partnership focus are some of the reasons why investors choose 14th Street Capital in Washington, DC.
Loan Highlights
- Zero prepayment penalty
- Funding of up to 85% of property purchase amount and 75% of ARV
- Origination points as low as 2 points
- 100% financing on rehab costs
- No credit history, income verification or tax return submission needed
- Competitive interest rates starting from 8%
- Closing time as low as 7 days
Best Private Hard Money Lender In Washington DC
The Local Advantage
As private lenders who have complete control over our own funds, loan pre-qualification takes place in a matter of hours. With 100% asset backed loans, you do not have to worry about your personal creditworthiness when applying for a hard money loan.
No credit score checks, no income proof required. All you need is a plan for ensuring profitability of your real estate investment and down payment to showcase that you have teeth in the game, and that’s it.
Customer Focused Approach In Hard Money Lending
Being real estate investors ourselves, we understand the value of relationships in real estate lending. With our focus on customer service and transparent and straightforward lending process, our relationship focused approach is the secret sauce that sets us apart from other hard money lenders.
Hard Money Lenders Washington DC
Flexible Hard Money Loans Designed to Help You Succeed
The real estate market in the District of Columbia is highly competitive. Hard money loans give you fast access to the funds you need to invest in real estate.
Driving Factors For Washington, DC Real Estate Market
Washington DC’s real estate market is hot and competitive. The average time to market for a residential real estate property is around 34 days and receives 3 offers on average. Here are the reasons why real estate investors are flocking to Washington DC and why the real estate business is going to continue to boom in the time to come.
- Education – Washington DC is surrounded by top ranking schools, making the area home of one of highest educated workforce in the united states
- Economy – Washington DC is a hub for all the leading industries that are driving the economy forward
- Migration – The real estate markets of Washington DC have low emigration rates and with 82 percent of the population looking to look for properties within the Washington DC metropolitan area area. 3 percent of population from other metros are also looking to move to Washington, which is highest in comparison to other metros.
Whether you are looking for a short term loan to fix and flip a distressed property or are planning to buy and hold a rental property, our flexible loan offerings give you access to the cash you need to succeed in Washington DC’s real estate market. If you are a real estate investor looking for a private lender to fund your investment in Washington DC, look no further than 14th Street Capital.
Wide Range of Hard Money Loan Offerings for Washington DC Real Estate Investors
Short term funding for both acquisition and rehab of properties in Washington DC. Obtain fast financing for property purchases and undertaking upgrades without the hassle of paperwork and delays of traditional lenders.
Long term hard money loans for you to start building your rental portfolio in Washington DC. Purchasing a turnkey rental property to hold for the long term or planning to conduct repairs on the existing rental units. Rental hard money loans in 14th Street Capital have you covered.
Cash Out Refinance
Leverage your existing asset to get capital for your next real estate investment project. Use equity to refinance your investment property.
FAQs For Choosing A Hard Money Lender In Washington DC
How long does it take to close a hard money loan from 14th Street Capital?
Being a completely self funded lender, we have complete control over our funds. Our in-house underwriting team allows for loan pre qualifications to take place in a matter of hours. Loan approvals get done in a couple of days. The funding typically comes through in a week, post loan approval. Overall, if your title commitment, survey and seller are good to go, it can take between 7 to 10 days to close a hard money loan with 14th Street Capital which is marginally faster than conventional lending sources.
What investors are best suited for your hard money loan offerings?
14th Street Capital’s hard money loan offerings are meant for investors who either don’t qualify for traditional loans or don’t want to deal with the requirements and limitations of conventional lenders. Our hard money loans are a great fit for any real estate investor looking to close deals faster, having flexibility in the loan application process and/or borrowing for investing in a property that is conventionally considered riskier (fix and flip).
Can I get a hard money loan to buy and repair a property?
14th Street Capital’s hard money loan offerings in Washington DC are designed to enable investors to purchase rehab and flip the property for profit. Investors are eligible to get 75% of the after repair value (ARV) of the property as a fix and flip hard money loan. Our loans also cover the repair costs, allowing the investors to buy and repair properties with minimal money from their own pockets.
How many origination points will I be charged at closing?
We charge between 1-3 origination points at the time of closing the loan. The points are determined on the basis of risk, equity and experience of the borrower. Repeat borrowers are eligible for discounts on the points.
Can I get a hard money loan for my rental property?
14th Street Capital offers hard money rental loans for investors looking to build their rental portfolio in Washington DC. Investors buying rental properties which are under-rented or in need for repair can qualify for a long term rental hard money loan from 14th Street Capital.
How are the interest rates for my loan application determined?
At 14th Street Capital, we take a tailored approach to decide the interest rates offered for each loan application. Our team takes a number of different factors into consideration for determining the interest rate. These include the property location, its valuation, borrower level of experience, previous investor relationship and loan to value. That being said, 14th Street Capital offers some of the most competitive interest rates on hard money loans in Washington DC.
Do I need to have experience in real estate to qualify for hard money loans from 14th Street Capital?
Our hard money loan offerings are available to both beginners as well as experienced real estate investors. Our loan offerings are asset-backed and use the property value as collateral. Individual experience or creditworthiness do not factor in the eligibility for getting a hard money loan for investing in the real estate markets of Washington DC.
Do I have to pay prepayment penalties if I choose to close the loan early?
For short term hard money loans such as fix and flip loans, there is no prepayment penalty. For longer term loans such as rental loans, there is a minimum 1 year interest payment required but no penalties are levied on closing the loan early.
What documents do I need to submit when getting a hard money loan in Washington DC?
The documents required for obtaining a loan from 14th Street Capital are minimal. You do not have to submit documents pertaining to credit history, proof of income or tax returns to be eligible for hard money loans in Washington DC. We typically require a letter of intent from the borrower, a note and deed of trust to approve the loan. Property valuation documentation is done in-house and we charge an upfront fee for the same.
Can I get a hard money loan even if I have another mortgage?
Our hard money loan offerings are based on the value of the investment property. We do not have a limit on the number of mortgage loans you can have. You just need to have the equity to meet the down payment requirements and show that you are invested in the project along with a plan to generate profit from your investment and you are good to go.