BELLEVUE, Wash., Feb. 10, 2020 — Intrust Funding, the Bellevue-based hard money lenders, has proven to be a local favorite among Washington state real estate investors.
Since 2009, Intrust Funding has provided hard money loans to real estate investors in Washington state. Known for its transparency and efficiency, the company outcompetes many national and other local lenders by funding most investment loans within 48 hours of closing.
Intrust Funding is also known for the ease of its borrowing process. As investors work on fix and flip or buy and hold projects, they come to a point in their work where they need money to buy materials or pay contractors. Lenders release allocated portions of these funds in stages, depending on how far along investors are in their projects. Many lenders require an inspection of the construction progress to ensure investors are on task and on target.
The draw process for Intrust Funding is acclaimed by many in the real estate investment world. Instead of inspections or appraisals, Intrust Funding requires only fifteen photos from borrowers that show their project is on target with its scope of work. It doesn’t get much easier than that. No inspections and no appraisals, just fifteen photos.
The requirements for doing a loan with Intrust Funding are pretty simple. In line with the industry standard, Intrust Funding provides loans not based on the credit score of the borrower but rather on the After Repair Value (ARV) of the investment property that an investor uses a hard money loan to purchase and/or rehab. This diverges from conventional lenders who base their loans on the current value of the property in question.
Also an industry standard, a loan from Intrust Funding cannot be used for an owner-occupied property. Borrowers must have an exit strategy, by either selling the property at the end of the renovation and using the sale to pay back the loan or by refinancing into a mortgage and using the refi to pay back the loan.
Intrust Funding does not provide personal loans. Instead, real estate investors use Intrust Funding’s hard money loans to purchase a property, or purchase a property and renovate it. Then they either sell the property or manage the property as a rental.
Intrust Funding provides loans for both residential and commercial properties. Whereas many hard money lenders have separate loans for acquiring a property and rehabbing a property, Intrust Funding offers all-in-one loans. That means, if needed, the acquisition cost and renovation costs are tied into the same loan, further streamlining the borrowing process.
Furthermore, all fees for real estate investment loans from Intrust Funding are rolled into their loans. Borrowers only pay an interest payment each month throughout their loan terms, with no early payoff fees or penalties. The typical loan term sits between 5 and 12 months, although borrowers are allotted 2 loan extensions if needed.
Intrust Funding provides fast capital to investors to cover closing costs quickly. With short term loans, borrowers present all-cash offers in as little as 48 hours to secure the best properties fast. Intrust Funding is revolutionizing the lending industry through its unwavering commitment to efficiency, transparency, and integrity throughout the loan process. Intrust Funding provides hard money loans for Washington state investment properties only.
If you would like to learn more about hard money loans and real estate investing, be sure to check out their Investor 101 class. Located in Bellevue, Intrust Funding has become a staple of the Washington real estate lending industry.