Good Funds Lending, LLC is excited to announce more loan programs and loan programs with lower rates coming in April 2019. We work hard to provide Colorado hard money loans with low rates. We are happy to be a part of the Denver Metro community and happy to see our borrowers improve the communities. Stay tuned…GoodFundsLending.com
We offer custom Denver bridge loans at competitive rates for up to 3 years.
Sometimes property owners are waiting for permanent financing or other bank loans. And sometimes the bank or other lender needs more time because of the lender’s processes, or a borrower credit clean up or a income history for the property is needed. That is when short term bridge loan provided quickly can help. Because bridge loan provides financing while the borrowers are securing longer term financing, it “bridges” the financing gap. Situations are different, and that is why we provide custom Denver bridge loans.
By custom Denver bridge loans, we mean short term (up to 3 years) hard money loans in the Denver Metro Area of Colorado.
Properties in the Denver Metro Area:
- Flip or Income Single Family (non owner occupied) – Up to 70% LTC/V*
- Multi-unit residential (2-40 units;non owner occupied) – Up to 70% LTC/V*
- Retail, Office, Commercial, Industrial – Up to 60% LTC/V*
*LTC/V means the loan to cost (LTC) or loan to value (LTV) ratios.
Good Funds Lending, LLC lowers rates and fees. Interest rates as low as 9% and origination fees at 2% or less. Check out our standard loan program options Custom longer term loans also available for commercial properties.
One more reason why we are the Colorado hard money lender for experienced investors™.
We have increased the lending limits to $650,000 per property. You can finds more details regarding the loan programs on the Fix & Flip Loan Page or the more details to Fix & Hold Loan Page)
Good Funds Lending, LLC is focused on being the best hard money lender for experienced investors in the Colorado Denver Metro Area. Inquire about a Denver Colorado Hard Money Loan with Good Funds Lending
It is important to us to act to ethically and feel good about our business; therefore we want our potential borrowers to carefully consider all their potential options before deciding if hard money loans make sense for them.
Common solutions that may be less expensive than hard money include (this is not a comprehensive list):
- Personal savings or personal investment accounts
- Self Directed IRA
- Home Equity Lines Of Credit (HELOC) or other loans based on a borrowers existing assets
- Friends & Family Loans
- Loans from traditional channels including national banks, regional banks, community banks and credit unions
When less expensive financing such as the above are not a good fit or will not work for reasons like the following:
- Insufficient personal funds (savings, investment accounts etc.) available or insufficient to pursue multiple projects at once
- Insufficient Self Directed IRA funds available or insufficient to pursue multiple projects at once
- Insufficient HELOC (or other loans based on a borrowers existing assets) funds or insufficient to pursue multiple projects at once
- Friends and family loans are not available
- Friends and family loans are not an option for personal reasons
- Traditional lenders can not make the loan fast enough to get the property
- Loan will not be approved because the borrower has too many loans or properties with loans
- Loan will not be approved because the property is not in habitable condition and requires repair
- Loan will not be approved because the borrower does not have sufficient income
- Loan will not be approved because the borrower has poor credit
- Other reasons make the alternatives unattractive or unavailable, but the property is good investment
Hard money loan may be a good solution. However hard money is typically a relatively high costs loan and typically does not reduce your risks or obligations.
We are the Colorado hard money lender for experienced investors™. We provide our borrowers with flexible, quick and direct service and have lower rates and fees (compared to other Colorado hard money lenders).
We are not attorneys, accountants, or professional advisors and we recommend you consult your own advisors before acting. We make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information and none of the content should be advice or considered offer or agreement.
While not all Colorado hard money lenders may look this closely, the investor borrower can lose profits or even lose money when the after rehab value is lower than they expected. As a private Colorado Hard Money lender interested in having successful repeat borrowers, here are some of the factors that are frequently overlooked that may result in a lower after rehab value (i.e. sale price) that we consider in our after repair value estimate:
- Small first floor relative to other houses in the area (and comparable properties used for valuation)
- Low bedroom and bathroom count on the first floor relative to other houses in the area (and comparable properties used for valuation)
- Small master bedroom
- Relatively high traffic street where a family may be uncomfortable allowing children to play
- Nearby noise pollution (e.g. fire station within ¼ mile, close to a busy road, etc.)
- Visible eye soars from the property (e.g. direct views of trash dumps, industrial parks, etc.)
- Downwind issues (being close and downwind from trash dump, sewage treatment plant, factory, etc.)
- Being in flood plain or having bad drainage characteristics on the lot
- Garage or parking is not as good as the comparable properties used in the valuation
- Difficult to access (e.g. large blinds spots from driveways, steep drive ways, etc.)
This is not a complete list of all factors that may result in lower property value, but represents factors we frequently see overlooked.