Did You Know?
You can Apply for a loan now?
You can Apply for a loan now?
GET APPROVED ONLINE WITHIN MINUTES
Our Loan Programs are Tailored to Your Needs
Crismar Funding has been rated among the top Private Money Lenders in the country. Specializing in helping seasoned and beginner real estate
investors by providing short-term mortgage solutions to acquire fix and flips, rental properties, rehab, or refinance commercial properties
all across the United States.
1-4 unit non-owner occupied
5+ Units
Retail plus apartments
And Restaurants
Apartment Buildings
Vacant land, or rural properties.
And industrial properties
And Other special use properties
The first thing you’d need to get approved for a Private Money loan is to have at least 15% to 20% down payment in the case of a purchase, or substantial equity in the property if you’re looking for a cash-out refinance.
The higher the down payment or property equity you have, the more likely you will be approved. We will also look at your credit score and cash reserves. We look at this to assess if you can make payments on time and pay for other costs like taxes, insurance, etc. Last but not least, we will look at the borrower’s experience in real estate.
If this is the first time that the borrower is going to finance investment real estate, he or she might face more scrutiny than a borrower with years of experience in these types of deals.
Working with Fix and Flip lenders like Crismar Funding is a straightforward process tailored for investors.
People choose us for
Traditional mortgages can take several months to close.
We can do it in 2 to 5 Business days
Rates start from 5%
With no upfront cost and minimal documentation.
Get up to 80% of the purchase price.
And 100% of renovation costs.
How Does A Private Money Loan Work?
A Private money loan works as an asset-based loan, meaning that while Private money lenders take into consideration the investor’s credit score, this is not a crucial factor in determining his or her eligibility. Instead, lenders require that you use real estate property as collateral.
They use the price of the property to calculate the risk of the loan and the Loan To Value (LTV). On the other hand, real estate developers, investors, and flippers use Private money to get the required funds to close time-sensitive deals where they can get a property at a low price, flip (fix) it, raise the value of the property and then sell or rent at a profit.
The main reason real estate investors choose to apply for a private money loan is that private lenders can fund the deal within a week–or less if the borrower meets all the qualifications.
PML’s work great on short-term flips and rehabs, or for first-time purchases, yet on longer-term investments, PML’s are not the best idea.
Private money loans also work similarly to bridge loans. They both have similar criteria for lending. Bridge loans are solely for buying real estate properties or investment properties that don’t qualify for traditional lending programs. A bridge loan can also be used as a down payment for a new home when the buyer hasn’t sold their current house yet.
Bridge loans can be issued by traditional and private lenders, and PMLs are only issued by private lenders, like Crismar Funding.
Private money loans also works similarly to bridge loans
If you want to learn more on how to get a fix and flip or Private money loan, call us we would love to answer your questions.
Crismar Funding is a private mortgage lender specialized in Private money loans for fix and flipping houses. We provide competitive non-bank lending options for commercial real estate and residential rental properties.
We make Commercial Real Estate transactions happen smoothly. Our comprehensive lineup of commercial real estate loans offers solutions for self-employed borrowers that are thinking about purchasing a building, get working capital through the equity on a property, or refinance their present commercial mortgage.
We lend across all 50 states with private loans that range from $250,000 to $50,000,000 on all types of real estate properties. New investors are always welcomed, learn how to finance a house flip by calling us.
If you have a 15% to 20 percent down payment available, and a 550 or higher credit score, then you need to contact and speak with one of our finance professionals today.
Our underwriting process is fast. We can close and fund deals in as little as two to four weeks.
If you are interested in residential real estate investment properties, either by flip and fixing houses, buying properties and renting them, or cash-out refinance on a non-owner-occupied property, we offer a variety of solutions for you.
Our approvals are easy to secure, and our closings are quick. To obtain a letter of intent (LOI) or term sheet we just need a handful of documents, call us today for more information.