ReCasa Financial Blog
According to mortgage industry expects, “there is a strong market for private lenders due to the current lending restrictions with traditional institutions.” While banks are stepping back from lending to real estate investors , business owners, builders, developers, and others, these individuals are still in high demand for financing. Because of this, mortgage originators are turning to other resources for loans.
When looking for real estate financing, it is a good idea to research your options, whether it be a bank, hard money lender, or private lender. ReCasa Financial Group is one option. ReCasa Financial Group has been around since January 2000. ReCasa Financial Group offers great benefits for their loans including:
closing loans quickly- offering lower rates than other resources
- holding and servicing your loan in house
- offering 100% financing for purchase, improvements and closing costs
- free prequalification
- no upfront fees
Although hard money lenders get a bad rep, they can be another good source for mortgage originators. Unlike ReCasa Financial Group, hard money lenders went out of business from 2008 to 2013. Compared to ReCasa Financial Group, hard money lenders are:
- known for closing deals quickly
- more expensive as they charge a high interest rate of between 12% and 21% with the possibility of points up front
- financing under 65% of the after-repair value (ARV)
Mortgage originators, as well as other real estate professionals looking for financing, need to expand their options. Brokers can be compensated for their closed rehab loans with ReCasa Financial Group. If you are looking for real estate financing, give ReCasa Financial Group a call today at 614.221.6770 to learn about what we have to offer.
The post Banks Won’t Lend, ReCasa Financial Group Will first appeared on ReCasa Financial Group.
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