For investors seeking fast approval hard money loans in St. Louis, Westre Financial Group offers a straightforward and efficient solution. With a proven history in the local market, they specialize in providing quick closing loans in St. Louis without the unnecessary hurdles typically associated with traditional financing.
Understanding Hard Money Lending
Hard money lending is a financing method that is primarily asset-based. Rather than focusing on the borrower's credit history, hard money lenders evaluate the value and potential of the property itself. Westre Financial Group uses this model to provide fast approvals, ensuring that if the collateral is solid, the loan is promptly approved.
With over two decades of experience, Westre Financial has processed more than 2,650 loans totaling over $143 million. Their depth of knowledge and practical lending approach place them in a unique position to assist real estate investors effectively.
Steps to Obtain Fast Approval
Securing quick closing loans in St. Louis through Westre Financial Group involves a clear and simple process. First, prospective borrowers must complete the borrower application available on the company's website. If a pre-approval letter is needed, it is issued once the application is reviewed.
After identifying a property, the borrower submits a property application along with proof of funds necessary for rehabilitation. Proof of funds is essential as Westre Financial does not fund rehab costs. Once the applications and proof are received, Brad Westre personally inspects the property.
During the property visit, four criteria are evaluated:
● Purchase Price
● Renovation Cost
● Soft Charges
● Anticipated Selling Price based on comparable sales
If the evaluation suggests that the borrower stands to make a reasonable profit, the loan is approved for 100% of the property's purchase price. Funding is released promptly, contingent upon the readiness of the title company.
Specific Conditions and Requirements
Westre Financial Group maintains a set of clear conditions to ensure the quality and security of their loans. They only lend within St. Louis City and County, leveraging their detailed understanding of these markets. Furthermore, they require borrowers to provide their own rehabilitation funds, reinforcing the principle that well-prepared investors are more likely to succeed.
Properties located in floodplains are ineligible for financing due to the high cost of flood insurance. Additionally, Westre Financial keeps costs transparent by charging only a 2% origination fee added to the loan amount. They avoid hidden charges such as credit check fees, appraisal fees, and processing fees.
Borrowers must name Westre Financial Group, LLC as the Mortgagee with the appropriate legal clause included in the documentation.
Advantages of Choosing Westre Financial Group
Investors seeking quick closing loans in St. Louis benefit from several advantages when working with Westre Financial Group:
● Low-cost loan structures
● Fast and reliable funding
● Loans covering 100% of the purchase price
● No junk fees or hidden charges
● Services open to non-Missouri residents
● All loans processed entirely in-house
● No prepayment penalties
Their commitment to funding all loans internally, without borrowed or investor funds, ensures a level of stability and responsiveness that few competitors can match.
Conclusion
For investors seeking fast approval hard money loans in St. Louis, Westre Financial Group offers an unmatched combination of speed, reliability, and expertise. Their streamlined processes, extensive experience, and dedication to investor success make them a premier choice for quick closing loans in St. Louis. To learn more about how they can support your next investment opportunity, visit Westre Financial Group today.
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