You likely qualify for a private money loan from Northwest Private Lending if you have equity in real estate in Oregon, Washington, or Idaho, need between $50,000 and $2,000,000, and have a clear plan to repay, such as a sale or refinance. On our investor loans we do not require a minimum FICO score, tax returns, or bank statements.
What do you look at to approve a loan?
Our lending is asset-based. The property secures the loan, so most of the decision rests on the property and on your plan for it:
- The property: its location, condition, marketability, and as-is value. On a rehab, we also look at the scope of work and what the property should be worth when it is done.
- Your equity: how much of the property's value is yours. That sets how much we can lend. On fix and flip financing, for example, we lend up to 80% of the purchase price.
- Your exit: how the loan gets repaid, usually by selling the property or refinancing into a bank loan.
- The loan size: $50,000 to $2,000,000 per loan. Our loan amount FAQ explains why we set that range.
Decisions are made in-house by the people who fund the loan, and approvals are often same-day.
What do you not require?
- No minimum credit score. Credit is not what drives the decision; the property, the equity, and your exit plan are.
- No tax returns and no bank statements on investor loans.
- No third-party appraisal. We evaluate the property ourselves (see our appraisal FAQ).
- No required reserves and no underwriting fee.
Owner-occupied loans in Oregon and Idaho carry added consumer disclosures and review, explained below.
If you have had credit trouble in the past, tell us early. We look at the whole picture, and you will get a straight answer.
Does it matter whether I will live in the property?
Yes, because what we can offer depends on the state:
- Oregon and Idaho: we make business-purpose loans on investment property and owner-occupied hard money loans, including loans on primary residences. Owner-occupied loans carry added consumer disclosures and review, typically close in 7–10 business days, and are generally written for 5 years.
- Washington: we make business-purpose loans on non-owner-occupied property only. We do not lend on a Washington home you live in. Our business-purpose loans FAQ covers the details.
What will it cost if I qualify?
Every borrower gets the same published pricing: 3 points (3% of the loan amount, with a $2,500 minimum), 1% per month interest-only, and a loan document fee. Title and escrow are separate third-party costs. The full list, with worked examples, is on our rates and terms page.
How do I find out if I qualify?
The quickest way is to pre-qualify online, which takes about a minute with no credit pull, or to apply for a loan, which takes less than 10 minutes. You can also call 503-941-5473, Monday through Friday, 9am to 5pm PT, and talk with our team in Portland/Lake Oswego, Boise/Meridian, or Seattle/Bellevue.
Northwest Private Lending is a family private office that began in 1987 as Clunas Funding Group and rebranded to Northwest Private Lending in 2016. Our offices are in Portland, Boise/Meridian, and Seattle/Bellevue. If your deal is not a fit, we will tell you plainly and quickly.