Northwest Private Lending offers various hard money loan types designed for investment and commercial purposes.
Fix and Flip/Rehab Loans: These serve buyers purchasing single-family homes, duplexes, multiplexes, or commercial buildings requiring restoration. Borrowers typically aim to renovate and quickly resell for profit or refinance for long-term retention. Lenders generally provide 80% of the purchase price, expecting borrowers to contribute down payments and renovation funds.
Bridge Loans: These provide quick capital access for purchasers lacking sufficient down payments. Borrowers with equity in other properties can leverage that equity to bridge payment gaps through cross-collateralization, allowing lenders to use multiple properties as loan collateral. This arrangement commonly facilitates transitions between property purchases and sales, particularly in 1031 exchanges.
Short-Term Loans: Defined as loans lasting 24 months or less, these represent the company's specialty. Most private money loans through Northwest Private Lending range from one month to two years in duration.