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: Short-term loans are the company's specialty. Business-purpose (non-owner-occupied) loans are generally written for 2 years, and owner-occupied loans (Oregon and Idaho only) generally for 5 years. When a loan is in good standing at maturity and the borrower wants to keep it longer, we extend it for free.
Every deal is a little different. If your situation does not fit neatly into one of the programs above, call us at 503-941-5473 and we will tell you plainly whether we can help.