As Bend’s hard money lender of choice, we proudly serve Sunriver, La Pine, Redmond, Sisters, Madras, Metolius, and Prineville.
Why is First Capital Funding, Inc. considered Bend and Central Oregon’s hard money lending provider of choice?
First Capital Funding, Inc. is a hard money mortgage broker with numerous lending sources to finance your real estate investments.
What does this mean to you?
It means you can have a single trusted source of financing for acquiring, developing and renovating investment properties. And, when you need long-term financing for a stabilized property, First Capital has you covered, with multiple long-term loan options designed to meet the needs of real estate investors.
We find that real estate investors often have complicated circumstances that can make financing a challenge. As each situation is unique, so are the nuances in preparing to submit a loan application. First Capital has worked through countless scenarios with hundreds of borrowers over the years, placing loans and funding projects with both hard money and institutional lenders. We draw on our experienced portfolio of lenders to find the right funding for your project and have a strong track record of successfully finding solutions for even complicated financing situations.
First Capital Funding, Inc. is a leader in providing hard money financing for real estate investors.
Want to learn more about hard money loans?
Go to our Guide to Hard Money Loans.
$100,000 Hard Money Construction Completion Loan in Bend Oregon
Why Choose First Capital Funding, Inc. for hard money financing in Bend and Central Oregon?
Simply put, we know hard money lending. Since its inception in 2013, the company has originated more than 2,500 loans totaling over $2.5 billion. In 2022, the company originated 500+ loans for real estate investors across 23 states.
First Capital has numerous borrowers returning again and again to fund their projects. Many clients originally came to FCTD for one type of loan, like a fix & flip. However, as time went on and needs changed, the company was there to help them navigate their new projects with the right loan. The fix and flip investor may move on to rental properties, a second mortgage, ground up construction, a loan for their primary residence, and maybe a cross-collateral second mortgage. FCTD is there every step of the way.
As mortgage brokers, we aren’t bound to one capital source like a hard money lender. This helps when the capital markets freeze like we saw at the outset of COVID. Many hard money lenders who originate and sell their loans to Wall Street, known as conduit lenders, froze all fundings for a few months. But First Capital shifted loans to mortgage funds, family offices, and individual trust deed investors to keep projects moving forward until the conduit lenders started lending again.
While we’re not always the right option for borrowers, we are very resourceful and help our borrower clients obtain financing for their projects.
$800,000 Hard Money Bridge Loan
What Sets First Capital Apart:
- 500+ loans closed in 2022
- $2.5+ billion in hard money loans closed since 2013
- Licensed in CA, OR, WA, ID, MT, UT, AZ, & FL – for business and consumer purpose loans
- Business purpose lending in: HI, CO, WY, NM, TX, OK, KS, MO, IA, AR, WI, IN, OH, IL, KY, TN, GA, SC, NC, VA, WV, MD, DC, PA, DE, NY, CT, MA, RI, VT, ME, & NH
- Focused on mortgages for real estate investors
- Large network of private money lending sources:
- Individual trust deed investors / high net-worth individuals
- Family offices
- Real estate funds
- Mortgage funds
- Conduit lenders - Drafts the loan docs for 70% of our lenders
- Long-standing industry relationships
- Automated for faster closing
$500,000 Hard Money Second Mortgage
$1,400,000 Cross-Collateral Bridge Loan
What are the Advantages of a Hard Money Loan?
Whether you’re looking to secure financing for a purchase, refinance, or cash-out refinance, here are some advantages to using a hard money loan:
- Speed/Closing Time: If you need to submit a five-day offer for a property or your bank financing fell through at the eleventh hour, hard money loans can close fast. First Capital Funding, Inc. has closed loans in as little as 24 hours in a pinch, but typically take 5-14 days.
- Credit Score Not a Major Factor (but still taken into consideration): If you need a hard money bridge loan, the lender will verify your credit score to see your credit history and if you can obtain long-term financing to pay off the bridge loan. A few blemishes are okay. But a pattern of late payments and several judgments are not a recipe for success.
- Rehab and Non-Stabilized Property Financing: Some properties are in disrepair and don’t qualify for bank financing. Non-stabilized properties may be completely vacant or have high vacancy levels, disqualifying them from a bank loan. This is where hard money bridge loans can help investors buy properties to rehab or stabilize with long-term tenants.
$500,000 Bank Financing Bend Oregon
What is the Pricing, Closing Costs, Interest Rates, Terms and Other Fees with a Hard Money Loan in Bend?
Hard money loans in Bend and Central Oregon usually cost between 2-4 Points for origination fees with an interest rate in the 10 to 13% range. The term of the loan can span three months to 15 years. Additional fees can start at $1,095 for loan documents up to $3,500 for an attorney to draft loan documents for an individual trust deed investor.
Unlike conventional mortgages, there is no one-size-fits all pricing hard money loans. Each loan has unique circumstances that impact pricing.
- Loan Type:
First Capital originates eight types of hard money loans and numerous bank financing programs. The terms and type of loan are influenced by the following factors: - Property Type:
A bridge loan on a single-family home will usually have lower closing costs than a construction loan to build 10 spec homes. - Project Scope:
A cosmetic fix-and-flip project with a $30,000 rehab budget that will be sold in two to three months is much easier than an 18-property cross-collateralized blanket loan against a mix of commercial and residential rental properties. - Funding Source:
There are five different funding sources for private money loans – individuals, real estate offices, family offices, conduit lenders, and mortgage funds. Each has preferences for the property types and scenarios they’ll finance. In turn, their pricing structure will reflect their risk level. - Availability of Capital:
If you have a complicated project, few lenders are willing to take on something with many moving parts, increasing the cost of funds. - Borrower Experience Level:
A first-time house flipper will be required to have a larger down payment, pay more in closing costs, and have a higher interest rate than someone who has bought and sold 20-30 properties every year for the past decade. - Borrower Financial Strength:
Stronger borrowers will have a lower cost of funds than borrowers who are continually defaulting on debt.
For more information on hard money loan pricing, please see our Hard Money Pricing Guide.