Riverdale Funding’s Latest Hard Money Loan in Virginia
Jul 05, 2016
Helping Borrowers in Virginia – Our Most Recent Hard Money Loan
Riverdale Funding provides hard money loans to commercial real estate investors and mortgage brokers throughout the State of Virginia and across many other states in America. We have helped many of our clients get the necessary funding they seek for various types of commercial investment properties. Riverdale specializes in providing commercial real estate loans in Virginia for time-sensitive deals requiring a fast close like a foreclosure bailout and cash-out refiance on deals other lenders turned down.
One of our most recent loans was provided to a borrower in Virginia; the borrower was able to secure proper funding within just a few weeks’ - from application to loan closing.
If you are looking for a commercial real estate hard money lenders in Virginia, fill out our simple application form online to get started and an expert Account Executive will contact you shortly.
Securing Hard Money Loans in VA
A recent loan we funded in Virginia is a great example of the expedient loan process our borrowers experience after they apply for a hard money loan with Riverdale Funding. Once this borrower filled out the online application, our experienced mortgage and real estate team quickly evaluated the property and loan proposal, responding with an attractive solution that the borrower accepted.
In this example, upon loan accepted, the borrower was approved for a $600,000, backed by his investment property located in Virginia. The borrower had a balloon mortgage in which the term duration was ending. A balloon mortgage is a short term mortgage in which monthly payments are paid, and the final principal is due at the end of the loan’s duration (usually within a 10 year timeframe, instead of the normal 30 year structure).
With little time to apply for a traditional refinancing option, the borrower decided that hard money loan was his best solution. Finding hard money lenders in Virginia isn’t difficult, but locating an experienced lender who can actually commit to what they say, can be. With the quick approval from Riverdale Funding, the borrower was able to settle his balloon mortgage, saving him from foreclosure on the property.
Apply Today For A Hard Money Loan in Virginia
While your commercial financial needs may differ, this recent loan is a great example of how hard money loans can help borrowers. If you are looking for a hard money loan in the State of Virginia, or in another state, our experienced team here at Riverdale Fuding is ready to help.