LendingHome

About LendingHome

LendingHome is a direct private lender focusing on investment residential fix-and-flip, bridge, and rental property loans. LendingHome’s interest rates start at 6.5% and are available for a short term of 12 to 24 months, or a long term up to 30 years. The company offers financing up to 90% of your property value and will consider financing up to 100% of your renovation (rehab) budget. LendingHome is a great option for borrowers looking for short-term, or long-term affordable financing to capitalize on an opportunistic real estate transaction. LendingHome is a nationwide private lender currently providing loans in AZ, CA, CO, CT, DC, FL, GA, IL, KY, MA, MD, MI, MN, MO, NC, NJ, NV, NY, OH, OK, OR, PA, SC, TN, TX, VA, WA, WV. LendingHome funds investment residential property only and does not make owner-occupied home loans.

The firm is headquartered in San Francisco, CA and has funded in excess of $5 billion spread out over 23,000 investment residential projects.

Loan Programs

LendingHome is America’s largest fix-and-flip lender, and provides short-term, and long-term private loans up to $3 million secured by investment residential real estate. LendingHome specializes in delivering financing secured by non-owner occupied 1 to 4 unit residential property. Loan proceeds can be used for purchase, refinance, cash-out, fix-and-flip, or renovation. LendingHome prides itself on having low fees, a simple and fast process, and a flexible and tailored borrowing experience.

Below is a sampling of reasons why a borrower would seek financing from LendingHome:

  • The borrower is a new or seasoned property investor looking to fix-and-flip, purchase, refinance, renovate, or pull cash-out of an investment residential property
  • When short-term, or long-term, competitively priced investment residential real estate financing that can close quickly is required
  • The borrower wants a well capitalized, efficient, affordable, and technology based lending partner to help build or scale his or her investment residential real estate business
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Bridge Loan Program Highlights / Guidelines

A private loan or bridge loan, is a short-term loan that usually assists in bridging a borrower from a less favorable situation to a more favorable situation. For example, a borrower may take out a bridge loan to pull cash-out of his property to pay off lingering debt and improve a low credit score, so he can refinance into a permanent loan. Investment residential real estate collateral is essential to LendingHome’s programs and borrowers without investment residential real estate are not eligible for financing.

Loan sizes up to $3 million

  • Loans secured by non-owner occupied single family, 2 to 4 unit residential, town homes, and condominiums
  • Financing for purchase and rehab (fix-and-flip), renovation, value add re-positioning, bridge to refinance, refinance, cash-out refinance
  • 640 preferred minimum credit score
  • Loan-to-value (LTV) generally up to 90%, and up to 100% of the rehab budget financed
  • 1st lien mortgages only, guaranteed personally and by the borrowing entity (when applicable)
  • 12 to 24 month loan terms
  • Interest rates start at 7.95%
  • Loan origination fees from 0% to 1.5% and closing fees as low as $999
  • Closings can occur in 5 to 15 days
  • Simple 3 minute loan application and no upfront fees
  • Online application, underwriting, and draw process easily navigated through your own borrower dashboard

Rental Loan Program Highlights / Guidelines

Loan sizes up to $3 million

  • Loans secured by non-owner occupied single family, 2 to 4 unit residential, town homes, and condominiums
  • Buy-and-hold financing for purchase, refinance, or cash-out refinance
  • 680 minimum credit score
  • Flexible loan-to-value (LTV) ratios
  • 1st lien mortgages only, guaranteed personally and by the borrowing entity (when applicable)
  • 3, 5, 7, and 30-year fixed mortgages available
  • Interest rates start at 6.5%
  • Cash-out up to $500,000 available after 6 months
  • Closings can occur in 5 to 15 days
  • Easy 3 minute loan application, no upfront fees or hard credit pull

The Loan Process

LendVer did not shadow the application or loan process for LendingHome but its website offers basic information about how to get started. Applicants are encouraged to fill out a short online loan application to get started.

Documents you will need to get started include:

  • Business entity documents (if applicable)
  • Scope of work if rehab funds are being requested
  • A voided check for the account you want to receive loan funds

Assuming the application information and documentation provided to LendingHome is amenable, loan closing typically occurs within 5 to 15 days. LendingHome has in-house underwriting, processing and servicing which helps expedite the loan process, but a third-party valuation and/or property inspection will be required. The entire loan process can be conducted and monitored through your borrower dashboard.

Pros

  • LendingHome can fund up to $3 million for a variety of investment residential financing purposes, in markets nationwide.
  • LendingHome is America’s largest fix-and-flip lender and has provided in excess of $5 billion spread out over 23,000 investment residential projects.
  • LendingHome offers high loan-to-value (LTV) financing up to 90%, and up to 100% rehab budget financing.
  • LendingHome operates a simple, fast, and efficient technology based, paperless, borrowing platform that enables it to fund loans in as fast as 5 to 15 days.

Cons

  • Larger loans in excess of $3 million are not available through LendingHome.
  • LendingHome presently only lends in 27 states plus Washington, D.C.

Why LendingHome is the Best

LendingHome is America’s largest fix-and-flip lender, and since its inception in 2013, has provided in excess $5 billion spread out over 23,000 investment residential property projects. LendingHome’s online, technology based loan process makes borrowing simple and efficient, and eliminates the aggravation that can come working with traditional lenders. LendingHome offers affordable bridge loans with rates starting at only 6.5%, and low loan points. Property investors with greater than 5 projects in the past 24 months, and higher credit, will be rewarded with better terms, additional benefits, and faster closing times.

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