LOAN PROGRAMS
Buy to Flip
Buy to Rent
Transactional Funding
Cash Out Refinance
New Construction

LOAN BASICS
Lending Area – Minnesota

Property Type – Residential single family houses, condominiums, town houses & 2-4 unit multifamily.

Loan Size – $25,000 to $500,000

Lien Position – First mortgage only

Borrowers – We don’t make loans to individuals for personal, family or household purposes.

Multiple Loans to One Borrower – Yes

OUR LOAN ADVANTAGES
Loan Term – Some lenders give you only 6 months to pay off the loan (and then charge you more points & a higher rate). We don’t rush you. We give you one full year allowing you time to do it right & saving you money if there are delays with renovation, resale, etc.

No hidden or junk fees – Many lenders charge you application fees, property analysis fees & repair draw inspection fees totaling $1,000 or more. We don’t. It’s your money & we help you keep more of it!

We have many loan programs to fit your needs. Are you an investor who buys, renovates & resells houses? Building a rental portfolio? Do you have properties with equity & want to get cash out for other investments? Are you a wholesaler who needs money for just a few days? New construction is booming again – need money to build a new house? We can provide the funding you need to benefit from the opportunities you find!

The Berkley Group makes private money loans and hard money loans in Minnesota to investors who buy, renovate & resell houses. If this is your business model, then you know how much capital it takes to have one or several projects going at the same time. And what do you do when a great deal comes along & you don’t have the capital to buy it or you have all your money tied up in other projects? That’s where a hard money loan from The Berkley Group comes in. We can provide you the money to buy & renovate the property so you don’t miss the opportunity. Many times, we can lend you 100% of the purchase price, closing costs and renovation costs, which means you bring no money to closing.

Here’s an example. You’ve located a single family home that’ll be worth $200,000 after you renovate it. You can buy it for $95,000. It needs $25,000 in repairs and your closing costs to buy it will be $1,000. The Berkley Group can lend you up to 65% of the after-repaired value ($200,000) which is $130,000 ($200,000 x 65%). We will wire $130,000 directly to the title company. After they pay $95,000 to the seller, deduct $1,000 for closing costs and deduct $5,070 for our loan discount points (3.9% of $130,000) there’s a remaining balance of $28,930 that’s held at the title company to be used by you as a repair draw account. In this example, you’ll have $28,930 which can be used for repairs, which you’ve estimated at $25,000, giving you $3,930 in excess funds for any unforeseen expenses. With a hard money loan from The Berkley Group you’ve purchased & renovated a property & made a nice profit on the resale – without bringing money to closing.

Don’t be short of capital when you need it. Get a Pre-Approval or Apply Now for a hard money loan from The Berkley Group. It’s fast. It’s easy. And you’ll have all the money you need for your next investment!

If you’re an investor who prefers cash flow & long-term appreciation, a hard money loan from The Berkley Group can help you grow your rental portfolio. As you know, traditional banks & mortgage companies have tightened their lending guidelines making it more difficult to obtain loans on rental property. When they will lend to you, they typically require 25 to 30% down & will loan only to the most-qualified of borrowers (lots of assets, high income & high credit scores). And what if the property needs work? Then it’s even more difficult to get a traditional loan.

A hard money loan from The Berkley Group can help you buy a property that needs work, provide you funds to renovate it & give you time to get it rented & cash-flowing. You’ll now have a cash-flowing property in great condition that you can refinance with a traditional lender at a lower interest rate & for a longer term, locking in profits for you month-after-month, year-after-year.

Have access to the capital you need to build your portfolio. Get a Pre-Approval or Apply Now for a hard money loan from The Berkley Group. It’s fast. It’s easy. And you’ll have all the money you need to add that next rental property.

Sometimes in real estate investing you just need money for a short time. Maybe you’re a wholesaler who gets a property under contract & assigns the contract to another investor. It’s scheduled to close in 5 days. The night before the closing the investor calls & tells you he can’t buy the property because another property that he was selling was supposed to close but didn’t, so he doesn’t have the money. You have a seller who thinks they have a solid buyer & a guaranteed closing. Now what do you do? Instead of potentially losing the deal by renegotiating with the seller, get a hard money loan from The Berkley Group, close on the property, then find another investor to sell the property to. You’ve just saved your profit!

Or maybe you’re an investor who redeems on foreclosures. You’ve located a property that you can buy but it’s in foreclosure and the redemption period ends tomorrow at 4:30 p.m. It’s a great deal that will make you $50,000 but you need $175,000 tomorrow to redeem it. You have a relationship with a local bank & know they will lend you money, but they can’t do it in one day. Getting a hard money loan from The Berkley Group will get you the cash you need to redeem the property and give you time to obtain a loan from your local bank. You’ve saved your profit!

Having quick access to capital allows you to profit from last-minute opportunities when other investors can’t. Get a Pre-Approval or Apply Now for a hard money loan from The Berkley Group. It’s fast. It’s easy. And you’ll have all the money you need profit from any opportunity.

What do you do when you own a property free & clear or have lots of equity in it and want access to your equity to make other investments? With a hard money loan from The Berkley Group you can refinance the property, pull cash out & use it for any purpose you want. We can even put several of your properties under the same loan to allow you access to more of your equity.

We work with investors who may have just completed renovating a property & have  their money tied up in it. Many times they want to get cash out to buy & renovate another property. A hard money loan from The Berkley Group gives them access to the cash they need to make another investment & make more money.

Have access to the capital you need to make additional investments. Get a Pre-Approval or Apply Now for a hard money refinance loan from The Berkley Group. It’s fast. It’s easy. And you’ll be able to put your equity to work to make you more money.

As you know, the real estate market’s improving and it’s getting harder & harder to find renovation opportunities. Many investors have turned to buying an older property, tearing it down & building a new home on the lot. If you’re an investor who’s been struggling to find properties to renovate, you may want to consider new construction.

Having difficulty finding properties to renovate? Maybe building your own opportunity is the answer. A hard money loan from The Berkley Group can provide the capital you need to buy an existing property, demolish it & build a new home. Get a Pre-Approval or Apply Now for a hard money loan from The Berkley Group. It’s fast. It’s easy. And you’ll have the money you need to build your next investment.

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