Loan Options

 

Investment Property Loans

Investment property loans such as shorter-term loans and wholesale loans are best used when the investor buyer is purchasing a property and either has another buyer already lined up to buy the property or expects to have a quick sell. Worcester Financial is an asset based lender and will entertain all loan opportunities.

 

Features of Investment Property Loan Program:

  • Term 6-12 months (Individual loan circumstances may apply)
  • Loan amounts up to 75% LTV of the current “as-is” value
  • Rehabilitation loans available with loan amounts up to 65% ARV
  • Most property types considered (No raw land, no residential owner occupied properties)
  • First Lien Mortgage Position
  • Interest Only between 12%-16% (annualized)
  • Small origination fee usually between 4%-6%

 

Rehab Loans

One of the most common scenarios for real estate investors in greater Kansas City and across the U.S. is execution of the buy, rehab and rent strategy. Our “Rehab and Refinance Loan” is the perfect tool to help the buy-and-hold investor with their investment purchase.

Note: While Worcester Financial LLC is generally an asset-based lender, in the Rehab and Refinance Loans borrower credit and or financials may be reviewed and are usually a determining factor (since refinance is the main exit strategy).

 

Features of Rehab Loan Program:

  • Term 6-12 months (Individual loan circumstances may apply)
  • 4-6 points (Points based on total loan amount, minimum fees do apply for smaller loan sizes)
  • 11%-16% interest rate (annualized)
  • Loan amounts up to 65% ARV – after repair value of the property (Borrower down payment may apply)
  • For “refinance” to be an acceptable exit strategy, the borrower may be required to pre-qualify for a refinance with a mortgage broker or lender prior to closing.
  • No minimum loan amount
  • Most property types considered (No raw land, no residential owner occupied properties)
  • First Lien Mortgage Position

 

Fix & Flip Loans

Do you want to flip a property? Our rehab and flip loans might be the best option for the investor who is buying, rehabbing, and then reselling the finished property.

Worcester Financial is an asset based lender. Borrower credit and/or financials may be reviewed but are usually not a determining factor.

 

Features of Fix & Flip Loan Program:

  • Term 6-12 months (Individual loan circumstances may apply)
  • 4-6 points (Points based on total loan amount, minimum fees do apply for smaller loan sizes)
  • 12%-16% interest rate (annualized)
  • Loan amounts up to 75% LTV or 65% ARV (Borrower down payment may apply)
  • Rehab funds are escrowed at closing and released on a draw basis as work progresses
  • Our rehab and flip loans are asset-based and are not dependent on borrowers’ credit
  • Borrower credit is reviewed for our rehab and flip loans but not a determining factor for a loan
  • No minimum loan limit
  • Most property types considered (No raw land, no residential owner occupied properties)
  • First Lien Mortgage Position

Our Customers Are Our Priority

“Paul and Joel were easy to work with and honest throughout the purchase process. We were able to close the transaction successfully. I look forward to working with them in the future.”

-- Aaron Mesmer, Block LLC

Our Mission

Worcester Financial is dedicated to providing financial loan solutions for borrowers who need private financing. Unlike conventional lenders, we can think outside of the box to tailor a loan that suits the needs of the borrower and the requirements of our investors.

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(816) 291-4146


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