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 Short-Term Loan Programs:

  • Term 6-12 months (Individual loan circumstances may apply)
  • Loan amounts up to 100% LTV of the current “as-is” value
  • Rehabilitation loans available
  • Most property types considered (No raw land, no residential owner occupied properties)
  • First Lien Mortgage / Position
  • Interest Only
  • Small origination fee usually 1.5%-6%
  • Low servicing fee .5% per month

 

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 & Refinance Loans:

  • Term 6-12 months (Individual loan circumstances may apply)
  • 2-6 points (Points based on total loan amount, minimum fees do apply for smaller loan sizes)
  • 10%-16% interest rate
  • Loan amounts up to 65% LTV of after repair value of the property (Borrower down payment may apply)
  • Interest reserve is included in the loan at closing
  • For “refinance” to be an acceptable exit strategy, the borrow must pre-qualify for a refinance with a mortgage broker or lender prior to closing.
  • No minimal loan amount
  • Most property types considered (No raw land, no residential owner occupied properties)
  • First lien Mortgage/ Position

 

Rehab & 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 Rehab & Refinance Loans:

  • Term 6-12 months (Individual loan circumstances may apply)
  • 2-6 points (Points based on total loan amount, minimum fees do apply for smaller loan sizes)
  • 10%-16% interest rate (Annual)
  • Loan amounts up to 65% LTV of after repair value of the property (Borrower down payment may apply)
  • Rehab funds are escrowed at closing and released on a draw basis as work progresses
  • Interest reserve is included in the loan at closing
  • Our rehab and flip loans are asset-based and are not dependent on borrowers’ credit
  • Borrower credit is not reviewed for our rehab and flip loans
  • No minimal 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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