Question 1

What else can you tell me about Private Lending Group?

Accepted Answer

Private Lending Group is a reputable private lending company in the Chicagoland area known for fast and efficient services. Our team has decades of experience and has collectively closed over $250,000,000 in loans for thousands of successful real estate investors.

Question 2

How fast can your private lenders close?

Accepted Answer

Private Lending Group can often close loans in as little as 7 days, depending on the loan type, property, and required documentation.

Question 3

What is your maximum loan to value (LTV)?

Accepted Answer

Maximum loan-to-value ratios vary based on the property type, borrower qualifications, and project details. Contact us for current lending guidelines.

Question 4

What is the minimum credit score you will accept?

Accepted Answer

Many of our loan programs do not require a minimum credit score. Each loan is evaluated based on the overall strength of the deal and collateral.

Question 5

What are your loan origination fees and interest rates?

Accepted Answer

Loan origination fees and interest rates vary depending on the loan program, borrower profile, and property. Contact us for a customized quote.

Question 6

What types of properties will your private lenders work on?

Accepted Answer

We lend on a variety of residential and commercial investment properties, including fix-and-flip projects, rental properties, and distressed real estate.

Question 7

In what areas do you lend?

Accepted Answer

We provide private lending solutions throughout many states and markets. Contact us to confirm lending availability in your area.

Question 8

Is an appraisal required?

Accepted Answer

Some loan programs may not require an appraisal, while others do. Loan requirements vary depending on the property and transaction.

Question 9

Do you charge prepayment penalties?

Accepted Answer

Prepayment penalty requirements depend on the loan product selected. Contact us for details regarding your specific loan scenario.

Question 10

Do your private lenders lend money for repairs?

Accepted Answer

Yes. We offer financing solutions that can include repair and rehabilitation funds for eligible real estate investment projects.

Question 11

Do you provide proof of funds letters?

Accepted Answer

Yes. Proof of funds letters may be available for qualified borrowers and investment transactions.

Question 12

Do I need to have a property under contract before applying for a hard money loan?

Accepted Answer

No. You can contact us before securing a property to discuss financing options and receive guidance on the lending process.

Question 13

Do you require a down payment?

Accepted Answer

Down payment requirements vary based on the loan program, property type, and borrower qualifications.

Question 14

Can the points, closing costs, and interest be rolled into the loan?

Accepted Answer

In many cases, certain costs may be financed into the loan. Eligibility depends on the loan structure and property value.

Question 15

Are there any upfront fees, application fees, or inspection fees?

Accepted Answer

Fees vary by loan program and transaction type. Contact us for a detailed breakdown of any applicable fees.

Question 16

How do I submit my loan to you?

Accepted Answer

You can submit your loan request online, by email, or by contacting our lending team directly to begin the approval process.

Question 17

Is your process fast?

Accepted Answer

Yes. Our streamlined approval and funding process allows many loans to close within days instead of weeks.

Chatham, Chicago IL

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How to Get a Hard Money Loan: A Step-by-Step Guide for Real Estate Investors

Chatham, Chicago IL

Chatham, Chicago IL

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Contact Us