WHAT ARE SHORT SALE LOANS?

Real estate investors can use short term loans, or bridge loans to save properties facing foreclosures. When an investment property faces foreclosure, Oncepts Lending private money lenders offer short sale loans pay off the loan for less than what a borrower owes.

A short sale loan may be used as an alternative to a foreclosure. Some real estate investors use short sale loans to purchase foreclosed properties as well. Short sale loans are used when a real estate investors can’t make the property payments and offer to pay the loan off for less than what they owe.

Banks or lenders lose money on every foreclosure and make up the loss with a short sale loan than in the foreclosure. Oncepts Lending private money loans such as bridge loans and short sale loans help lenders, investors, and property owners retain as many assets as possible.

ABOUT SHORT SALE LOANS

Short sale loans are a special loan that requires speed and care. For real estate investors, not all private money lenders, or private money loans are made equal. For investors facing foreclosures, short sale loans can be an answer to all their funding needs. If you need a short sale loan for your investment, having access to fast Oncepts Lending private money loans is a necessity.

WHY WOULD YOU NEED A SHORT SALE LOAN?

There are two circumstances where a short sale loan might be needed. First, is if you are a real estate investor and can no longer afford to make the mortgage payments but want to keep the property. A short sale loan will damage your credit but not as much as if you allowed the home to go into full foreclosure.

Second, you could also purchase a home through a short sale loan, you’ll most likely be getting it at a discounted price. Many potential house flippers and real estate investors track homes that are going into foreclosure, and they reach out to Oncepts Lending private money lender to make an offer on the home.

As stated above, it’s not the ideal situation for the short sale lender, but it more often than gives the lender the chance to get rid of the property and lose as little money as possible. Oncepts Lending private money loans can help investors acquire properties with short sale loans. Unfortunately, just because you’re getting the property at a discounted price does not mean you’ll get it quickly. A short sale loan can often take more than a month to complete.

HOW IT WORKS

Investors and property owners can trust us to provide a clear pathway to loan access. Every application we receive is treated with great urgency. At Oncepts Lending, we will do our best efforts to say Yes, we can fund your loan.

1. APPLY

Our loan application is simple and straightforward. Complete the application, making sure to provide answers to all mandatory questions and receive a tentative quote within 12-24 hours. When you click submit, you will receive confirmation that acknowledges that we have your online application.

2. REVIEW

After submission, one of our experts will contact you. We will go over your project and send you an email with all of the required documents needed to go to the next step. The email will include a link to our Hercutainer for secure document submission. Your new login and password will be included in the email. It is your responsibility to keep that information secure and confidential. All documents sent to us must be uploaded using Hercutainer. Oncepts Lending is not responsible for any loan documentation sent to us via email or fax. Client accepts and assumes all liability for any loan documents sent to us via email or fax.

3. FUNDING 

Once you’ve met all underwriting conditions and requirement and your file is approved, we will contact you to schedule a time for you to sign all required loan documents. Our goal is to get you funded fast, and get your project going.

SELL IT OR RENT IT 

When your project is complete, sell it or rent it. Take your profit or your cash flow, and move on to the next challenge.

Whatever your loan requirements may be, we have unique funding solutions that fit your needs. Including unconventional loan types that normal banks will not typically fund, like rehabs, mixed-use and investment properties.

We help clients build a bright financial future through real estate. Let us help you every step of the way. From application to funding, let our full-service team work to bring you the best programs and fund the best deal possible. Let Oncepts Lending be your lending partner. Contact your Oncepts Lending authorized representative to get started today.