Express Capital Financings FAQs
The most frequently asked questions we receive
We understand that some of our customers may have received many no’s from banks and traditional lending institutions. They may feel discouraged and unmotivated when they come to us, expecting the same results. We specialize in saying yes, when other lenders say no. If you are looking for a real estate lender who knows the ins and outs of the industry and can help you close on properties in a timely manner, contact us. In the meantime, please check out our FAQs below.
We know how challenging it can be for landlords and commercial property owners/investors to secure funding for real estate. At this time, we only provide financing to commercial clients/investors who are LLCs and corporations for nonowner-occupied properties.
Credit is an important factor in many lending situations. We understand that many financial institutions will not provide funds to business owners who have less than stellar credit. We encourage all interested individuals who have a business to apply. We do look at their creditworthiness, but there are other aspects of their profiles that we take into consideration. Clients do not need to have excellent credit with us. However, we do require low credit score borrowers to have strong experience with a like-kind project. We accept clients with all types of credit. Please note that some loan types do require a minimum credit score, such as our DSCR Program. If you’re unsure whether the loan program you’re interested in requires a minimum credit score, contact one of our loan officers today to find out.
We have different lending programs and modest funding amounts for commercial real estate investors that include no prepayment penalties and one-year interest-only payments until maturity. Our lowest funding level is $100,000. We are very accommodating towards investors who need more. We can provide as much as $50M in financing.
We do not set income limits for our clients. We know an investor’s income does not give a completely accurate picture of their eligibility. Therefore, We do not require any income verification for any of our programs. Our loans are asset-based which means that we lend on the property's ability to create an income/profit, not based on the borrower’s income.
We provide funding nationwide, with the exception of the following states: Nevada, South Dakota and North Dakota.
Properties that qualify for funding include Residential & Commercial buildings that are intended for investment purposes, including but not limited to, Single Family Homes, Multi Family, Strip Centers, Warehouses, and more! Properties we cannot provide loans for are buildings in rural areas, manufactured/mobile homes, land, co-ops, and owner-occupied residential. If you are not sure if a certain property qualifies, just ask. We’ll be glad to help! If you think you’ve found a good investment opportunity, there’s a great chance we can finance it.
Our closing process can be as short as 2 weeks — after our first deal, we can close in 5-7 days. For time-sensitive deals, we can close in as little as 5-7 days. Our processing clock starts from the initial point of contact.
We do not provide 100 percent funding on all deals. We provide 100 percent financing for rehab expenses. For purchase contracts, we provide up to 80 percent of the purchase price. On rehab properties, we provide financing based on the after-rehab value (ARV). Rehab borrowers can receive 70 percent of their property’s ARV, with a maximum of 90% of the purchase price and 100% of the rehab cost. Costs that borrowers are expected to cover themselves include any overbudget expenses for rehab properties, loan interest, and settlement fees.
We also cater to property owners who do not currently and will not reside in their properties again. Before we can consider them for funding, they must establish themselves as an LLC or corporation.
We welcome borrowers of all experience levels to apply, especially first-timers. We also provide financing with fewer fees to repeat borrowers who maintain a good history with us.
We provide financing to experienced contractors and builders. Stipulations apply.
Express Capital Financing is a first-position lender. We control our funds. We do not need to go to another organization or entity to secure the funding you desire. Because there is no middleman, we create our own criteria. We also process applications faster and provide funding in less time than many other lending institutions. Express Capital Financing takes a more personalized approach to the lending process, which allows us to give more consideration to each applicant’s situation. We often say yes and how much when others say no.
The application process is fast and simple. Ideally, we expect potential borrowers to include in their loan application a deal summary, proposed scope of work, and purchase contract. Depending on the deal, we may also ask for property comparisons. We’ll review your application and contact you right away to discuss your investment opportunity and inform you about lending requirements and borrower expectations.
We do not require any money from you upfront. Appraisals are required for all approved applications. You do not pay any fees until you receive our terms and conditions sheet regarding your deal.
We know that real estate deals are time-sensitive matters. We encourage you to complete the prequalification process to know exactly where you stand with us. Our loan experts do not believe in wasting your time or giving you the runaround. Once you complete the prequalification/preapproval process, you’ll hear back from us within 24 hours. Our loan professionals speak with all borrowers before closing. If you have a question that is not answered here, or you are ready to apply to get the funds you need right away, contact us to let us know. We’ll be more than happy to address your concerns, and clear up any confusion you may have, and get your funding underway.