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Creatie Finaning
Our Goal is to Continue Helping Investors Buying, Fixing, Building and Improving Neighborhoods Nationwide
WHY US
We offer a full-service Private Money platform that will help you through your entire deal from application to closing. You don’t have to make any awkward phone calls to strangers for funds or worry about drafting documents, the HUD 1 statement, or pulling title.
Heritage Capital Investments can help provide Borrowers with funding on all deals. We specialize in non-owner-occupied investors looking for funding on non-owner occupied residential and Single Family Homes, 1-4 Units. All Heritage Capital Investments loans are evaluated with asset-based standards, as opposed to the conventional standards utilized by banks and other institutions. That means that even things like bad credit and not meeting the stringent requirements and guidelines of banks and more traditional lenders, you can still quickly and confidently make offers on real estate deals. Heritage Capital Investments is building a record in private money lending and works primarily with individuals who put a premium on trust. Our mission is to provide capital to real estate investors allowing them to gain financial freedom through profitable real estate transactions.
HOW IT WORKS
We Offer Loans with NO Appraisals
HOW IT WORKS
Private Money Lending with Heritage Capital Investments is convenient to find a loan for anything real estate. Through our network of lenders, we help people borrow as low as $30,000 for regardless of your exit strategy. At no charge, we connect consumers needing fast, hassle-free Financial assistance with reputable lenders. You can get your funds quickly, sometimes in as little as 2 - 4 Weeks to Close.
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1. Fill Out Application
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2. HCI reviews the application and verifies the information
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3. Our Network of Lenders are notified of the Loan request
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4. HCI connects you with the reputable lenders in the market
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5. Once the loan is approved and closing documents are processed, loan is dispersed to you.
Fill Out Application
Once You will out the Application. Our Agen reviews the application and Information
Interview
Once we complete the application verification, we will contact you to setup and appointment with the lenders in our Netowrk
Get Money
Once all the formalities are complete, you get the Money for your Project
How It Wokrs 1
Why Us
To get the loan of our dreams, we went with Heritage Capital Investments. I have a hard time believing a bank could deliver experience like Heritage.
John
F A Q
FAQ
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1. Can I use my free and clear property to do more investing?Yes. It may be used as cross-collateral or used for a cash-out refinance. That is a great strategy! If you have properties that are completely paid for with no liens against them, most lenders can do a cash-out refinance to provide funds for other investing. You can also use them as cross-collateral for your real estate investing. Lenders use both your subject property and your free and clear property as security for the loan. In doing that many lenders can lend up to 65% of the as-is combined value of the wo properties. That is often enough to purchase your subject property and rehab it. If you have free and clear properties, mention that on your next deal!
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2. I need 100% financing. Can you do that?YES! including purchase price, closing cost price, rehab cost. we start at 1 point and 8% contingencies
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3. Where can I find a good deal?Look for people that have a need to sell and get to them before your competitors do. The simple answer is wherever you have little competition. The harder they are to find, the less competition you will have and the better your chances for a good price. It requires work, but it is work that can end in a deal with profit, as opposed to work that spins wheels but never gets a profitable deal. For instance, talk to probate attorneys or divorce attorneys, find ugly houses, contact out-of-state owners, etc. Be creative!
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4. Will you lend for both the purchase and the repairs?Yes, for the right deals. If the numbers work and we expect you to be able to make a profit, we will loan on ARV. We recommend you have solid experience doing or managing such repair work. You will need to supply licensed contractor bids, as well as meet certain other requirements. Bring us the deal and let’s discuss it.
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5. How can I do deals in my IRA?By using a true self-directed IRA, making all legal payments from it and depositing all complying profits into it. You should seek legal and financial advice first. You must have a true self-directed IRA. There are many IRA administrators that offer such accounts. Then you buy the property in the name of the IRA, furnish the earnest money from the IRA, apply for the loan in the name of the IRA, pay all costs from the IRA, and put all the profit back into the IRA. This is a topic that requires much more detail than we have room for here. Please contact your legal or financial advisor for the details. Also search online for self-directed IRA custodians to learn more about your options.
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6. Why do I need to buy an appraisal when I have a CMA or an existing appraisal?Many lenders require a recent (less than 90 days), independent, standards-based, 3rd-party, as-is evaluation of every property used as security. BPOs, CMAs or outside appraisals do not generally satisfy all those requirements. If you have a recent as-is appraisal, you can pay for one of our appraisers to do a desk review instead. Your best bet: Go with ours. They are performed by local appraisers in your market, working at competitive rates…and doing the appraisal the way we need it to be done. The appraisal report will come to us and you will receive a copy.
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7. What are your rates and loan origination fees?Many of our lenders loans are asset-based and our decisions are logic based. That means our lenders base the decision about funding and rates on the perceived risk associated with the property. If you have a property under contract, submit it. Rates are competitive in the private money market. Get started today to become one of those repeat, best clients! Get a property under contract and submit it!
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8. Why is it difficult to lend on owner occupied properties?Legal and regulatory reasons. Most lenders business model is to provide bridge loans to real estate investors for terms ranging from 3-24 months. Almost no homeowners need such a short loan. As a result, many lenders feel it is not cost-effective to implement the complex and restrictive processes and rules required by regulatory agencies to do business with owner-occupants. But we have lenders for owner-occupied situations too. Give us ca call!
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9. Is credit the deciding factor in Cogo’s decision?No. Our loans are asset-based. We base our loans on the value of the asset, not on your credit score, income, or the size of your debts. However, a good credit score can potentially get you the best rates.
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10. How long does it take to close a transaction start to finish?Three to four days after we receive all required documentation, which can often take 3-4 weeks. Though we can do it faster, a good estimate would be 3-4 weeks after we receive the basic application package. The key factor is the amount of time it takes you and your team to supply all the supporting documentation. We can do our part in 3-4 days, but first-time borrowers rarely get us the documents quickly enough and complete enough to meet that. Go for 30 days or more whenever you can. Remember: If time to close is a factor, you probably have competition. Competition does not usually translate into a good deal. Forget such a deal and go find a good one! (Admittedly, sometimes other factors dictate closing time. If that’s the case, bring us the deal and let’s discuss it!)
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11. I am a sole proprietor. Can I still get a loan?Yes, if you create an LLC, a corporation, an IRA, or a trust before the close of escrow.
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12. I am seeing a lot of good deals on auction sites and at live auctions. How can I procure funds to have cashier’s checks ready to pay for the property at the auction?Our funding is solely based on properties you already control via ownership or contract. We cannot provide cash in advance for auctions that require immediate payment. Since all loans are asset-based, we must have a lien as security on property you own. The primary ways to do what you ask are for you to have another property that is free and clear and you take out a loan against it. Alternatively, you can find a professional auction bidder who will supply the bidding presence and the purchase cash in exchange for a fee (often $5-10 thousand or a percentage) with the rest of the funds paid later at close of escrow.
Visit Us
CONTACT
US
Tel. (773) 869-6649
Fax. (773) 257-7541
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1249 E. Burville Rd # 1
Crete, IL 60417
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VISIT
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Monday - Friday 9:00 - 17:00
Saturday 8:00 - 17:00
Sunday 10:00 - 17:00
TELL
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