Borrowers

BRIDGE LOANS

Often, investors need interim financing, or a “Bridge Loan,” to give them time to achieve their next step while personal capital isn’t available yet. The terms of this loan are very similar to our Fix & Flip Loan, however, no funds will be allocated towards construction and instead, a lump sum amount will be paid. We offer this loan for six months, but there is no pre-payment penalty if it is paid back sooner. This provides our investors with ultimate flexibility on a Bridge.

FIX & FLIP LOANS

Combines traditional hard money with rehab draw schedules for distressed properties being bought with the intention to renovate. This loan is quickly becoming a popular option and ideal for any investors who are looking to get a great deal quickly to fix the property up and resell at a higher price.

One of the greatest things about private money lending is the speed in providing funds, primarily because we operate differently from traditional lending institutions. At OKC Funding Link, we focus more on the value of the property being used as collateral rather than credit history or financial situation, which allows for faster evaluation. Our loans are short-term and intended for real estate investments or projects that have the potential to generate quick returns. This short-term nature and clear exit strategy contributes to our ability to have faster funding decisions. We can close in as quickly as 4 days from final receipt of requested items.

There are no fixed fee schedules. However, our loans typically incur 3-5 points. These points may need to be paid upfront, though we may allow them to be added to the loan amount. Other fees may include inspection/evaluation, doc prep, underwriting, and application. All applicable fees will be disclosed to you in advance.

State and federal regulations impose strict requirements for disclosing information related to consumer mortgage loans, including details about fees and interest rates. Due to this, OKC Funding Link do not offer loans for primary residences.

No, there are no prepayment penalties. However, we require a minimum of 2 months interest to bridge and fix and flip loans.

To get started, you will fill out our “submit your deal” form. We will review your deal to determine if it meets our lending guidelines and discuss your specific needs.  Before any underwriting, you will receive a term sheet for acceptance. As part of underwriting, we will send you a list of items needed as will as the timeline for those items

Typically no, our hard money loans involve interest-only payments with a balloon payment due within 6 months, requiring the full principal to be repaid at that time.

We know if can be difficult to find rehab loans. That’s why we have created a lending structure to accommodate those costs. After submitting your deal, we’ll examine the details and provide a loan amount as well as discuss a potential draw schedule for rehab cost if that is something you request. The draw schedule is typically divided into phases whereas more money is released once certain requirements have been met. (i.e. roof inspection complete, flooring complete and inspected, etc.) At this time we do not lend on new construction.

We will provide pre-approval letters upon request for $125. If you close on the property, such amount will be credited back to you.