My hard money niche is from $200,000 to $800,000. Need something larger or smaller? I might be able to refer you to someone who can help.
I will lend on real estate located anywhere within a reasonably populated area in Colorado, not just along the Front Range.
Usually, my loan will be no more than 65-70% of value of improved property and no more than 50% of the value of unimproved land.
Typically, the loan term will be no longer than 2 years. This works for most borrowers since hard money is more expensive than conventional financing and is used temporarily until conventional financing can be arranged or the property sold.
The interest rate can be as low as 8%. The rate is based on the LTV, property type, property location, borrower, etc.
My origination fee for a 6-month loan is 2 points. If a longer term is required, that fee may be higher.
Like convention financing, all my loans are closed by a title company. Fees charged by the title company are the responsibility of the borrower.
No. You can pre-pay the loan at any time without penalty.
I keep paperwork to a minimum. A closing usually consists of only 4 or 5 documents.
Five business days from receipt of the requested information is generally enough time.
Sorry, no. The proceeds of my loans need to be for a business purpose, not for personal, family, or household use.
Chuck and Forrest Financial Group have been the perfect trifecta for us: (1) fast & responsive, (2) rational pricing, (3) and solid, trustworthy people who are good to their word – and getting the cash to closing on time. In our twelve years of buying/renovating/selling homes in metro Denver they are the best “soft hard” money lender we have done business with.
We were introduced to Chuck by a mutual friend. Chuck is very professional and did his due diligence on what he would be lending on. After a quick tour of the community and potential unit he would be financing, he was on board and made the process very easy and straightforward. He met all deadlines and is easy to get in touch with when necessary.
I am very pleased to be a repeat client of Forrest Financial Group. On my last investment, the seller wanted to close before year end. Due to the rapid and flexible nature of Forrest Financial, I was able to close in under 2 weeks, during the holidays, at a deep discount to intrinsic value. I had an extreme advantage over a competitor who was working with a conventional lender. I consider Forrest Financial Group a business partner and can confidently recommend their services.