High Loan to Value
Watershed offers a loan to value (LTV) of 65% of the after repair value (ARV) of the property -- which means you will need very little cash at closing if you buy the house at a low enough price.
Watershed has ample lending capacity to meet our future needs. When we make a loan committment, we always have the funds available when you need them.
There is no limit on the number of loans you can make through Watershed as long as you have established a good payment history.
Fast processing is critical to your ability to buy properties from sellers who want their money yesterday.
With Watershed you normally will receive preliminary loan approval on a property within 24 hours.
Once preliminary approval is received, we usually can close a loan within 2 days after we receive the title commitment, rehab budget report, appraisal report, and rehab bids if required by our inspector.
Draw inspections are normally made the day after you request a draw. Draw funds are wire transferred to your bank account the day after the draw inspection is made.
Low Cost Hard Money Loans With No Hassles
You don't need to furnish income statements, financial statements, or income tax returns to become an approved borrower under Watershed's loan program.
You only need to fill out a 1 page "Borrower Application Form" and mail or deliver it to us with a $25 application fee.
Watershed provides full disclosure of its fees. Other hard money lenders quote a low fee in their marketing material, but have 'junk fees' that can add up to well over one thousand dollars.
We provide more services to inexperienced rehab investors than any other company. For example, our inspector and project advisor can give you advice and guidance regarding the rehab, update, or remodel of your properties so you don't make costly mistakes.