The Pinewood Financial Experience
Pinewood Financial encapsulates the natural evolution of private lending; offering both short-term and long-term financing, as well as mezzanine financing and other products to our clients- allowing us to grow with our clients and provide one stop shopping for all of our client’s financing needs. At Pinewood Financial, we aim to enhance your success by using our experience and resources to help you execute on opportunities as they present themselves.
How to apply for a loan
As indicated, at Pinewood Financial, we take a holistic approach to risk assessment and we aim to respond to our clients in an efficient and expedient manner. With these objectives in mind, we have created a streamlined application and underwriting process that allows us to assess a transaction and respond as expediently as possible.
Frequently Asked Questions
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Are you Direct Lenders?
Yes, we are direct lenders. As such, all investment decisions are made internally, which provides us greater agility.
What is a private loan?
A private loan is a loan funded directly by private parties, and, most often, is secured by real property. These loans are used by real estate investors when they are unable to, or do not have the time to, obtain financing from traditional sources.
What are your standard short term loan terms?
In general, our standard short term loans are for 3-24 months. The interest rates range from 8-12% per annum and 2-5 points. The rates earned on a transaction falls is determined by the risk analysis performed for that specific transaction.
What are your standard long term loan terms?
Our long terms loans are meant to replace bank loans and are usually for a 1-30 year period. The terms of these loans are more flexible and are customized to facilitate a specific transaction.
How do I know if I should apply for a short term or long term loan?
Which loan you apply for is dependent on how long you need the loan for and/or how quickly you need it. The purpose of offering a full suite of services is to be able to build a loan package that suits the requirements of a specific transaction. Regardless of which loan you apply for, we will work with you to structure a package that best suits your needs, both current and longer term.
Do you loan on the As-Is Value or the After-Repaired Value?
We will loan on both, however the loan to value differs.
Do I need to provide my own capital?
In the normal course, we like our clients to have “skin in the game” however, when considering our alternative products, we may be able to structure a deal that does not require any upfront financial participation.
What is Pinewood Financial looking for when considering my application?
At Pinewood Financial, we take a holistic view to risk assessment, which means we look at the borrower, property, neighborhood, as well as the potential and the track record of the client.
Is my credit score relevant?
Your credit score is not, in any way, determinative, but it does factor into the overall risk assessment.
Do you provide proof of funds: Yes, we provide proof of funds letters to clients?
Will you fund acquisitions of projects outside of the GWA: Our expertise and experience is focused on the Greater Washington Area, thus our ability to quickly and confidently assess risk is tied to this geographical area. Although our focus is in the Greater Washington Area, as your real estate partner, we will entertain transactions in other jurisdictions, and try to assist you, through our vast networks, get your deal done.
How fast can you approve a transaction?
We can approve a transaction within 24 hours of receipt, in the right circumstance.
How fast can you close a transaction?
How fast we close your loan is very fact dependent, and also depends on you. While we have closed loans in as little as 3 days before, we suggest allowing 5-90 days, depending on the loan product being procured.
What if there is already a mortgage on the property?
Our short term and long term loans must be secured as a first deed of trust on title. When considering other alternatives, such as mezzanine financing, we will take a second mortgage position.
Do you require a personal guarantee?
Will you loan on an owner occupied or second home?