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Your Source For Private Money
1Apply for Funding
Submit your application to us so that we can get the loan started as quickly as possible!
2Secure The Loan
Now it’s our turn: Our team reviews your application and contacts you for additional information and paperwork. Once all is in order, the magic happens: Your funds will be cleared, allowing you to proceed with your real estate opportunity.
3Finalize Your Real Estate Deal
Now, you can proceed with your real estate opportunity with complete confidence. Our team is always here and ready to help you make profitable future decisions. Apply today and secure real estate funding for your next project!
OUR REQUIREMENTS
Initially, we usually recommend a brief chat over the phone before we truly get started. The application process is fairly brief and only requires a couple of questions, but as you already know, things move quickly when you’re working with Lam Capital Corporation. First, we need to collect your personal details. Second, we discuss your needs; for example, How much money do you need? When do you need it by? Etc.
This often leads us straight to perhaps the most important question of all – What do you need the money for?
Once we’ve reached this step, we typically follow-up with some simple paperwork requests.
Our entire process is relaxed, completely transparent and to be honest, quite empowering for clients and brokers alike. It would be an understatement to say that we’re looking forward to working with you – the truth is, we can’t wait.
Frequently Asked Questions
1How Much Do You Lend?
Our decision is based on the property and the type of transaction. For most residential transactions we will lend up to 90% of the purchase price or 65% of the as-is or after-repair appraised value, whichever is less. We can even lend up to 70% LTV and 100% financing--contact us about that!
2I Need 100% financing. Can you do that?
Yes! Ask us for more details. We can partner with you! Sharing half of a nice profit beats not being able to do the deal! Many of our investors also use seller-carryback to do the same thing.
3What are your rates and loan origination fees?
Our loans are asset-based and our decisions are logic-based. That means we base our decisions about funding and rates on the perceived risk associated with the property. If you have a property under contract, submit it. Our rates are competitive in the private money market but we save our best rates for our best clients. Get started today to become one of those repeat, best clients! Get a property under contract and submit it!
4Is Credit the deciding factor in our 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 high credit score can potentially get you our better rates. If you partner with us, our extremely high credit score will help you lower your rates and origination points.
5How long does it take to close a transaction from start to finish?
Three to four days after we receive all required documentation. 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. Admittedly, sometimes other factors dictate closing time. If that’s the case, bring us the deal and let’s discuss it!
6How much does the appraisal cost?
Rates are determined by the going rates for appraisals in your market. This could vary between $300 and $600 (or more). The appraisal price also depends on the property type and location. A typical single family residence, condo, townhouse, or manufactured home may cost between $395 and $575. Multi-family units may cost between $550 and $645. If the property is in a rural area, it may cost more because of added drive time or appraiser availability.