Nfg has helped clients all over Hawaii obtain loans for property purchases, businesses, and other investment purposes. We specialize in a number of programs, including fix and flip loans.
Our clients can count on our capital versatility, as we have access to over 500 loan programs across 20 separate asset types.
We take applications for loans, then process, underwrite, and approve them. Next, we sell, broker, or assign loans to hundreds of different partners across the nation.
The programs that we work with help thousands of individuals annually with getting loans. Since we strive to work with as many worthy aspiring business owners and investors as possible, we are sharing our most commonly asked questions.
What Is a “Fix and Flip” Loan?
Fix and flip loans exploded into popularity in the past decade. Several “house flipping” television programs helped to build tremendous interest in adding capital resources to “sweat equity” with the purpose of making money off of rapid house improvements.
If you want to obtain a loan to buy a house or commercial structure to perform a quick flip and sale, contact us today to learn more.
Why Should I Invest in Property?
Depending on where purchased, property can serve as both a safe and lucrative form of investment. Areas with even steady growth can see prices double every decade. Property investments also allow you to work in ways that other investments will not allow.
For example, you can obtain a mortgage based on your equity, then turn around and use it for investment purposes for a higher rate of return.
What Types of Loans Can Nfg Assist in Obtaining?
Nfg can help you to obtain a variety of loans, depending on circumstances and your ability to qualify. Some of our most popular include fix and flip loans from non-bank credit sources, Small Business Administration loans, construction loans (with 20 percent minimum down payment and an additional 20 percent minimum of capital already in place for the project,) and many others. Permanent loans, used by businesses to stabilize properties after construction completion, are also available.
We even help individuals obtain loans specifically to invest in vacation rental properties.
Reach out to Nfg to learn more about our full range of loan opportunities.
What Credit Scores Do Successful Loan Applicants Usually Have?
Typically, our loans require a personal credit score of at least 650. Others that require more down payment may accept individuals with scores as low as 600.
Bridge loans, often used by businesses to obtain rapid financing for pressing projects, generally require no personal credit score information.
Many times, however, we must learn more about your financial situation and loan needs before answering. Often, down payments and collateral can help to mitigate problems raised by a low credit score.
Can Nfg Help In Getting SBA Loans from the Federal Government?
Small businesses meeting certain criteria can get general and even emergency loans from the federal government through the Small Business Administration. This will require an assessment of your business’s current finances. You also must meet the SBA’s own requirements and criteria.
Reach Out Today
Learn more about Nfg by contacting us today. Our professional and courteous staff have the expertise to answer any questions you may have about our loan products. We can also schedule you for a consultation and work with you to determine eligibility.
Nfg works with clients across the state who need capital to fund investments and business projects. Message us herewith any questions. We will give you a complete and thorough response.