Real Estate Lending
FINANCING WITH PURPOSE, BUILDING WITH VISION
Onpurpose Business Solutions (OBS) real estate lending arm is a private banking firm specializing in commercial and residential private money, equity partnerships, hard money lending, earnest money deposit and transactional funding with very competitive rates & terms.
With our direct lending capability and our wide network of investors, we are able to offer a broad array of products & services nationwide. We thrive on finding flexible & creative solutions for projects that conventional lenders are unable to fund.
ASK US ANYTHING
Let your curiosity roam free and send us your questions.
We’re excited to be your trusted source of knowledge, providing
you with the answers.
+1 (678) 938-5385
Wondering if its right for you?
Where your needs meet tailored solutions! Whether you’re planning a home renovation, seeking insurance coverage, or looking for the best travel package
ASK US ANYTHING
Let your curiosity roam free and send us your questions.
We’re excited to be your trusted source of knowledge, providing
you with the answers.
+1 (470) 693-1797
Wondering if its right for you?
Let your curiosity roam free and send us your questions.
We’re excited to be your trusted source of knowledge, providing
you with the answers.
Get a Quote today!
EASY QUALIFYING
One of the great advantages of working with OnPurpose Lending is our easy approval process. We look for ways to say yes & offer creative options. We approve loans based on your ability to be successful and the property to be profitable.
MANAGEMENT EXPERIENCE
Our management team has over 17 years of real estate investment experience. We pride ourselves on being consistent, professional & reliable. See what our customers are saying.
EASY APPLICATION
Our loan application is simple and takes just a few minutes to complete. There are NO application fees. In most cases, we provide same day answers. Our user-friendly online platform allows you to apply for a loan from the comfort of your own home or on the go.
FAST FUNDING
We routinely fund residential investment projects in 10 days from the receipt of the appraisal. The process is super fast, super easy and investor friendly. we understand that time is of the essence, and waiting for weeks to get approved for a loan is simply not an option.
OUR LOAN PROGRAMS
In an ever-changing financial landscape, the importance of responsible lending cannot be overstated. The concept of “business solutions (OBS) real estate lending division” embodies a transformative approach that seeks to empower individuals and businesses to achieve their goals while upholding a strong commitment to sustainability, inclusivity, and ethical practices.
OnPurpose lending solutions are designed to provide access to capital with a clear focus on the specific aspirations or objective of the borrower.
More about your options!
Rehab Loans
Rehab loans, short for rehabilitation loans, are financial products designed to fund the purchase and renovation of real estate properties. These loans are commonly used by real estate investors or homebuyers looking to purchase a property in need of repair or improvement. The funds from the loan cover both the acquisition cost and the costs associated with the property's rehabilitation.
Requirements
Property type: SFR & Multi-family (5+ units)
Min credit: 640
Loan-to-value (purchase): up to 90% of purchase & 80% for MF 5+ units
Loan-to-value (rehab): 100% for rehab cost for both SFR & MF
Term: 12 months
PPP: No
Payment type: I/O
Loan Amount: $100k – $5m
Lending States
LENDING IN ALL STATES EXCEPT: Alaska and Hawaii. More Loan Products, More Choices, More Loan Approvals
DSCR LOANS
Debt Service Coverage Ratio (DSCR) loans are a type of commercial real estate financing. The DSCR is a financial metric that evaluates a property's ability to generate enough income to cover its debt obligations. DSCR loans take into account the property's net operating income (NOI) in relation to its debt service (mortgage payments). Lenders use this ratio to assess the property's cash flow and the borrower's ability to repay the loan.
Requirements
Property type: SFR (1 – 4 units)
Min credit: 680
Loan-to-value (purchase): up to 85% of purchase
Loan-to-value (refinance) up to 75% of as-is
Term: 5, 7, 10 & 30 yrs
PPP: Yes
Payment type: P&I
Loan Amount: $100k – $5m
Lending States
LENDING IN ALL STATES EXCEPT: WY, IA, SD, ND
We offer financing options for Foreign Investors. Contact us for details. More Loan Products, More Choices, More Loan Approvals
PURCHASE & REFINANCE LOANS
Purchase loans are used to finance the acquisition of a property, such as a home or investment property. Refinance loans, on the other hand, involve replacing an existing loan with a new one, often with different terms. Refinancing can be done for various reasons, including obtaining a lower interest rate, changing the loan term, or accessing the equity in a property.
Requirements
Property type: SFR & Multi-family (5+ units)
Min credit: 650
Loan-to-value (purchase): up to 75% of purchase
Loan-to-value (refinance) up to 70% of as-is
Term: 5, 7, 10 & 30 yrs
PPP: Yes
Payment type: P&I
Loan Amount: $100k – $5m
Lending States
LENDING IN ALL STATES EXCEPT:
We offer financing options for Foreign Investors. Contact us for details. More Loan Products, More Choices, More Loan Approvals
Purchase Rental- Apply now
Cash Out Refinance - Apply now
PORTFOLIO / MUTI-PROPERTY LOANS
Portfolio or multi-property loans involve financing multiple real estate properties under a single loan arrangement. This can be advantageous for real estate investors or developers with a diverse portfolio of properties. It simplifies the financing process, as multiple properties are consolidated into one loan, potentially offering cost savings and streamlined management.
Requirements
Property type: SFR and Multifamily
Min credit: 640
Loan-to-value (purchase): up to 80% of purchase
Loan-to-value (refinance) up to 75% of as-is
Term: 5, 7, 10 & 30 yrs
PPP: Yes
Payment type: P&I or Interest Only
Loan Amount: $100k – $750m
Lending States
LENDING IN ALL STATES EXCEPT: WY, IA, SD, ND
More Loan Products, More Choices, More Loan Approvals
NEW CONSTRUCTION LOANS
New construction loans provide financing for the construction of a new building or development. These loans are common in real estate development and are structured to disburse funds in stages as the construction progresses. The collateral for the loan is often the property being constructed.
Requirements
Property type: SFR (1 – 4 units)
Min credit: 680
Loan-to-value (purchase): up to 85% of lot purchase
Loan-to-value (rehab): 100% for construction cost
Term: 12 months
PPP: No
Payment type: I/O
Loan Amount: $100k – $5m
Lending States
LENDING IN ALL STATES EXCEPT:
We offer financing options for Foreign Investors. Contact us for details. More Loan Products, More Choices, More Loan Approvals
TRANSACTIONAL LOANS
Transactional funding is a short-term loan used in real estate transactions, typically in wholesale real estate deals. In a wholesale transaction, an investor contracts to purchase a property and then assigns that contract to another buyer for a higher price before the original closing. Transactional funding provides the initial capital needed for the investor to acquire the property temporarily. The loan is repaid when the property is resold to the end buyer.
Costs
Premier charges a flat 3% funding fee for transactional funding services. Upon loan submission, there is a $395 processing fee. There are no other charges to the customer.
Transactional Funding Process
-Download our loan application (link to document for application – doc attached
-Send copies of both the A-B contract and the B-C contract to us for review. Please include any HUD/REO addendums
-Send copies of your corporate documents if you are purchasing the property in an entity name
-Send copies of short sale approval letter if applicable
-Provide contact information for all parties to the transactions (“A” seller; “C” buyer; real estate agents; closing firm)
-We send approval letter after application and contracts are reviewed
-Both transactions must close with the same firm. There are some exceptions if the property is an REO and the seller requires a specific closing firm.
-We fund 100% of your purchase price and closing costs
-The “C” buyers funds must be in escrow before Premier will fund
-All parties close and transaction complete
Transaction Sizes
Premier has the ability to offer transactional funding on deals up to $2,000,000 on commercial or residential transactions.
Lending States
LENDING IN ALL STATES EXCEPT: Alaska and Hawaii
More Loan Products, More Choices, More Loan Approvals
Loan Application
Terms
CONDITIONS PRIOR TO CLOSING:
Borrower agrees that property is and always will be used for investment purposes.
All guarantors of the loan will provide a Personal Financial Statement in a form acceptable to the lender.
INSURANCE & TAXES
Borrower shall provide lender with proof of insurance at or before closing in a form acceptable to Lender. The loan will not be funded until insurance is approved by the Lender. Lender shall be named the loss payee and additional insured on the insurance policy. Th collateral must remain insured in a form acceptable to the lender for the life of the loan. Real estate taxes and any other taxes on the property must be paid current by Borrower when due. Non-payment of insurance and taxes shall be events of default.
3rd PARTY FEES
Borrower is responsible for all costs incurred by Lender in processing this loan request including but not limited to appraisal, underwriting, title work, legal fees, survey environmental reports, credit reports, and inspections. The actual costs of thes services are dependent upon the type of loan and location of the subject property.
Our Team
At OnPurpose Business Solutions (OBS) real estate lending division, we believe in conducting business with the utmost integrity and transparency. We understand that taking out a loan is a significant decision that requires careful consideration. That’s why we provide clear and straightforward information about our loan products, interest rates, and repayment terms.
OUR MISSION
At OnPurpose Business Solutions (OBS) real estate lending division, our mission is to empower and propel the commercial real estate market, fostering economic growth and creating vibrant communities.
Get in Touch!
1 (877) 749-2396
1100 Peachtree St. NE, Suite 250
Atlanta GA 30309
Step Into the Inner Circle: Join Our Exclusive Memberships for Premier Business Resources
If you have specific questions
If you have specific questions
On Purpose Business Solutions © 2024 | ALL RIGHTS RESERVED | LOANS SUBJECT TO LENDER APPROVAL
The operator of this website is NOT a lender, does not make offers for loans, and does not broker online loans to lenders or lending partners. Customers who arrive at
onpurposesolutions.com/orel or onpurposesolutions.com/lendingform
are paired with a lender or a lending partner, and redirected only to lenders or lending partners who offer real estate lending products.
© 2024 OnPurpose Business Solutions|ALL RIGHTS RESERVED
ADA Statement